Appliance maker Techtronic Industries Company (TTI) was named the Best Managed Company
in Asia - Consumer Goods/Retail Sector, by the financial magazine Euromoney.
TTI, based in Hong Kong, is a global producer of floor care appliances, power tools, and outdoor power equipment. It's floor care appliance brands include Hoover, Dirt Devil, and Vax. The company also recently acquired the U.S.-based vacuum cleaner company Oreck. The company also makes Milwaukee, AEG, and Ryobi power tools, as well as Ryobi and Homelite outdoor products.
"We are delighted that TTI’s corporate management has received recognition from the investment community across Asia," said TTI Chairman Horst Pudwill. "The honor not only highlights TTI’s efforts to maintain the highest standard of management excellence, but also high praise for our continuous commitment to best practices. This prestigious award will encourage us to further raise our competitiveness and generate more fruitful returns for our shareholders."
The magazine ranks the Best Managed and Governed Companies in Asia to acknowledge companies with the most convincing and coherent business strategies in the region. The results are based on replies received from 93 of the leading equity analysts at the largest investment banks and research houses in the Asia Pacific region.
Responding analysts praised TTI for its leading role in promoting transparent communication to investors, citing that “the company has a clear strategy and good visibility ”. Analysts also noted that, “TTI senior management continues to demonstrate prudent gearing, transparency, good governance, and clear articulation of strategy.”
to Daily News