Competition is heating up in the U.S. power tool market, with a new product line at Home Depot Inc. threatening to take market share from established players such as Black & Decker Corpanalysts said.
Home Depot's U.S. and Canadian stores now carry more than 30 new Ridgid brand tools for contractors, including cordless drills, miter saws with laser guides, and a table saw.
The world's largest home improvement chain phased out slower moving tools to make room for Ridgid, a partnership between Emerson Electric Co. and One World Technologies, a unit of Hong Kong's Techtronic Industries Co. Ltd.
Ridgid's rivals, which include Black & Decker's leading DeWalt line, Bosch (and other brands, have responded with heavy promotions.
Bob Gautsch, director of Business Development for One World, said early Ridgid "sales have been outstanding." He said Ridgid tools have features that rivals lack, including a system that charges two batteries at the same time.
While Home Depot is the exclusive retailer of Ridgid, the line is also sold at industrial supply shops, Mr. Gautsch said. (Reuters)
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