ACU meaning in Business ?

Acme United Corporation is a supplier of cutting, measuring and safety products for the school, home, office, hardware and industrial markets. The company was organized as a partnership in 1867 and incorporated in 1873 under the laws of the State of Connecticut. It is publicly traded on the NYSE Mkt with symbol ACU.

Acme United’s operations are in the United States, Canada, Europe (located in Germany) and Asia (located in Hong Kong and China). The operations in the United States, Canada and Europe are primarily involved in product development, manufacturing, marketing, sales, administrative and distribution activities. The operations in Asia consist of sourcing, quality control and sales activities. Net sales for the year ended December 31, 2020, were $164 million compared to $142.5 million in 2019, an increase of 15%. Sales in the US (including Asia) were $140.2 million, in Canada $11.0 million and in Europe $12.8 million. Net income for the year ended December 31, 2020, was $8.1 million, or $2.31 per diluted share, compared to $5.5 million of net income or $1.60 per diluted share in the comparable period last year, an increase of 47% of net income and 44% in earnings per share.

The company’s customers include Staples, Office Depot, OfficeMax, United Stationers, SP Richards, W.B. Mason, Home Depot, Target, Wal-Mart, Walgreens, Grainger, McMaster-Carr, Meijer, Fred Meyer, WH Smith, and many other major chains.