Stanley Black & Decker closes sale of CAM business to Howmet for $1.8B cash

STANLEY BLACK & DECKER, INC.

Sale of Consolidated Aerospace Manufacturing completed for ~$1.8B in cash.
Net proceeds of ~$1.57B (after taxes and fees) to be used for debt reduction.
Target leverage ratio of ~2.5x net debt to adjusted EBITDA by year end.
Transaction further focuses portfolio on core businesses; CEO cites value creation.
CAM team recognized; company to continue disciplined capital allocation.

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