Hamilton, BERMUDA (April 13, 1998) -- Tyco International Ltd. (NYSE-TYC, LSE-TYI,BSX-TYC), a diversified manufacturing and service company, announced today that it has acquired CONFAB, a manufacturer of adult incontinent and other hygiene products.
CONFAB, with sales in excess of $200 million, headquartered in King of Prussia, PA, is a major manufacturer of adult incontinent and other hygiene products sold to retailers and, to a lesser extent, institutions in the US. CONFAB will be integrated with The Kendall Company within Tyco's Disposable and Specialty Products segment.
"CONFAB is an excellent addition to our growing disposable medical products group," said L. Dennis Kozlowski, Tyco's Chairman and Chief Executive Officer. "Given CONFAB's excellent customer relations, flexibility and product innovation, there are many manufacturing and distribution synergies, particularly in light of Kendall's acquisitions of INBRAND and Professional Medical Products. The transaction will result in an immediate positive impact on our earnings."
TYCO International Ltd., a diversified manufacturing and service company, is the world's largest manufacturer and installer of fire protection systems, the largest provider of electronic security services in North America and the United Kingdom and has strong leadership positions in disposable medical products, packaging materials, flow control products, electrical and electronic components and underwater telecommunications systems. The company operates in more than 50 countries around the world and will have annual revenues in excess of $12 billion.
Forward looking Information
Certain statements in this release are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All forward looking statements involve risks and uncertainties. In particular, any statements contained herein regarding the consummation and benefits of future acquisitions, as well as expectations with respect to future sales, operating efficiencies and product expansion, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. Factors that might affect such forward looking statements include, among other things, overall economic and business conditions, the demand for the Company's goods and services, competitive factors in the industries in which the Company competes, changes in government regulation and the timing, impact and other uncertainties of future acquisitions.