Acme United Company Stories PPP Mortgage Forgiveness

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SHELTON, Conn., June 16, 2021 (GLOBE NEWSWIRE) — Acme United Company (NYSE American: ACU) introduced immediately that its Paycheck Safety (PPP) mortgage of $3,508,047 has been absolutely forgiven by the Small Enterprise Administration, and that cost was remitted by the SBA to Acme United’s lender, HSBC Financial institution USA, NA, on June 9, 2021.

Walter Johnsen, Chairman and Chief Govt Officer of Acme United, stated “We recognize the help of each HSBC and the SBA in extending the PPP mortgage to Acme United final yr and the forgiveness of the mortgage. Starting in March 2020, Acme United encountered quite a few enterprise and operational uncertainties ensuing from the COVID-19 pandemic. The PPP mortgage was a key think about enabling Acme United to efficiently meet the numerous challenges that resulted from these uncertainties, together with our skill to keep away from shedding any of our staff through the pandemic.”

ACME UNITED CORPORATION is a number one worldwide provider of modern security options and chopping expertise to the college, residence, workplace, {hardware}, sporting items and industrial markets. Its main manufacturers embody First Support Solely®, First Support Central®, PhysiciansCare®, Pac-Package®, Spill Magic®, Westcott®, Clauss®, Camillus®, Cuda®, DMT®, and Med-Nap. For extra data, go to www.acmeunited.com.

Ahead-looking statements on this report, together with with out limitation, statements associated to the Firm’s plans, methods, goals, expectations, intentions and adequacy of assets, are made pursuant to the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995. Traders are cautioned that such forward-looking statements contain dangers and uncertainties together with the impression that the worldwide COVID-19 pandemic has had and can proceed to have on the Firm’s enterprise, operations and monetary outcomes. These embody, the extent of the COVID-19 pandemic, together with the period, unfold, severity, and any recurrence of the COVID-19 pandemic together with via any new variant strains of the underlying virus; the effectiveness and availability of vaccines; the period and scope of pandemic-related authorities orders and restrictions on industrial and different actions, together with retail retailer, workplace, faculty and restaurant closures; the period and scope of the Firm’s actions to keep up worker well being at our workplaces, manufacturing services and distribution facilities; the extent of the impression of the COVID-19 pandemic on general demand for the Firm’s merchandise; the tempo of restoration when an efficient vaccine is broadly accessible or when the pandemic in any other case subsides and the heightened impression the pandemic has on most of the dangers described herein, together with, with out limitation, dangers regarding the on-going world-wide financial downturn, and potential disruptions in our provide chain, any of which may adversely impression the Firm’s skill to fabricate, supply or distribute it merchandise, each domestically and internationally.

These dangers and uncertainties additional embody, with out limitation, the next: (i) modifications within the Firm’s plans, methods, goals, expectations and intentions, which can be made at any time on the discretion of the Firm; (ii) the impression of uncertainties in international financial circumstances, whether or not attributable to COVID-19 or in any other case, together with the impression on the Firm’s suppliers and clients; (iii) modifications in consumer wants and shopper spending habits, together with COVID-19 associated modifications; (iv) the impression of competitors; (v) the impression of technological modifications together with, particularly, the expansion of on-line advertising and marketing and gross sales exercise; (vi) the Firm’s skill to handle its progress successfully, together with its skill to efficiently combine any enterprise it would purchase; (vii) the Firm’s skill to successfully handle its stock in a quickly altering enterprise setting, together with further stock acquired to reply to COVID-19 associated uncertainties; (viii) foreign money fluctuations; (ix) worldwide commerce insurance policies and their impression on demand for our merchandise and our aggressive place, together with the imposition of recent tariffs or modifications in current tariff charges; and (x) different dangers and uncertainties indicated every so often within the Firm’s filings with the Securities and Change Fee.  

CONTACT: Paul G. Driscoll Acme United Company 1 Waterview Drive Shelton, CT 06484
    Cellphone: (203) 254-6060 FAX: (203) 254-6521  

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