Stanley Black & Decker Completes Sale of Consolidated Aerospace Manufacturing Business

Stanley Black & Decker has completed the sale of its Consolidated Aerospace Manufacturing (CAM) business to Howmet Aerospace for approximately $1.8 billion in cash. The company expects to use the net proceeds of approximately $1.57 billion to reduce debt, aiming to achieve a target leverage ratio of at or around 2.5 times net debt to adjusted EBITDA by year-end. This strategic move is part of the company's plan to focus on its core businesses and enhance its capital allocation strategy for shareholder value creation. The sale is expected to significantly reduce debt and provide additional capital allocation opportunities. Stanley Black & Decker also acknowledged the CAM team's contributions and expressed confidence in their future success with Howmet Aerospace.