Stanley Black & Decker Completes Sale

Stanley Black & Decker has completed the sale of its automatic door business, Access Technologies, to Allegion plc. The company will use proceeds to support debt reduction and to partially fund its share repurchase completed in the first quarter. The divestiture reflects its commitment to create a more focused company centred around its global position in the tools and outdoor categories and engineered industrial business, says Don Allan, president and CEO of Stanley Black & Decker.