Exhibit 99
Contact:
401-233-0333
Sandra Souto
Investor Relations
FOR IMMEDIATE RELEASE
August 9, 2000
Bacou USA Completes Acquisition of Platinum Protective Products, Inc.
of Wilkesboro, North Carolina
o Adds capacity to Bacou's existing Wilkesboro manufacturing facility of
SCHAS Industries, LLC
Smithfield, R.I., August 9, 2000 Bacou USA, Inc. (NYSE: BAU), a leading
manufacturer of personal protective equipment, today announced that it has
completed the acquisition of Platinum Protective Products, Inc. of Wilkesboro,
North Carolina in an all cash transaction. The transaction is effective August
8, 2000. Terms were not disclosed. Founded in 1999, Platinum manufactures and
sells cut and abrasion resistant knitted gloves.
"We entered the hand protection business with our acquisition of Perfect
Fit Glove Co., Inc. and SCHAS Circular Industries, Inc. in April 1999," said
Philip B. Barr, President and CEO of Bacou USA. "We produce most of our Perfect
Fit brand seamless knit gloves at our SCHAS manufacturing facility in
Wilkesboro, North Carolina, where we have expanded production capacity during
2000 to meet the growing demand for those products. Our purchase of Platinum
will allow us to further increase production capacity in that area. As with our
prior transactions, we expect the acquisition of Platinum to be accretive to our
earnings, although Platinum's operations are still in the start-up phase and
will not add materially to the sales or profits of our glove segment."
Bacou USA reports three business segments in its business, including a
glove segment. During the quarter ended June 30, 2000, sales within Bacou's
glove segment grew by 24.2% over the second quarter of last year. For its year
ended December 31, 1999, Bacou USA reported net sales of $272.8 million and,
prior to non-recurring items, net profits of $27.5 million and earnings per
share of $1.56 on a weighted average 17.7 million shares. In the latest twelve
months, Bacou USA has reported net sales of $300.1 million, net profits of $30.2
million and earnings per share of $1.71 on a weighted average 17.7 million
shares.
Bacou USA, Inc. (NYSE:BAU) designs, manufactures and sells leading brands
of products that protect the sight, hearing, respiratory systems and hands of
workers, as well as related instrumentation including vision screeners, gas
monitors and test equipment for self-contained breathing apparatus. The
company's products, marketed under the Uvex(R), Howard Leight(R), Perfect
Fit(TM), Whiting + Davis(TM), Survivair(R), Pro-Tech(R), Biosystems(TM),
Titmus(R), LaserVision(TM) and Lase-R Shield(TM) brand names, are sold
principally to industrial safety distributors, fire fighting equipment
distributors and optical laboratories. News and information about Bacou USA are
available on-line at www.bacouusa.com.
Statements contained in this press release that are not historical facts are
forward-looking statements that are made pursuant to the safe harbor provisions
of the Private Securities and Litigation Reform Act of 1995. In addition, words
such as "believes," "anticipates," "expects" and similar expressions are
intended to identify forward-looking statements. Forward-looking statements
involve risks and uncertainties, including but not limited to the timely
development and acceptance of new products, the impact of competitive products
and pricing, changing market conditions, the successful integration of
acquisitions, continued availability and favorable pricing of raw materials, and
the other risks detailed in the company's prospectus filed March 27, 1996, and
from time to time in other filings. Actual results may differ materially from
those projected. These forward-looking statements represent the company's
judgment as of the date of this release. The company disclaims, however, any
intent or obligation to update these forward-looking statements.
###
