Stanley Black & Decker sells aerospace unit for $1.8B, plans to cut debt and boost shareholder value

Stanley Black & Decker has completed the sale of its Consolidated Aerospace Manufacturing business to Howmet Aerospace for about $1.8 billion in cash. The company plans to use the net proceeds of approximately $1.57 billion to reduce debt, aiming to reach a target leverage ratio of around 2.5 times net debt to adjusted EBITDA by the end of the year. This move focuses Stanley Black & Decker on its core businesses and is expected to enable more dynamic capital allocation strategies to create shareholder value. The company also acknowledged the contributions of the CAM team as they transition to Howmet Aerospace.