|TOWSON, MD -- (PRNewswire-FirstCall) The Black & Decker Corporation announced that it has purchased Vector Products, Inc., a leading designer and marketer of consumer portable power products, for $160 million in cash. Vector's products, including power inverters, jump-starters, vehicle battery chargers and rechargeable spotlights, had more than $150 million of sales in 2005.
Nolan D. Archibald, Chairman and Chief Executive Officer, commented, "Vector is a highly innovative, fast-growing and profitable company that will fit well with the Black & Decker consumer products group. We began licensing the Black & Decker brand to Vector in 2005, and have become increasingly impressed with their talented team and entrepreneurial spirit over the past year."
This eUpdate posting by: Steve Joyce, Editor