Nortek Plans to Acquire Two Supplier Businesses in Italy/Poland

Nortek has negotiated the purchase of two remaining supplier businesses from a trustee in Italy/Poland for approximately $7.8 million plus assumed debt, with closing expected in 2007.

“The Company has secured alternative sources for all but two of these suppliers and has negotiated the purchase of the two remaining businesses from the trustee appointed by the local court in the settlement procedures. The purchase price of the businesses to be acquired is approximately $7.8 million plus the assumption of indebtedness (estimated to be approximately $2.8 million). The closing of these acquisitions is expected to occur in 2007.”

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