Another new alliance for SOC..I am really starting to like the action around this stock. BTW this is all very interesting to me in that normally I trade in chip and tech stocks. However I was really surprised by how badly this stock got trashed last year. Simultaneously I began to notice the SOC appliances around the house (I know this must sound funny)....how well they worked, their durability and their clean look. So I decided that, if mgmt pulled it off and started a turnaround, I would buy some shares.
Today was that day....I got filled today and am long SOC. And I may be the only one on this thread! LOL
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Helen of Troy Limited and Sunbeam Corporation Announce Alliance in Personal Care
EL PASO, Texas, Jan. 14 /PRNewswire/ -- Helen of Troy Ltd. (Nasdaq: HELE), designer, developer and worldwide marketer of brand-name personal care products and Sunbeam Corporation (NYSE: SOC), today announced that they have entered into a strategic alliance to expand the Sunbeam brand in the beauty segment of personal care. Through a long-term licensing agreement, Helen of Troy will begin marketing hair dryers, curling irons, hairsetters, mirrors, styling products, hot air brushes and personal spa products under the Sunbeam(R) trade name in the United States and Canada. The companies intend to expand the relationship into other personal care products overtime.
When commenting on their newest licensing agreement, Helen of Troy's Chairman and Chief Executive Officer, Gerald Rubin, stated "We believe the combined strengths of the highly recognized Sunbeam(R) brand and Helen of Troy's position as a leading distributor of personal care products to all retail channels of distribution, will provide retailers and consumers with excellent products in these categories that will compete very effectively in the marketplace. Adding the Sunbeam(R) brand to our existing trade names will allow Helen of Troy to continue our leadership position within the personal care categories." Products in these categories will be rolled out in the second half of 2000.
Jerry W. Levin, Chairman, and Chief Executive Officer of Sunbeam Corporation stated that, "Helen of Troy is one of the leading marketers of personal care products and we are proud to be associated with this business venture. They will provide high quality products to our consumers, enhancing Sunbeam's brand image. We look forward to a long and prosperous relationship for both Companies."
Sunbeam Corporation is a leading consumer products Company that designs, manufactures and markets, nationally and internationally, a diverse portfolio of consumer products under such world-class brands as Sunbeam(R), Oster(R), Grillmaster(R), Coleman(R), Mr. Coffee(R), First Alert(R), Powermate(R), Health o meter(R), Eastpak(R) and Campingaz(R).
Helen of Troy designs, produces and markets brand-name consumer products including hair dryers, curling irons, hair setters, women's shavers, brushes, combs, hair accessories, mirrors, artificial fingernails, foot baths and body massagers. The Company's products are sold primarily through mass merchandisers, drug chains, warehouse clubs and grocery stores under the licensed trade names of Vidal Sassoon, licensed from Procter & Gamble Co., Dr. Scholl's, licensed from Schering-Plough HealthCare Products, Inc., the trademark Revlon(R) licensed from Revlon Consumer Products Corporation and the trademark BARBIE(TM), owned by and used under license from Mattel, Inc. Helen of Troy's owned trade names include Dazey, Caruso, Karina and DCNL, with its KurlMi, HeatMi, DetangleMi and WrapMi lines of brushes and rollers. The Company also markets products under the Helen of Troy, Hot Tools, Hot Spa, Salon Edition, Gallery Series, Wigo and Ecstasy trade names to the professional beauty salon industry.
Helen of Troy's Forward Looking Statements
This press release may contain certain forward-looking statements, which are subject to change. The actual results may differ materially from those described in any forward-looking statements. Additional information concerning potential factors that could affect the Company's financial results are included in the Company's Form 10-K for the year ended February 28, 1999.
Sunbeam's Cautionary Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Sunbeam to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially from those in the forward-looking statements due to various factors, including those set forth under the captions "Cautionary Statements" in the Company's filings with the Securities and Exchange Commission.
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Contact:
Robert D. Spear, Vice President and CIO of Helen of Troy Ltd.,
915-225-4748 |
