The Bosch Group announces it has entered into an agreement to acquire CST/berger from The Stanley Works portfolio. The parties expect to complete the transaction, which is subject to regulatory and other approvals, in the next few months.

The Bosch Group is a leading supplier of automotive and industrial technology, consumer goods and building technology with sales of $63.2 billion USD in fiscal year 2007 and over 271,000 employees worldwide.

The acquisition of CST/berger by Bosch Power Tools division will create a vibrant measuring tools business that will enable us to continue growing with innovative products to meet the needs of all our customers. The new ownership will provide a platform for significant brand expansion and a broader product portfolio.

As soon as the transaction is completed we will begin the process of combining the strength of the CST/berger and Bosch measuring tool programs. Both companies have a deep heritage and unyielding commitment to our customers, and we intend to continue delivering on that commitment through this transition.