January 27, 2010 (FinancialWire) — Acme United Corp. (AMEX: ACU) said it has renewed its loan agreement with Wachovia Bank, N.A. (NYSE: WB). The new two-year facility provides for borrowings up to $18 million at an interest rate of LIBOR plus 2%. The agreement expires on January 31, 2012.

According to Acme, the facility is intended to provide liquidity for growth, share repurchases, dividends, acquisitions, and other related business activities.

Connecticut-based Acme United is a supplier of cutting devices, measuring instruments, and safety products for school, home, office, hardware and industrial use. Its brands include Westcott, Clauss, and PhysiciansCare.

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