Snap-on Incorporated (NYSE:SNA) is looking for acquisitions. Snap-on’s Chairman, Chief Executive Officer and President, Nicholas T. Pinchuk said, “we take advantage of when the stock price is in an appropriate place, so we're not in a blackout period. And then we look at acquisitions, and we're looking at acquisitions as we speak. So we have all of those discussions -- all those things are discussed at the Board level and our level constantly. Probably, the Board and us talks about it regularly.”
Snap-On Incorporated specializes in manufacturing and marketing of tools and diagnostic equipment for professionals in transportation, industry, agriculture, aviation and government sectors. Income breaks down by activity as follows:
- sale of tooling (49.5%): hand tools (wrenches, screwdriver, sockets, pliers, saws, etc.), power tools (burin, sanders, polishers, etc.), cutters, tools for cutting and pruning, tools storage products, etc.;
- sale of industrial equipment (23.8%): parallelism of wheels measurement system, wheel balancing, tire changers, vehicle hoist, battery chargers, etc.;
- sale of diagnostic materials and software (19.5%);
- financial services (7.2%).
Income breaks down geographically as follows: the United States (71.6%), Europe (14.9%) and other (13.5%).