Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

In a press release attached to this 8-K, the Company announced executive management changes. As reflected in the release, James M. Loree, who is currently the Company's Executive Vice President and Chief Financial Officer, has been elected Executive Vice President and Chief Operating Officer, effective January 1, 2009, and Donald J. McIlnay, Senior Vice President and President - Industrial Tools Group and Emerging Markets has decided to retire at the end of 2008.

Donald Allan, Jr. has been elected to serve as Vice President and Chief Financial Officer, effective January 1, 2009. Mr. Allan, who is 44, joined the Company in 1999 as Director of Financial Reporting and was named Corporate Controller in 2000 and a Corporate Vice President in 2002. He has been an executive officer of the Company since October 24, 2006. Mr. Allan is a participant in the Company's Special Severance Plan.

Item 9.01 Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits
99.1 Press release dated December 17, 2008.

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