Acme United Corporation Announces PPP Loan Forgiveness

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SHELTON, CT, June 16, 2021 (GLOBE NEWSWIRE) – Acme United Corporation (NYSE American: ACU) announced today that its $ 3,508,047 payroll protection loan has been fully forgiven by the Small Business Administration, and this payment has been made. transferred by SBA to Lender Acme United, HSBC Bank USA, NA, June 9, 2021

Walter Johnsen, Chairman and CEO of Acme United, said: “We appreciate the support of both HSBC and SBA in providing Acme United with a PPP loan last year, as well as the loan forgiveness. Since March 2020, Acme United has faced numerous business and operational challenges associated with the COVID-19 pandemic. The PPP loan has been a key factor in enabling Acme United to successfully address the significant challenges posed by this uncertainty, including our ability to avoid laying off any of our employees during the pandemic. ”

ACME UNITED CORPORATION is a leading global provider of innovative safety and cutting technology solutions for schools, home, office, hardware, sporting goods and industrial products. Its top brands include First aid only®, First aid center®, DoctorsCare®, Pak Kit®, Spill the magic®, Westcott®, Clauss®, Camille®, Cuda®, DMT® and Med-Nap… For more information visit www.acmeunited.com

The forward-looking statements in this report, including, but not limited to, statements regarding the plans, strategies, objectives, expectations, intentions and sufficiency of the Company’s resources, are made in accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including the impact that the global COVID-19 pandemic has had and will have on the Company’s business, operations and financial results. These include the magnitude of the COVID-19 pandemic, including the duration, spread, severity and any recurrence of the COVID-19 pandemic, including through any new variant strains of the underlying virus; the effectiveness and availability of vaccines; the duration and volume of government orders associated with the pandemic and restrictions on commercial and other activities, including the closure of shops, offices, schools and restaurants; the duration and scope of the Company’s actions to maintain the health of employees in our offices, production facilities and distribution centers; the degree of impact of the COVID-19 pandemic on the overall demand for the Company’s products; the rate of recovery when an effective vaccine is widely available or when the pandemic is otherwise abated, and the increased impact of the pandemic on many of the risks described here, including but not limited to the risks associated with the ongoing global economic downturn and potential disruptions to our supply chain, any of which could adversely affect the Company’s ability to manufacture, supply or distribute its products both domestically and internationally.

These risks and uncertainties also include, but are not limited to, the following: (i) changes in the plans, strategies, goals, expectations and intentions of the Company, which may be made at any time at the discretion of the Company; (ii) the impact of uncertainties in the global economic environment caused by COVID-19 or otherwise, including the impact on the Company’s suppliers and customers; (iii) changes in customer needs and consumption habits, including changes related to COVID-19; (iv) the impact of competition; (v) the impact of technological change, including in particular the growth of online marketing and sales; (vi) the Company’s ability to effectively manage its growth, including its ability to successfully integrate any business it may acquire; (vii) the Company’s ability to effectively manage its inventory in a rapidly changing business environment, including additional inventory acquired to respond to uncertainties associated with COVID-19; (viii) fluctuations in exchange rates; (ix) international trade policy and its impact on the demand for our products and our competitiveness, including introducing new tariffs or changing existing tariff rates; and (x) other risks and uncertainties that are identified from time to time in the Company’s filings with the Securities and Exchange Commission.

CONTACT: Paul J. Driscoll Acme United Corporation 1 Waterview Drive Shelton, CT 06484
Phone: (203) 254-6060 FAX: (203) 254-6521

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