Business news :A.T. Cross Considers Divesting Accessories Division

A.T. Cross Company is preparing to cut loose its 257-year Cross pen business, which has been overshadowing double-digit growth of its Native and Costa eyewear business.

The Rhode Island company said Monday it is exploring strategic alternatives for its Cross Accessory Division, which makes the once iconic Cross pens and other fine writing instruments and related products.

"We constantly look for ways to build shareholder value," said David G. Whalen, president and CEO of A.T. Cross said. "At this point in our history, we think it is important to fully understand the different ways that the Cross brand can help us achieve that goal."

A.T. Cross has engaged C.W. Downer & Co. to assist in its evaluation.

A.T. Cross has not made a decision to pursue any specific transaction or any other strategic alternative, and there is no set timetable for the strategic review process.

About A.T. Cross Company:
A. T. Cross Company is a designer and marketer of branded personal accessories, including writing instruments, reading glasses, personal and business accessories and sunglasses. The Company operates in two segments: Cross Accessory Division (CAD) and Cross Optical Group (COG). It manufactures and markets writing instruments under the Cross brands consisting of ballpoint pens, fountain pens, Selectip rolling ball pens and mechanical pencils. The Company also manufactures and markets a variety of refills for most of its product types. The Company's COG segment consists of its wholly owned subsidiary, Cross Optical Group, Inc. and is the legal entity of the Company's two sunglass brands: Costa and Native.

A.T. Cross Company
One Albion Road LINCOLN RI 02865
Phone: +1 (401) 333-1200
Fax: +1 (401) 334-2861

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