Author Topic: Craftsman To Once Again Be Made in America  (Read 710 times)

Online Solar

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Craftsman To Once Again Be Made in America
« on: May 28, 2019, 03:32:34 PM »
So it begins... Thank You Mr President! :thumbup:

Here's Why Stanley Black & Decker Is Building a New U.S. Plant.


Stanley Black & Decker (SWK, -2.59%) is opening a new $35 million manufacturing plant in the United States to help it rebuild, and perhaps more importantly “re-Americanize,” the Craftsman tool brand it just bought from Sears Holdings (SHLD, +0.00%).

While the extra capacity should help get a once-iconic $2 billion a year line back on its feet, the move also potentially offers Stanley Black & Decker another benefit: shielding it from a potential surge in economic nationalism under President-elect Donald Trump.

Though Stanley Black & Decker chief executive James Loree did not mention Trump by name in his comments to Wall Street analysts and investors on Thursday morning, it was clear that the incoming president’s threats to levy a border tax on U.S. companies that manufacture items abroad that they intend to sell to the U.S. market were a consideration.

Loree, whose company is paying Sears about $900 million for Craftsman, said expanding Stanley Black & Decker’s U.S. manufacturing capacity made “business sense” and was close to his company’s philosophy “to make where we sell whenever possible.” He also claimed his customers preferred to buy items bought in the U.S.

“It’s going to be advisable to have more manufacturing in the U.S,” Loree said. The CEO also touted the deal as “socially responsible” and touted the environmental benefits of not having to ship items to the U.S. as well as the reduced foreign exchange risk. About a half century ago, Craftsman tools were primarily made in America. Today they’re mostly produced abroad, Loree said. “We believe this is an excellent opportunity to re-Americanize and revitalize this legendary brand,” he added.

http://fortune.com/2017/01/05/stanley-black-decker-trump/
#WWG1WGA

Online Rotwang

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Re: Craftsman To Once Again Be Made in America
« Reply #1 on: June 05, 2019, 08:11:20 PM »
So it begins... Thank You Mr President! :thumbup:

Here's Why Stanley Black & Decker Is Building a New U.S. Plant.


Stanley Black & Decker (SWK, -2.59%) is opening a new $35 million manufacturing plant in the United States to help it rebuild, and perhaps more importantly “re-Americanize,” the Craftsman tool brand it just bought from Sears Holdings (SHLD, +0.00%).

While the extra capacity should help get a once-iconic $2 billion a year line back on its feet, the move also potentially offers Stanley Black & Decker another benefit: shielding it from a potential surge in economic nationalism under President-elect Donald Trump.

Though Stanley Black & Decker chief executive James Loree did not mention Trump by name in his comments to Wall Street analysts and investors on Thursday morning, it was clear that the incoming president’s threats to levy a border tax on U.S. companies that manufacture items abroad that they intend to sell to the U.S. market were a consideration.

Loree, whose company is paying Sears about $900 million for Craftsman, said expanding Stanley Black & Decker’s U.S. manufacturing capacity made “business sense” and was close to his company’s philosophy “to make where we sell whenever possible.” He also claimed his customers preferred to buy items bought in the U.S.

“It’s going to be advisable to have more manufacturing in the U.S,” Loree said. The CEO also touted the deal as “socially responsible” and touted the environmental benefits of not having to ship items to the U.S. as well as the reduced foreign exchange risk. About a half century ago, Craftsman tools were primarily made in America. Today they’re mostly produced abroad, Loree said. “We believe this is an excellent opportunity to re-Americanize and revitalize this legendary brand,” he added.

http://fortune.com/2017/01/05/stanley-black-decker-trump/

GOOD NEWS !

Will it be sold at Lowes ?

Online Solar

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Re: Craftsman To Once Again Be Made in America
« Reply #2 on: June 05, 2019, 09:00:11 PM »
GOOD NEWS !

Will it be sold at Lowes ?
At least  Despot didn't get to carry them. :biggrin:
#WWG1WGA

 

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