Snap-on Incorporated Completes Acquisition Of Proquest Business Solutions

By: Snap-on Tools | 0 Shares 112 Reads

(Tuesday, November 28, 2006) - Snap-on Incorporated (NYSE:SNA) today announced that it has completed its acquisition of the ProQuest Business Solutions segment of ProQuest Company. Funding for the acquisition included the issuance of $305 million of commercial paper. Snap-on increased its total committed credit facilities by $250 million to $670 million, of which $352 million remains available.

About ProQuest Business Solutions

ProQuest Business Solutions, headquartered in Richfield, Ohio, is a world leader in electronic parts catalogs. ProQuest products transform complex technical data for parts catalogs into easily accessed electronic information for the world's automotive, power equipment and power sports manufacturers and their dealer networks. ProQuest also provides warranty management systems and analytics to help dealerships manage and track performance.

About Snap-on

Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, diagnostics and equipment solutions for professional users. Product lines include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle manufacturers, dealerships and repair centers, as well as customers in industry, government, agriculture and construction. Products are sold through its franchisees, company-direct sales and distributor channels, as well as over the Internet. Founded in 1920, Snap-on is a $2.4 billion, S&P 500 company headquartered in Kenosha, Wisconsin.

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