Jacuzzi Brands Receives Cash Payments Totaling Approximately $11.5 Million
October 26 2005 - 2:55PM
Business Wire
Jacuzzi Brands, Inc. (NYSE: JJZ) (or "the Company") today announced
that it received cash payments totaling approximately $11.5 million
related to the sale of non-core real estate holdings. This total
consisted of approximately $9.9 million from the payment of a land
note received on the sale of property in San Luis Obispo, CA and
approximately $1.6 million from the sale of a closed production
facility in Waynesboro, VA. About Jacuzzi Brands, Inc. Jacuzzi
Brands, Inc., through its subsidiaries, is a global manufacturer
and distributor of branded bath and plumbing products for the
residential, commercial and institutional markets. These include
whirlpool baths, spas, showers, sanitary ware and bathtubs, as well
as professional grade drainage, water control, commercial faucets
and other plumbing products. Our products are marketed under our
portfolio of brand names, including JACUZZI(R), SUNDANCE(R),
ZURN(R), and ASTRACAST(R). Learn more at www.jacuzzibrands.com.
Disclosure Concerning Forward-Looking Statements Any
forward-looking statements made within this release, including the
Company's current expectations with respect to future market
conditions, future operating results and other plans, represent
management's best judgment as to what may occur in the future and
are intended to fall within the meaning of the Private Securities
Litigation Reform Act of 1995. Words such as "expects," "intends,"
"plans," "projects," "believes," "estimates," "may," "will,"
"should," "shall," and similar expressions typically identify such
forward-looking statements. Even though the Company believes the
expectations reflected in such forward-looking statements are based
on reasonable assumptions, it can give no assurance that its
expectations will be attained. In particular, various economic and
competitive factors, including those outside our control, such as
interest rates, foreign currency exchange rates, inflation rates,
instability in domestic and foreign financial markets, terrorist
acts, consumer spending patterns, energy costs and availability,
freight costs, availability of consumer and commercial credit,
adverse weather, levels of residential and commercial construction,
and changes in raw material and component costs, and the credit
worthiness of our customers, insurers, and investees, and other
factors contained in the Company's filings with the Securities and
Exchange Commission could cause our actual results during the
remainder of 2005 and in future years to differ materially from
those expressed in this press release.
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