Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Techtronic Enters Stock Agreement with Atlas Copco
Sep 1, 2004
 Printable format
 Email this Article
 Search

Techtronic Industries Co. Ltd. (TTI) announced that it has entered into a stock purchase agreement to acquire the Stockholm-based Atlas Copco AB's electric power tool and accessories business.

TTI is said to be one of Hong Kong's fastest growing manufacturers of hand power tools, including the Ryobi (R) and Homelite (B) brands. TTI reportedly agreed to pay US$713 million (HK$5.56 billion) for the Milwaukee(R) and AEG(R) brands, made by the U.S.-based Milwaukee Electric Tool Corp. and the Germany-based Atlas Copco Electric Tools GmbH, respectively.

"We are pleased to add the Milwaukee(R) and AEG(R) brands of power tools and DreBo(R) carbide drill bits to our growing family of global brands," Horst J. Puwill, chairman and CEO of TTI, said. "This acquisition takes advantage of our marketing and distribution networks and enhances our reach into the industrial/construction channel and power tool accessory market."

The transaction, which is subject to regulator clearances and other closing conditions, is expected to close before the end of 2004. If the stock purchase is cleared, TTI will become the world's fifth largest producer of power tools.

Back to Daily News

 

Daily News

...........................................................

Aug 29, 2014: Adaptive Frequency Drive Increases Trane Chiller Efficiency

Aug 29, 2014: Vitamix President Receives Entrepreneur of the Year Award

Aug 28, 2014: LG Heat Pump Clothes Dryer Earns Emerging Technology Award

Aug 28, 2014: Early Snowthrower Demand Boosts Toro Sales

Aug 27, 2014: Sustainability Standard Launched for Household Portable and Floor Care Appliances

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows