Infastech officially has new ownership now

Infastech, which has a large plant in Decorah, is now officially owned by Stanley Black & Decker.

Stanley Black & Decker announced late last week that it has successfully completed its acquisition of Infastech for $850 million in cash. This transaction was originally announced on July 23rd of last year.

With revenues of around 580 million and with more than 2,000 employees, Infastech is one of the world's leading producers of engineered mechanical fasteners.

With the acquisition of Infastech, Stanley Black & Decker expects its engineered fastening division to bring in $1.5 billion in annual revenues.  The company also expects the transaction to result in annual cost savings of approximately $25 million by 2015.  Stanley Black & Decker officials say they also expect the Infastech acquisition to improve the overall company's earnings per share by 40 cents per share by 2015.