Techtronic Industries Company Ltd. - Introduction

Introduction

Unit B-F 24/F CDW Building, 388 Castle Peak Road, Tsuen Wan
New Territories
Hong Kong
Telephone: +852 2402 6888
Fax: +852 2413 5971
Web site: http://www.tti.com.hk

Public Company
Incorporated: 1985
Employees: 21,000
Sales: $2.10 billion (2004)
Stock Exchanges: Hong Kong
Ticker Symbol: TTNDY
NAIC: 333991 Power-Driven Hand Tool Manufacturing; 334413 Semiconductor and Related Device Manufacturing; 334515 Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals; 335129 Other Lighting Equipment Manufacturing; 335211 Electric Houseware and Fan Manufacturing

Techtronic Industries Company Ltd. is one of the world's leading manufacturers of corded and cordless power hand tools as well as a leading manufacturer of vacuum cleaners and other floor care products. Based in Hong Kong, and initially an original equipment manufacturer (OEM) behind such brands as Craftsman, RIDGID (for Home Depot), Bissell, and Dirt Devil, Techtronic has made a drive into the branded arena at the beginning of the 21st century. Since the late 1990s, Techtronic has acquired a number of major brand names, including Ryobi (excluding Japan); Vax, the U.K. and Australian vacuum cleaner leader; Homelite, in the United States, a maker of lawn and garden tools and equipment; and Royal Appliances Mfg. Co., also in the United States, a leading maker of vacuum cleaners and floor care products. In January 2005, Techtronic completed its acquisition of Atlas Copco's tool division, adding the Milwaukee Electric Tool Corporation, in the United States, and Germany's AEG Power Tools, as well as the DreBo brand of carbide drill bits. These acquisitions have not only given the company a global brand portfolio, they also have enabled the company to establish a manufacturing presence worldwide. Techtronic Industries is listed on the Hong Kong Stock Exchange and is led by founder and Chairman Horst Pudwill. In 2004, the company's sales topped $2.1 billion.