Snap-on Incorporated Acquires Sioux Tools, Inc.

KENOSHA, Wis.--(BUSINESS WIRE)--Nov. 10, 1994--Snap-on Incorporated has acquired the capital stock of Sioux Tools, Inc., a Sioux City, Iowa-based manufacturer of industrial power tools. Terms of the transaction were not disclosed.

Snap-on said it will operate Sioux as a separate company

and continue the separate Sioux brand identity, with products targeted specifically to the industrial market. Sioux produces a line of more than 4,500 air tools, valve grinding equipment items, electric tools and service parts for industrial users. Snap-on said the acquisition will broaden its industrial tool offering. Snap-on branded products are sold to industry by an employed sales force, and Williams branded products are sold through the industrial distributor channel. Sioux branded products will continue to be sold through the distributor channel.

Snap-on Incorporated (NYSE: SNA) is a leading producer and distributor of quality hand and power tools, diagnostic equipment, and tool storage units for professional mechanics and industry.

CONTACT: Snap-on Incorporated

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