Acme United Corporation
Encyclopedia
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 1882 under the laws of the State of Connecticut. It is publicly traded on the NYSE Amex
American Stock Exchange
NYSE Amex Equities, formerly known as the American Stock Exchange is an American stock exchange situated in New York. AMEX was a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange. On January 17, 2008, NYSE Euronext announced it would acquire the...

 with symbol ACU.

Acme United’s operations are in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...

, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

, Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...

 (located in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...

) and Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...

 (located in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...

 and China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...

). 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 in 2010 were: United States (including Asia) - $47.18 million, Canada - $7.72 million, and Europe - $8.24 million.

The company’s customers include Staples, Office Depot
Office Depot
Office Depot is a supplier of office products and provides many services. The company's selection of brand name office supplies includes business machines, computers, computer software and office furniture, while its business services encompass copying, printing, document reproduction, shipping,...

, OfficeMax
OfficeMax
OfficeMax , is an American office supplies retailer that was founded in 1988 and is headquartered in Naperville, Illinois.-History:On April 1, 1988, OfficeMax was founded in Cleveland, Ohio, by Bob Hurwitz and Michael Feuer. Hurwitz served as executive chairman and chief executive officer and Feuer...

, United Stationers
United Stationers
United Stationers is the largest wholesale distributor of business products in North America, with sales in of nearly $5 billion. In 2011, it ranked 467 out of the Fortune 500 companies...

, SP Richards, W.B. Mason, Home Depot, Target
Target Corporation
Target Corporation, doing business as Target, is an American retailing company headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart. The company is ranked at number 33 on the Fortune 500 and is a component of the Standard & Poor's...

, Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...

, Walgreens
Walgreens
Walgreen Co. , doing business as Walgreens , is the largest drugstore chain in the United States of America. As of August 31st, the company operates 8,210 locations across all 50 states, the District of Columbia and Puerto Rico. Founded in Chicago, Illinois in 1901, and has since expanded...

, School Specialty, Grainger
W. W. Grainger
W. W. Grainger, Inc. is a Fortune 500 industrial supply company founded in 1927 in Chicago, Illinois. Grainger's catalog includes such offerings as motors, lighting, material handling, fasteners, plumbing, tools, and safety supplies. Revenue is generally from business to business sales rather than...

, McMaster-Carr
McMaster-Carr
McMaster-Carr Supply Company is a private, family-owned supplier to industrial and commercial facilities worldwide, specializing in next day delivery of Maintenance, Repair and Operations materials and supplies. The company is based in Elmhurst Illinois and has distribution branches in...

, Meijer
Meijer
Meijer, Inc. is a regional American hypermarket chain based in Grand Rapids, Michigan. Founded in 1934 as a supermarket chain, Meijer is credited with pioneering the modern supercenter concept in 1962. About half of the company's 196 stores are located in Michigan, with additional locations in...

, Fred Meyer
Fred Meyer
Fred Meyer, Inc., is a chain of hypermarkets founded in 1922 in Portland, Oregon, by Fred G. Meyer. The company was one of the pioneers of one-stop shopping, eventually combining a complete grocery supermarket with a drugstore, clothing store, shoe store, fine jewelers, home decor store, home...

, Zellers
Zellers
Zellers Inc. is Canada's second-largest chain of mass merchandise discount stores, with locations in communities across Canada. A subsidiary of the Hudson's Bay Company , it has 273 locations across the country....

, Schlecker, WH Smith, and many other major chains.

Before 1960s

Acme United has roots dating back to 1867 when German immigrant Leo Renz bought an old grist mill in Naugatuck, Connecticut. He opened Renz Shear Shop and started the manufacture of scissors
Scissors
Scissors are hand-operated cutting instruments. They consist of a pair of metal blades pivoted so that the sharpened edges slide against each other when the handles opposite to the pivot are closed. Scissors are used for cutting various thin materials, such as paper, cardboard, metal foil, thin...

 and cast iron
Cast iron
Cast iron is derived from pig iron, and while it usually refers to gray iron, it also identifies a large group of ferrous alloys which solidify with a eutectic. The color of a fractured surface can be used to identify an alloy. White cast iron is named after its white surface when fractured, due...

 shears. In the 1880s the Company moved to Bridgeport
Bridgeport
Bridgeport is the most populous city in the U.S. state of Connecticut.Bridgeport may also refer to:-Places:In Canada:* Bridgeport, Nova ScotiaIn the United States:* Bridgeport, Alabama* Bridgeport, California, in Mono County...

, Connecticut where it was incorporated as The Acme Shear Company. A few years later, the company was sold to the brothers David C. Wheeler and Dwight Wheeler. It was the Wheeler family that was responsible for the company’s initial growth. By 1946 Acme Shear had become the world's largest maker of shears and scissors.

1960s and 1970s

Henry Wheeler, a third generation Wheeler, who had become president of Acme Shear in 1941, expanded the company in a number of directions. He established a subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...

 in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

 to sell directly to the European market. In 1965, the company introduced a line of disposable medical scissors
Trauma shears
Trauma shears, also known as tuff cuts, are a type of scissors used by paramedics and other emergency medical personnel to quickly and safely cut clothing from injured people...

 and surgical instruments
Surgical instruments
A surgical instrument is a specially designed tool or device for performing specific actions of carrying out desired effects during a surgery or operation, such as modifying biological tissue, or to provide access for viewing it. Over time, many different kinds of surgical instruments and tools...

, which became so successful that a new manufacturing plant
Factory
A factory or manufacturing plant is an industrial building where laborers manufacture goods or supervise machines processing one product into another. Most modern factories have large warehouses or warehouse-like facilities that contain heavy equipment used for assembly line production...

 had to be opened to produce the medical equipment. In 1967 Acme did an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...

 (IPO) and became a publicly traded company.

In the 1970s, Acme acquired Westcott Rule Company, which was founded in 1872 in Seneca Falls
Seneca Falls (village), New York
Seneca Falls is a village in Seneca County, New York, United States. The population was 6,861 at the 2000 census. The village is in the Town of Seneca Falls, east of Geneva, New York. On March 16, 2010, village residents voted to dissolve the village, a move that would take effect at the end of 2011...

, New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...

. Because Westcott was a major ruler manufacturer, it was decided to change the company name to Acme United Corporation. The 1970s were also highlighted by further expansion in the medical field, with new acquisitions and products.

1980s

Acme United faced rough times during the 1980s because it became too dependent on one customer: American Hospital Supply. When American Hospital decided to start manufacturing products themselves, Acme lost over $20 million in annual sales. In a struggle to survive, it took over several companies in the US and abroad, however with varying success.

1990s

During the early 1990s Acme United continued to produce losses, which was reflected in the company’s share price. The stock, which had been trading around $25 in the 1980s sold for $3.

Walter C. Johnsen joined the company as a Board member and became CEO in 1995. He had previously been Vice Chairman and a principal of Marshall Products, Inc., a medical supply distributor that he and a partner acquired in a leveraged buyout. Marshall was purchased by Omron Corporation
OMRON
is a Japanese electronics company based in Kyoto.Omron was established by Kazuma Tateishi in 1933 and incorporated in 1948. Omron's primary business is the manufacture and sale of automation components, equipment and systems, but it is generally known for medical equipment such as digital...

, and became the North American arm of its medical business.

In the following years, Johnsen recruited a new management team, sold the medical business to Medical Action Industries and closed seven manufacturing plants. Brian Olschan joined as Senior Vice President of Sales and Marketing, and later became Chief Operating Officer. Acme returned to profitability in 2000 when it reported a net income of $1.1 million. It also started selling products to mass merchants such as Wal-Mart and Target.

2000s

In June 2004, the company acquired Clauss Cutlery
Clauss Cutlery Company
Clauss Cutlery’s long and vivid history started in 1877 when John Clauss and his younger brother Henrie established Elyria Shear Works in Elyria, Ohio...

 from Alco Industries. Founded in 1877 in Fremont
Fremont, Ohio
Fremont Public Schools enroll 4,450 students in public primary and secondary schools. The district administers 9 public schools including seven elementary schools, one middle school, and one high school, Fremont Ross. In addition, the city is home to one private catholic high school, Saint Joseph...

, Ohio, Clauss manufactures scissors and cutting tools for the floral
Floral industry
The floral industry is one of the major industries in many developing and underdeveloped countries. Floriculture as an industry began in the late 19th century in England, where flowers were grown on a large scale on the vast estates. The present day floral industry is a dynamic, global,...

 and industrial markets. And in 2007, the company bought the brand names and intellectual property of Camillus Cutlery Company
Camillus Cutlery Company
The Camillus Cutlery Company was one of the oldest knife manufacturers in the United States. The Company, which has its roots dating back to 1876, produced millions of knives until it filed for bankruptcy in 2007 due to fierce overseas competition...

, one of the oldest knife manufacturers in the United States, for $200,000 in a bankruptcy auction.

In February 2011, Acme United acquired Pac-Kit Safety Equipment Company, a manufacturer of first aid kits for the industrial, safety, transportation and marine markets. Acme United purchased the accounts receivable
Accounts receivable
Accounts receivable also known as Debtors, is money owed to a business by its clients and shown on its Balance Sheet as an asset...

, inventory
Inventory
Inventory means a list compiled for some formal purpose, such as the details of an estate going to probate, or the contents of a house let furnished. This remains the prime meaning in British English...

, equipment, brands, historical records, and photographs for $3.4 million. Pac-Kit’s revenues in 2010 were approximately $5.4 million.

Corporate structure

Today, Acme United has five main brands: Westcott, Clauss, PhysiciansCare, Pac-Kit and Camillus.

Westcott

Westcott
Westcott scissors and rulers
The history of school and office products brand Westcott dates back to 1872, when Henry Westcott, together with his two sons Charles and Frank Westcott, started manufacturing wooden furniture used by printers and trellis units in Seneca Falls, New York. The company expanded rapidly and became one...

 is a major brand for scissors and rulers in North America, and one of the strongest worldwide. Their scissors range from kids and student products to sewing, office, and craft items. Their rulers come in wood
Wood
Wood is a hard, fibrous tissue found in many trees. It has been used for hundreds of thousands of years for both fuel and as a construction material. It is an organic material, a natural composite of cellulose fibers embedded in a matrix of lignin which resists compression...

, plastic
Plastic
A plastic material is any of a wide range of synthetic or semi-synthetic organic solids used in the manufacture of industrial products. Plastics are typically polymers of high molecular mass, and may contain other substances to improve performance and/or reduce production costs...

, stainless steel
Stainless steel
In metallurgy, stainless steel, also known as inox steel or inox from French "inoxydable", is defined as a steel alloy with a minimum of 10.5 or 11% chromium content by mass....

, acrylic
Acrylic glass
Poly is a transparent thermoplastic, often used as a light or shatter-resistant alternative to glass. It is sometimes called acrylic glass. Chemically, it is the synthetic polymer of methyl methacrylate...

 and aluminum with plentiful designs, innovations and fashionable colors. Each year, Acme sells between 60 to 80 million scissors, and 15 to 18 million Westcott rulers.

Following the success in scissors and rulers, Westcott extended to other precision office tools such as paper trimmers
Paper cutter
A paper cutter is a tool often found in offices and classrooms, designed to cut a large set of paper at once with a perfectly straight edge.-Description:...

, pencil sharpeners, and math kits. A recent Westcott product is the iPoint Curve pencil sharpener.

Clauss

Clauss
Clauss Cutlery Company
Clauss Cutlery’s long and vivid history started in 1877 when John Clauss and his younger brother Henrie established Elyria Shear Works in Elyria, Ohio...

 primarily manufactures cutting instruments for the professional market. Recent product announcements include a comprehensive line of quality tools for professionals: True Professional sewing shears, utility knives
Utility knife
A utility knife is a knife used for general or utility purposes. The utility knife was originally a fixed blade knife with a cutting edge suitable for general work such as cutting hides and cordage, scraping hides, butchering animals, cleaning fish, and other tasks.Today, the term "utility knife"...

, chef shears, hobby knives and craft implements. For the industrial market, Clauss has created a complete range of high-performance cutting tools.

The best selling Clauss product is the SpeedPak utility knife and its 10 titanium
Titanium
Titanium is a chemical element with the symbol Ti and atomic number 22. It has a low density and is a strong, lustrous, corrosion-resistant transition metal with a silver color....

 blade
Blade
A blade is that portion of a tool, weapon, or machine with a cutting edge and/or a pointed tip that is designed to cut and/or puncture, stab, slash, chop, slice, thrust, or scrape animate or inanimate surfaces or materials...

s cartridge. Once the cartridge is inserted into the body of the SpeedPak, it works like a normal utility knife. However, when the blade is dull, the user simply pushes a button on the side, pulls the blade out, retracts the top button, and it automatically reloads another blade. In 2007, Acme United won a Good Design award
Good design awards
The Good Design Awards are chosen annually by The Chicago Athenaeum Museum of Architecture and Design in cooperation with The European Centre for Architecture, Art, Design and Urban Studies...

 from the Chicago Athenaeum for its SpeedPak utility knife.

Late 2010, Clauss introduced two new lines of gardening tools
Garden tool
A garden tool is any one of many tools made for gardens and gardening and overlaps with the range of tools made for agriculture and horticulture...

. The Enviro-Line includes pruners
Pruning shears
Pruning shears, also called hand pruners , or secateurs are a type of scissors for use with plants. They are strong enough to prune hard branches of trees and shrubs, sometimes up to two centimetres thick...

, snips, floral knives, spring assisted scissors, while the AirShoc line are professional lawn & garden tools like loppers
Loppers
Loppers are a type of scissors used for pruning twigs and small branches. They are the largest type of manual garden cutting tool. They are usually operated with two hands, and with handles around 65 cm long to give good leverage...

, hedge shears, branch saws and grass and garden shears.

PhysiciansCare

PhysiciansCare
PhysiciansCare First Aid and Medications
PhysiciansCare is the First Aid and over-the-counter medical products brand of Acme United Corporation. The history of PhysiciansCare dates back to 1965, when Acme Shear, the predecessor of Acme United Corp., entered the medical industry, with the production of disposable medical scissors and...

 offers a broad assortment of first aid kit
First aid kit
A first aid kit is a collection of supplies and equipment for use in giving first aid, and can put together for the purpose , or purchased complete...

s, over-the-counter medicines, emergency and disaster kits, preparedness products and kit refills. The brand is expanding with a focus on comfort, ease-of-use and easy access.

Pac-Kit

Pac-Kit sells first aid kits, industrial stations and refills, emergency medical travel and recreational kits to the industrial, safety, transportation and marine markets. Pac-Kit employs 33 people and produces its products in a 40,000 square foot FDA
Food and Drug Administration
The Food and Drug Administration is an agency of the United States Department of Health and Human Services, one of the United States federal executive departments...

 facility in Norwalk
Norwalk, Connecticut
Norwalk is a city in Fairfield County, Connecticut, United States. According to the 2010 U.S. Census, the population of the city is 85,603, making Norwalk sixth in population in Connecticut, and third in Fairfield County...

, CT.

Pac-Kit has roots dating back to the 1800s as part of the Burroughs Wellcome Company
GlaxoSmithKline
GlaxoSmithKline plc is a global pharmaceutical, biologics, vaccines and consumer healthcare company headquartered in London, United Kingdom...

. It was one of the first companies that began packaging medications and dressings into cases for use in the field. Many explorers of that time carried the cases with them on their expeditions. Captain Robert Scott
Robert Falcon Scott
Captain Robert Falcon Scott, CVO was a Royal Navy officer and explorer who led two expeditions to the Antarctic regions: the Discovery Expedition, 1901–04, and the ill-fated Terra Nova Expedition, 1910–13...

 used it on his expedition to the South Pole
South Pole
The South Pole, also known as the Geographic South Pole or Terrestrial South Pole, is one of the two points where the Earth's axis of rotation intersects its surface. It is the southernmost point on the surface of the Earth and lies on the opposite side of the Earth from the North Pole...

, Admiral Byrd
Richard Evelyn Byrd
Rear Admiral Richard Evelyn Byrd, Jr., USN was a naval officer who specialized in feats of exploration. He was a pioneering American aviator, polar explorer, and organizer of polar logistics...

 carried them on the first flight to the South Pole, Admiral Peary brought Pac-Kit first aid kits on both his North
North Pole
The North Pole, also known as the Geographic North Pole or Terrestrial North Pole, is, subject to the caveats explained below, defined as the point in the northern hemisphere where the Earth's axis of rotation meets its surface...

 and South Pole flights and Nobel Prize
Nobel Prize
The Nobel Prizes are annual international awards bestowed by Scandinavian committees in recognition of cultural and scientific advances. The will of the Swedish chemist Alfred Nobel, the inventor of dynamite, established the prizes in 1895...

 winner Fridtjof Nansen
Fridtjof Nansen
Fridtjof Wedel-Jarlsberg Nansen was a Norwegian explorer, scientist, diplomat, humanitarian and Nobel Peace Prize laureate. In his youth a champion skier and ice skater, he led the team that made the first crossing of the Greenland interior in 1888, and won international fame after reaching a...

 had a Pac-Kit on his polar expeditions.

Camillus

Camillus
Camillus Cutlery Company
The Camillus Cutlery Company was one of the oldest knife manufacturers in the United States. The Company, which has its roots dating back to 1876, produced millions of knives until it filed for bankruptcy in 2007 due to fierce overseas competition...

, with roots dating back to 1876, is one of the best known brands in the knife industry. It produced millions of knives until it filed for bankruptcy in 2007 due to fierce overseas competition.

In May 2009, Acme United re-launched Camillus at the 2009 National Hardware Show
National Hardware Show
The National Hardware Show is held every year by Reed Exhibitions in Las Vegas. It is a housing after-market show that brings together manufacturers and resellers of all products used to remodel, repair, maintain and decorate the home and garden....

 in Las Vegas
Las Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...

 with a whole new family of knives. The new Camillus knives have well designed, durable handles and the blades have a titanium
Titanium
Titanium is a chemical element with the symbol Ti and atomic number 22. It has a low density and is a strong, lustrous, corrosion-resistant transition metal with a silver color....

 carbonitride coating
Coating
Coating is a covering that is applied to the surface of an object, usually referred to as the substrate. In many cases coatings are applied to improve surface properties of the substrate, such as appearance, adhesion, wetability, corrosion resistance, wear resistance, and scratch resistance...

, making them 10 times harder than stainless steel. The knives are sold at leading retailers and specialty knife shops.

Competition

The Company competes with many companies in each market and geographic area. The major competitor in the cutting category is Fiskars Corporation. The biggest competitor in the measuring category is Helix International Ltd. The major competitor in the safety category is Johnson and Johnson.

Walter Johnsen - Chairman and CEO

Mr. Johnsen has served as director since 1995 and as Chairman and Chief Executive Officer since November 30, 1995. Before joining the Company he was Vice Chairman and a principal of Marshall Products, Inc., a medical supply distributor.

Brian Olschan - President and COO

Mr. Olschan served as Senior Vice President of Sales and Marketing from September 10, 1996 until February 22, 1999. On January 23, 1999, he was promoted to President and Chief Operating Officer. From 1984 to 1996, he was employed by General Cable Corporation in various executive positions.

Paul Driscoll - Vice President and CFO

Mr. Driscoll has served as Vice President and Chief Financial Officer, Secretary and Treasurer since October 2002. Mr. Driscoll joined Acme as Director International Finance in 2001. From 1997 to 2001 he was employed by Ernest and Julio Gallo Winery
E & J Gallo Winery
E & J Gallo Winery was founded in 1933 by Ernest Gallo and Julio Gallo in Modesto, California. E & J Gallo Winery is the largest exporter of California wines and is a large promoter of wines from Sonoma County.-History:...

 including two years in Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...

 as Director of Finance and Operations. Prior to Gallo he served in several increasingly responsible positions in Sterling Winthrop Inc.
Sterling Drug
Sterling Drug was a global pharmaceutical company based in the United States, known as Sterling-Winthrop, Inc. after the merger with Winthrop-Stearns Inc. and then as Sterling Winthrop Pharmaceuticals, whose primary product lines included diagnostic imaging...

 in New York City and Sanofi S.A.
Sanofi-Aventis
Sanofi S.A. is a multinational pharmaceutical company headquartered in Paris, France, the world's fourth-largest by prescription sales. Sanofi engages in the research and development, manufacturing and marketing of pharmaceutical products for sale principally in the prescription market, but the...

 in France.

See also

  • Camillus Cutlery Company
    Camillus Cutlery Company
    The Camillus Cutlery Company was one of the oldest knife manufacturers in the United States. The Company, which has its roots dating back to 1876, produced millions of knives until it filed for bankruptcy in 2007 due to fierce overseas competition...

  • Clauss Cutlery Company
    Clauss Cutlery Company
    Clauss Cutlery’s long and vivid history started in 1877 when John Clauss and his younger brother Henrie established Elyria Shear Works in Elyria, Ohio...

  • PhysiciansCare First Aid and Medications
    PhysiciansCare First Aid and Medications
    PhysiciansCare is the First Aid and over-the-counter medical products brand of Acme United Corporation. The history of PhysiciansCare dates back to 1965, when Acme Shear, the predecessor of Acme United Corp., entered the medical industry, with the production of disposable medical scissors and...

  • Westcott Rule Company

External links

The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
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