Transaction Expected to Close in Approximately 30 Days
SALEM, N.H.--(BUSINESS WIRE)--Feb. 22, 2012--
Standex
International Corporation (NYSE:SXI) today signed a
definitive agreement to sell its Air Distribution Products Group to Blue
Wolf Capital Partners, a private equity firm. Standex had previously
announced its intention to divest the Group. The transaction is expected
to close in approximately 30 days, and no regulatory approvals are
needed.
“The sale of the ADP Group is in line with our Focused Diversity
strategy of investing in businesses that provide value-added and
technically driven customer solutions,” said President and CEO Roger
Fix. “We believe these businesses provide superior returns and enhance
shareholder value. The divestiture of ADP improves our overall profit
margin and asset return profile and allows us to focus our time and
resources on our strategic businesses. We thank ADP’s employees for
their contributions to Standex and wish them future success.”
As a result of the expected divestiture, Standex anticipates reporting
charges in the range of $0.18 to $0.23 per share, post-tax, in
discontinued operations during the current third quarter of fiscal 2012.
About Standex
Standex
International Corporation is a multi-industry manufacturer in four
broad business segments: Food Service Equipment Group, Engineering
Technologies Group, Engraving Group and Electronics and Hydraulics Group
with operations in the United States, Europe, Canada, Australia,
Singapore, Mexico, Brazil, Argentina, Turkey, South Africa, India and
China. For additional information, visit the Company's website at www.standex.com.
Safe Harbor Language
Statements in this news release include, or may be based upon,
management's current expectations, estimates and/or projections about
the sale of the ADP Group and Standex's markets, industries and
financial performance. These statements are forward-looking statements
within the meaning of The Private Securities Litigation Reform Act of
1995. Actual results may materially differ from those indicated by such
forward-looking statements as a result of certain risks, uncertainties
and assumptions that are difficult to predict. Among the factors that
could cause actual results to differ are, with respect to the sale, the
ability of the parties to fulfill all closing conditions and with
respect to the Company, the impact of implementation of government
regulations and programs affecting our businesses, unforeseen legal
judgments, fines or settlements, uncertainty in conditions in the
financial and banking markets, general domestic and international
economy including more specifically increases in raw material costs, the
ability to substitute less expensive alternative raw materials, the
heavy construction vehicle market, the new residential construction
market, the ability to continue to successfully implement productivity
improvements, increase market share, access new markets, introduce new
products, enhance our presence in strategic channels, the successful
expansion and automation of manufacturing capabilities and
diversification efforts in emerging markets, the ability to continue to
achieve cost savings through lean manufacturing, cost reduction
activities, and low cost sourcing, effective completion of plant
consolidations, successful completion and integration of future
acquisitions and the other factors discussed in the Annual Report of
Standex on Form 10-K for the fiscal year ending June 30, 2011, which is
on file with the Securities and Exchange Commission, and any subsequent
periodic reports filed by Standex with the Securities and Exchange
Commission. In addition, any forward-looking statements represent
management's estimates only as of the day made and should not be relied
upon as representing management's estimates as of any subsequent date.
While Standex may elect to update forward-looking statements at some
point in the future, Standex and management specifically disclaim any
obligation to do so, even if management's estimates change.

Source: Standex International Corporation
Standex International Corporation
Thomas DeByle,
603-893-9701
CFO
InvestorRelations@Standex.com