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Company Description (as filed with the SEC)
The Eastern Company (the “Company”) was incorporated under the laws of the State of Connecticut in October, 1912, succeeding a co-partnership established in October, 1858. The business of the Company is the manufacture and sale of industrial hardware, security products and metal products from four U.S. operations and seven wholly-owned foreign subsidiaries. The Company maintains eleven physical locations. RECENT DEVELOPMENTS In July 2013, the Board of Directors of the Company voted to increase the quarterly dividend by 10% effective in the third quarter of 2013. In July 2013, the Company obtained a business license for a new subsidiary, Dongguan Reeworld Security Products Ltd. The subsidiary is located in Dongguan, China and was established to replace a contract manufacturer supplying lock products primarily for the Security Products segment of the Company. On December 14, 2012 the Company paid a one-time extra dividend of $0. ... More ...