SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 1, 2004
The Stanley Works
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(Exact name of registrant as specified in charter)
Connecticut 1-5224 06-0548860
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1000 Stanley Drive, New Britain Connecticut 06053
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (860) 225-5111
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Not Applicable
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(Former name or former address, if changed since last report)
Exhibit Index is located on Page 4
Page 1 of 5
Item 5. Other Events.
The Stanley Works has announced that all approvals have been received for the
sale of its residential entry doors business to Masonite International
Corporation.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(c) Exhibits.
Exhibit No. Description
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99.1 Press release, dated March 1, 2004 issued by The
Stanley Works, announcing that all approvals have
been received for the sale of its entry doors
business to Masonite International Corporation.
Page 2 of 5
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
THE STANLEY WORKS
Date: March 1, 2004 By: /s/ Bruce H. Beatt
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Name: Bruce H. Beatt
Title: Vice President, General
Counsel and Secretary
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EXHIBIT INDEX
Current Report on Form 8-K
Dated March 1, 2004
Exhibit No. Page
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99.1 5
Page 4 of 5
Exhibit 99.1
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FOR IMMEDIATE RELEASE
THE STANLEY WORKS ANNOUNCES ALL APPROVALS RECEIVED FOR SALE OF RESIDENTIAL ENTRY
DOORS BUSINESS
New Britain, Connecticut, March 1, 2004 ... The Stanley Works (NYSE: SWK)
announced today that on Friday, February 27, 2004 all required government
approvals were received and it expects to complete the sale of its residential
entry doors business to Masonite International Corporation (TSE, NYSE: MHM)
within the next few days.
The transaction will generate an after-tax gain and net proceeds of
approximately $100 million, which will be utilized for partial repayment of debt
incurred in the recent acquisition of Blick plc.
The Stanley Works, an S&P 500 company, is a worldwide supplier of tools,
hardware and security systems for professional, industrial and consumer use.
Contact: Gerry Gould
Vice President, Investor Relations
(860)827-3833
ggould@stanleyworks.com
The Stanley Works corporate press releases are available under Financial News in
the Investor Relations section of the company's corporate web site at
www.stanleyworks.com.
CAUTIONARY STATEMENTS
Under the Private Securities Litigation Reform Act of 1995
The statements in this press release to the effect that (a) the company expects
to complete the sale of its residential entry doors business within the next few
days and (b) the transaction will generate an after-tax gain and net proceeds of
approximately $100 million are forward looking statements and inherently subject
to risk and uncertainty. The company's ability to close the sale of its doors
business within the next few days is subject to satisfaction or waiver of the
remaining conditions set forth in the Acquisition Agreement between the company
and Masonite International Corporation. Achieving an after-tax gain and net
proceeds of approximately $100 million is subject to final accounting of the
completed transaction.
The company undertakes no obligation to publicly update or revise any
forward-looking statements to reflect events or circumstances that may arise
after the date hereof.
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