Jump to content

Techtronic Industries: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
No edit summary
→Brands: fixing columns
 
(25 intermediate revisions by 15 users not shown)
Line 1: Line 1:
{{distinguish|TTI, Inc.}}
{{distinguish|TTI, Inc.}}


{{Short description|Hong Kong manufacturer of power equipment}}
{{Short description|Hong Kong China manufacturer of power equipment}}
{{Use American English|date=August 2022}}
{{Use mdy dates|date=August 2022}}
{{Use mdy dates|date=August 2022}}
{{Infobox company
{{Infobox company
Line 12: Line 11:
| foundation = {{Start date and age|1985|05|24||df=y}}
| foundation = {{Start date and age|1985|05|24||df=y}}
| founders = {{ubl|Horst Julius Pudwill<ref name=forbes>{{Cite news|url=https://www.forbes.com/profile/horst-julius-pudwill/#884af3822748|title=Horst Julius Pudwill|work=[[Forbes]]|access-date=2018-10-29|language=en|issn=0015-6914|archive-date=2020-09-06|archive-url=https://web.archive.org/web/20200906015225/https://www.forbes.com/profile/horst-julius-pudwill/#884af3822748|url-status=live}}</ref>|Roy Chung Chi Ping<ref name=forbes/>}}
| founders = {{ubl|Horst Julius Pudwill<ref name=forbes>{{Cite news|url=https://www.forbes.com/profile/horst-julius-pudwill/#884af3822748|title=Horst Julius Pudwill|work=[[Forbes]]|access-date=2018-10-29|language=en|issn=0015-6914|archive-date=2020-09-06|archive-url=https://web.archive.org/web/20200906015225/https://www.forbes.com/profile/horst-julius-pudwill/#884af3822748|url-status=live}}</ref>|Roy Chung Chi Ping<ref name=forbes/>}}
| location_city = [[Hong Kong]]<ref name=forbes/>
| location_country = [[Hong Kong]]
| location_country = [[China]]
| location =
| location =
| origins =
| origins =
| key_people = {{ubl|Horst Julius Pudwill {{smaller|(Chairman)}}<ref name=forbes/>|Stephan Horst Pudwill {{smaller|(Vice Chairman)}}<ref name=forbes/>|Joseph Galli {{smaller|(CEO)}}<ref name=forbes/>}}
| key_people = {{ubl|Horst Julius Pudwill {{smaller|(chairman)}}<ref name=forbes/>|Stephan Horst Pudwill {{smaller|(vice chairman)}}<ref name=forbes/>|Steven Richman {{smaller|(chief executive officer and group executive director)}}<ref name=Board>{{cite web |last1= |first1= |work=TTI Group |date= |title=Board of Directors|url=https://www.ttigroup.com/cg/directors |access-date=August 9, 2024}}</ref>|Frank Chan {{smaller|(group chief financial officer and group executive director)}}<ref name="TTI 2023 report"/>}}
| area_served = Worldwide
| area_served = Worldwide
| industry = Manufacturing<ref name=forbes/>
| industry = Manufacturing<ref name=forbes/>
| products = {{ubl|[[Power tools]]<ref name=forbes/>|[[Electronic equipment]]<ref name=forbes/>}}
| products = {{ubl|[[Power tools]]<ref name=forbes/>}}Accessories<br>Hand tools<br>Outdoor power equipment<br>Floorcare and cleaning<br>
| services =
| services =
| revenue = US$13.7 billion {{smaller|(2023)}}<ref name="TTI 2023 result"/>
| revenue = US$13.7 billion {{smaller|(2023)}}<ref name="TTI 2023 result"/>
| operating_income =
| operating_income =
| net_income =
| net_income =
| num_employees = 49,778 {{smaller|(June 2024)}}<ref>{{cite web |last1= |first1= |work=TTI Group |date= |title=2024 Interim Results|url=https://www.ttigroup.com/sites/default/files/2024-08/Announcement_ir24.pdf |access-date=August 9, 2024}}</ref>
| num_employees = 47,224 {{smaller|(2023)}}<ref name="TTI 2023 result"/>
| parent =
| parent =
| divisions =
| divisions =
Line 31: Line 29:
| homepage = {{URL|https://www.ttigroup.com/}}
| homepage = {{URL|https://www.ttigroup.com/}}
}}
}}
'''Techtronic Industries Company Limited''' ('''TTI Group''' or '''TTI''') is a [[Hong Kong]]–based multinational company that designs, produces, and markets [[power tools]], outdoor power equipment, hand tools, and floor care appliances. It pioneered cordless power tools powered by [[Lithium-ion battery|lithium-ion]] rechargeable batteries.<ref name=forbes/><ref name="TTI 2022 report">{{cite web |last1= |first1= |date= |title=2022 Annual Report |url=https://ttigroup.com/sites/default/files/2023-04/ar2022.pdf |url-status=live |archive-url=https://web.archive.org/web/20240306132229/https://ttigroup.com/sites/default/files/2023-04/ar2022.pdf |archive-date=March 6, 2024 |access-date=August 28, 2023 |publisher=Techtronic Industries}}</ref>
'''Techtronic Industries Company Limited''' ('''TTI Group''' or '''TTI''') is a [[Hong Kong]]–based multinational company that designs, produces, and markets [[power tools]], outdoor power equipment, hand tools, and floor care appliances. It pioneered cordless power tools powered by [[Lithium-ion battery|lithium-ion]] rechargeable batteries.<ref name=forbes/><ref name="TTI 2023 report">{{cite web |last1= |first1= |work=HKEX News|date= |title=2023 Annual Report |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0327/2024032701112.pdf |url-status=live |archive-url=https://web.archive.org/web/20240523035832/https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0327/2024032701112.pdf |archive-date=May 23, 2024 |access-date=March 27, 2024}}</ref>


TTI's products are manufactured in China, Vietnam, the United States, Mexico, and Europe, and in 2023, had annual sales of US$13.7 billion.<ref name="TTI 2023 result">{{cite web |last1= |first1= |work=HKEX News |date= |title=2023 Annual Results |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0306/2024030601123.pdf |url-status=live |archive-url=https://web.archive.org/web/20240306113045/https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0306/2024030601123.pdf |archive-date=March 6, 2024 |access-date=March 6, 2024}}</ref>
TTI's products are manufactured in China, Vietnam, the United States, Mexico, and Europe, and in 2023, had annual sales of US$13.7 billion.<ref name="TTI 2023 result">{{cite web |last1= |first1= |work=HKEX News |date= |title=2023 Annual Results |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0306/2024030601123.pdf |url-status=live |archive-url=https://web.archive.org/web/20240306113045/https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0306/2024030601123.pdf |archive-date=March 6, 2024 |access-date=March 6, 2024}}</ref>
Line 38: Line 36:
In 1985, TTI was founded by Horst Julius Pudwill and Roy Chi Ping Chung as an [[original equipment manufacturer]] for overseas brands. In 1987, it began to produce [[Craftsman (tools)|Craftsman]] cordless power tools for [[Sears]] followed by cordless, handheld vacuum cleaners for [[Bissell]].<ref name="CalgaryHerald June1992">{{cite news |title=Pudwill has plans for NovAtel |last1=Anne |first1=Crawford |page=E3 |work=[[Calgary Herald]] |date=June 19, 1992 |publisher=[[Postmedia Network]] |issn=1197-2823 |oclc=29533985}}</ref><ref name="forbes"/><ref name="HKEXNEWS TTI profile">{{cite web |title=Corporate Milestones |last1= |first1= |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2006/0426/00669/ewf102.pdf |work=HKEX News |date= |access-date=March 10, 2021 |archive-date=April 16, 2021 |archive-url=https://web.archive.org/web/20210416182733/https://www1.hkexnews.hk/listedco/listconews/sehk/2006/0426/00669/ewf102.pdf |url-status=live }}</ref>
In 1985, TTI was founded by Horst Julius Pudwill and Roy Chi Ping Chung as an [[original equipment manufacturer]] for overseas brands. In 1987, it began to produce [[Craftsman (tools)|Craftsman]] cordless power tools for [[Sears]] followed by cordless, handheld vacuum cleaners for [[Bissell]].<ref name="CalgaryHerald June1992">{{cite news |title=Pudwill has plans for NovAtel |last1=Anne |first1=Crawford |page=E3 |work=[[Calgary Herald]] |date=June 19, 1992 |publisher=[[Postmedia Network]] |issn=1197-2823 |oclc=29533985}}</ref><ref name="forbes"/><ref name="HKEXNEWS TTI profile">{{cite web |title=Corporate Milestones |last1= |first1= |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2006/0426/00669/ewf102.pdf |work=HKEX News |date= |access-date=March 10, 2021 |archive-date=April 16, 2021 |archive-url=https://web.archive.org/web/20210416182733/https://www1.hkexnews.hk/listedco/listconews/sehk/2006/0426/00669/ewf102.pdf |url-status=live }}</ref>


In 1990, TTI listed on the [[Hong Kong Stock Exchange]] under stock code 0669 by [[initial public offering]]. Its [[American depositary receipt|ADRs]] also trade on [[Nasdaq]] as TTNDY. In 2019, the company's shares became one of the 50 constituents of the [[Hang Seng Index]].<ref name="Reuters TTIprofile">{{cite web |title=Techtronic Industries Co Ltd |last1= |first1= |url=https://www.reuters.com/companies/TTNDF.PK |publisher=[[Reuters]] |access-date=March 10, 2021 |archive-date=April 16, 2021 |archive-url=https://web.archive.org/web/20210416182729/https://www.reuters.com/companies/TTNDF.PK |url-status=live }}</ref><ref name="ProTool Reviews">{{cite web |title=Power Tool Manufacturers and Who Really Owns Them |work=Pro Tool Reviews |date=14 July 2021 |url=https://www.protoolreviews.com/news/power-tool-manufacturers-who-owns-them/43632/ |access-date=August 5, 2021}}</ref><ref name="Businessweek July2006"/><ref name="HongKongBusiness Feb2003"/><ref name="MilwaukeeJournalSentinal Jan2020"/>
In 1990, TTI listed on the [[Hong Kong Stock Exchange]] under stock code 0669 by [[initial public offering]]. Its [[American depositary receipt|ADRs]] also trade on [[Nasdaq]] as TTNDY. In 2019, the company's shares became one of the 50 constituents of the [[Hang Seng Index]].<ref name="Reuters TTIprofile">{{cite web |title=Techtronic Industries Co Ltd |last1= |first1= |url=https://www.reuters.com/companies/TTNDF.PK |publisher=[[Reuters]] |access-date=March 10, 2021 |archive-date=April 16, 2021 |archive-url=https://web.archive.org/web/20210416182729/https://www.reuters.com/companies/TTNDF.PK |url-status=live }}</ref><ref name="ProTool Reviews">{{cite web |title=Power Tool Manufacturers and Who Really Owns Them |work=Pro Tool Reviews |date=14 July 2021 |url=https://www.protoolreviews.com/news/power-tool-manufacturers-who-owns-them/43632/ |access-date=August 5, 2021}}</ref><ref name="Businessweek July2006"/><ref name="HongKongBusiness Feb2003">{{cite news |title=Doing it yourself |last1=Dembina |first1=Andrew |pages=12–14 |work=Hong Kong Business |date=February 2003}}</ref><ref name="MilwaukeeJournalSentinal Jan2020"/>


TTI acquired [[Ryobi]] Limited's North American power tools business in August 2000.<ref>{{cite web |title=Shareholders Unanimously Approved The Acquisition of Ryobi Confirm Leadership Position in North America Power Tool Market |url=https://doc.irasia.com/listco/hk/techtronic/press/p000731.pdf |publisher=TechTronic Industries Company Limited |date=2000-07-31 |access-date=2023-12-14}}</ref>
TTI acquired [[Ryobi]] Limited's North American power tools business in August 2000.<ref>{{cite web |title=Shareholders Unanimously Approved The Acquisition of Ryobi Confirm Leadership Position in North America Power Tool Market |url=https://doc.irasia.com/listco/hk/techtronic/press/p000731.pdf |publisher=TechTronic Industries Company Limited |date=2000-07-31 |access-date=2023-12-14}}</ref>
In August 2001 TTI acquired European Ryobi power tools business and in March 2002 TTI acquired two subsidiaries of Ryobi Limited, Ryobi Australia Pty. and Ryobi New Zealand Limited.<ref>{{cite web |title=TECHTRONIC Acquires RYOBI Power Tools Business in Australia & New Zealand |url=https://doc.irasia.com/listco/hk/techtronic/press/p020303.pdf |publisher=TechTronic Industries Company Limited |date=2002-03-03 |access-date=2023-12-14}}</ref>
In August 2001 TTI acquired European Ryobi power tools business and in March 2002 TTI acquired two subsidiaries of Ryobi Limited, Ryobi Australia Pty Limited and Ryobi New Zealand Limited.<ref>{{cite web |title=TECHTRONIC Acquires RYOBI Power Tools Business in Australia & New Zealand |url=https://doc.irasia.com/listco/hk/techtronic/press/p020303.pdf |publisher=TechTronic Industries Company Limited |date=2002-03-03 |access-date=2023-12-14}}</ref>


Techtronic purchased [[Milwaukee Electric Tool]] from [[Atlas Copco]] in 2005 and began integrating lithium-ion batteries into their lineup.<ref>{{cite web |title=Techtronic: "We Have The Vision To Be No. 1" |url=https://www.bloomberg.com/news/articles/2006-07-30/techtronic-we-have-the-vision-to-be-no-dot-1 |work=[[Bloomberg Businessweek]] |date=July 30, 2006 |access-date=May 17, 2021}}</ref><ref name="Businessweek July2006">{{cite news |title=Emerging Giants |last1=Engardio |first1=Pete |newspaper=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2006-07-30/emerging-giants |date=July 31, 2006}}</ref>
Techtronic purchased [[Milwaukee Electric Tool]] from [[Atlas Copco]] in 2005 and began integrating lithium-ion batteries into their lineup.<ref>{{cite web |title=Techtronic: "We Have The Vision To Be No. 1" |url=https://www.bloomberg.com/news/articles/2006-07-30/techtronic-we-have-the-vision-to-be-no-dot-1 |work=[[Bloomberg Businessweek]] |date=July 30, 2006 |access-date=May 17, 2021}}</ref><ref name="Businessweek July2006">{{cite news |title=Emerging Giants |last1=Engardio |first1=Pete |newspaper=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2006-07-30/emerging-giants |date=July 31, 2006}}</ref>



TTI's revenue grew from US${{To USD|491|HKG}} million in 1990 to ${{To USD|6101|HKG}} million in 2001. From 2010 to 2019, its sales rose at a compounded annual growth rate of 10 percent.<ref name="MotleyFool Sept2019">{{cite web |title=3 Highlights from Techtronic Industries Co Ltd's H1 2019 Results |last1= |first1= |url=https://www.fool.com/investing/international/2019/09/03/3-highlights-from-techtronic-industries-co-ltds-h1.aspx |publisher=[[The Motley Fool]] |date=September 3, 2019 |access-date=March 11, 2021 |archive-date=April 16, 2021 |archive-url=https://web.archive.org/web/20210416182731/https://www.fool.com/investing/international/2019/09/03/3-highlights-from-techtronic-industries-co-ltds-h1.aspx |url-status=live }}</ref><ref name="TTI 2022 report"/><ref name="HongKongBusiness Feb2003">{{cite news |title=Doing it yourself |last1=Dembina |first1=Andrew |pages=12–14 |work=Hong Kong Business |date=February 2003}}</ref>


==Brands==
==Brands==
TTI's brands include:
TTI's brands include:
{{columns-list|colwidth=25em|
{{columns-list|colwidth=25em|
'''Power Tools'''
⚫
*[[Milwaukee Electric Tool|Milwaukee Electric Tools]]<ref name="StuttgartNewspaper Aug2004"/>
⚫
*[[AEG (German company)|AEG Electric Tools ]] {{smaller|(Under license from [[Electrolux AB]])}}<ref name="StuttgartNewspaper Aug2004">{{cite news |title=Chinesen auf Einkaufstour; Techtronic übernimmt AEG Elektrowerkzeuge |last1=Pretzlaff |first1=Harry |trans-title=Chinese on a shopping spree; Techtronic takes over AEG power tools |url= |language=German |work=[[Stuttgarter Zeitung]] |date=August 31, 2004}}</ref>
⚫
*[[Homelite Corporation|Homelite]]<ref name="TheState Dec2001">{{cite news |title=Deere & Co. to Close Consumer Products Facility in Pontiac, S.C. |last1=LHeureux |first1=Dave |url= |work=[[The State (newspaper)|The State]] |publisher=[[McClatchy]] |date=December 19, 2001 |issn=0038-9994 |location=Columbia, South Carolina}}</ref>
*Empire Level<ref name="MilwaukeeJournalSentinal Jan2020">{{cite web |title=Milwaukee Tool planning $26 million plant in West Bend; 100 new jobs planned by 2025 |last1=Taschler |first1=Joe |last2=Daykin |first2=Tom |url=https://www.jsonline.com/story/money/2020/01/27/milwaukee-tool-new-26-million-plant-planned-west-bend/4587289002/ |work=[[Milwaukee Journal Sentinel]] |publisher=[[Gannett]] |date=January 27, 2020 |access-date=March 11, 2021 |issn=1082-8850 |oclc=55506548 |archive-date=February 26, 2021 |archive-url=https://web.archive.org/web/20210226094042/https://www.jsonline.com/story/money/2020/01/27/milwaukee-tool-new-26-million-plant-planned-west-bend/4587289002/ |url-status=live }}</ref>
*Empire Level<ref name="MilwaukeeJournalSentinal Jan2020">{{cite web |title=Milwaukee Tool planning $26 million plant in West Bend; 100 new jobs planned by 2025 |last1=Taschler |first1=Joe |last2=Daykin |first2=Tom |url=https://www.jsonline.com/story/money/2020/01/27/milwaukee-tool-new-26-million-plant-planned-west-bend/4587289002/ |work=[[Milwaukee Journal Sentinel]] |publisher=[[Gannett]] |date=January 27, 2020 |access-date=March 11, 2021 |issn=1082-8850 |oclc=55506548 |archive-date=February 26, 2021 |archive-url=https://web.archive.org/web/20210226094042/https://www.jsonline.com/story/money/2020/01/27/milwaukee-tool-new-26-million-plant-planned-west-bend/4587289002/ |url-status=live }}</ref>
⚫
*Imperial Blade<ref name="Reuters TTIprofile"/><ref name="MilwaukeeJournalSentinal Jan2020"/>
⚫
*Stiletto<ref name="Reuters TTIprofile"/>
*Hart Tools<ref name="ToolBoxBuzz 20Nov2019">{{cite web |title=Hart Tools Launches New Line of Tools at Walmart |last1=Fratzel |first1=Todd |url=https://www.toolboxbuzz.com/cordless-tools/hart-tools-launches-new-line-of-tools-at-walmart/ |work=Tool Box Buzz |date=November 20, 2019 |access-date=July 20, 2021 |archive-date=July 21, 2021 |archive-url=https://web.archive.org/web/20210721163057/https://www.toolboxbuzz.com/cordless-tools/hart-tools-launches-new-line-of-tools-at-walmart/ |url-status=live }}</ref>
*Hart Tools<ref name="ToolBoxBuzz 20Nov2019">{{cite web |title=Hart Tools Launches New Line of Tools at Walmart |last1=Fratzel |first1=Todd |url=https://www.toolboxbuzz.com/cordless-tools/hart-tools-launches-new-line-of-tools-at-walmart/ |work=Tool Box Buzz |date=November 20, 2019 |access-date=July 20, 2021 |archive-date=July 21, 2021 |archive-url=https://web.archive.org/web/20210721163057/https://www.toolboxbuzz.com/cordless-tools/hart-tools-launches-new-line-of-tools-at-walmart/ |url-status=live }}</ref>
⚫
*[[Homelite Corporation|Homelite]]<ref name="TheState Dec2001">{{cite news |title=Deere & Co. to Close Consumer Products Facility in Pontiac, S.C. |last1=LHeureux |first1=Dave |url= |work=[[The State (newspaper)|The State]] |publisher=[[McClatchy]] |date=December 19, 2001 |issn=0038-9994 |location=Columbia, South Carolina}}</ref>
⚫
*Imperial Blade<ref name="Reuters TTIprofile"/><ref name="MilwaukeeJournalSentinal Jan2020"/>
*Kango (Australia & New Zealand)<ref>{{cite web |title=Kango Tools Australia & New Zealand |url=https://www.ttigroup.com/brands/kango |website=ttigroup.com |access-date=9 April 2024}}</ref>
⚫
*[[Milwaukee Electric Tool|Milwaukee Electric Tools]]<ref name="StuttgartNewspaper Aug2004"/>
⚫
*[[Ryobi|Ryobi power tools]] {{smaller|(Under license from [[Ryobi|Ryobi Ltdi]])}}<ref name="LewisLuk Dec2013">{{cite web |title=Case Studies on IP Trading among SMEs in Asia |last1=Luk |first1=Lewis |url=http://bipasiaforum.com/sources/ppt/2013/Lewis_Luk.pdf |publisher=Hong Kong Institute of Patent Attorneys |date=December 6, 2013 |access-date=March 11, 2021 |archive-date=June 2, 2014 |archive-url=https://web.archive.org/web/20140602162326/http://bipasiaforum.com/sources/ppt/2013/Lewis_Luk.pdf |url-status=live }}</ref>
⚫
* Stiletto<ref name="Reuters TTIprofile"/>
* DreBo<ref name="HKEXNEWS TTI profile"/>{{clarify|reason=DreBo Werkzeugfabrik GmbH still exists today as an independent company not connected to TTI Group|date=April 2024}}
}}

'''Floorcare & Cleaning'''
*[[The Hoover Company|Hoover]] {{smaller|(In US)}}<ref name="PlasticsNews Aug2014">{{cite news |title=Buyer plans to sell former Hoover plants |last1=Antosiewicz |first1=Frank |page=3 |work=[[Plastics News]] |publisher=[[Crain Communications]] |date=August 4, 2014 |volume=26}}</ref>
*[[The Hoover Company|Hoover]] {{smaller|(In US)}}<ref name="PlasticsNews Aug2014">{{cite news |title=Buyer plans to sell former Hoover plants |last1=Antosiewicz |first1=Frank |page=3 |work=[[Plastics News]] |publisher=[[Crain Communications]] |date=August 4, 2014 |volume=26}}</ref>
*[[David Oreck#Oreck Corporation|Oreck]]<ref>{{Cite web|url=https://www.usatoday.com/story/money/business/2013/07/09/oreck-bankruptcy-hoover-auction/2504095/|title=Hoover parent snaps up Oreck at auction|first=G. Chambers Williams|last=III|website=USA TODAY|access-date=2017-08-26|archive-date=2016-11-15|date=2013-07-09|archive-url=https://web.archive.org/web/20161115191635/http://www.usatoday.com/story/money/business/2013/07/09/oreck-bankruptcy-hoover-auction/2504095/|url-status=live}}</ref><ref>{{Cite web|url=https://www.prnewswire.com/news-releases/tti-statement-on-acquisition-of-oreck-215754271.html|date=2016-07-16|title=TTI Statement on Acquisition of Oreck|first=TTI Floor|last=Care|website=PR Newswire|access-date=August 8, 2022|archive-date=May 15, 2017|archive-url=https://web.archive.org/web/20170515161655/http://www.prnewswire.com/news-releases/tti-statement-on-acquisition-of-oreck-215754271.html|url-status=live}}</ref>
*[[David Oreck#Oreck Corporation|Oreck]]<ref>{{Cite web|url=https://www.usatoday.com/story/money/business/2013/07/09/oreck-bankruptcy-hoover-auction/2504095/|title=Hoover parent snaps up Oreck at auction|first=G. Chambers Williams|last=III|website=USA TODAY|access-date=2017-08-26|archive-date=2016-11-15|date=2013-07-09|archive-url=https://web.archive.org/web/20161115191635/http://www.usatoday.com/story/money/business/2013/07/09/oreck-bankruptcy-hoover-auction/2504095/|url-status=live}}</ref><ref>{{Cite web|url=https://www.prnewswire.com/news-releases/tti-statement-on-acquisition-of-oreck-215754271.html|date=2016-07-16|title=TTI Statement on Acquisition of Oreck|first=TTI Floor|last=Care|website=PR Newswire|access-date=August 8, 2022|archive-date=May 15, 2017|archive-url=https://web.archive.org/web/20170515161655/http://www.prnewswire.com/news-releases/tti-statement-on-acquisition-of-oreck-215754271.html|url-status=live}}</ref>
*[[Vax (brand)|Vax]] {{smaller|(In UK and Australia)}}<ref name="TheIndependent Jan2007"/><ref name="HKEXNEWS TTI profile"/>
*[[Vax (brand)|Vax]] {{smaller|(In UK and Australia)}}<ref name="TheIndependent Jan2007"/><ref name="HKEXNEWS TTI profile"/>
*[[Dirt Devil|Royal]]<ref name="HKEXNEWS TTI profile"/>
*DreBo<ref name="HKEXNEWS TTI profile"/>
*[[Dirt Devil]]<ref name="TheIndependent Jan2007">{{cite news |title=Future of Hoover plant in doubt |last1=Pugh |first1=Chris |page=1 |work=[[The Independent]] |date=January 31, 2007 |issn=0951-9467 |oclc=185201487}}</ref>
*[[Dirt Devil]]<ref name="TheIndependent Jan2007">{{cite news |title=Future of Hoover plant in doubt |last1=Pugh |first1=Chris |page=1 |work=[[The Independent]] |date=January 31, 2007 |issn=0951-9467 |oclc=185201487}}</ref>
⚫
*[[AEG (German company)|AEG Electric Tools ]] {{smaller|(Under license from [[Electrolux AB]])}}<ref name="StuttgartNewspaper Aug2004">{{cite news |title=Chinesen auf Einkaufstour; Techtronic übernimmt AEG Elektrowerkzeuge |last1=Pretzlaff |first1=Harry |trans-title=Chinese on a shopping spree; Techtronic takes over AEG power tools |url= |language=German |work=[[Stuttgarter Zeitung]] |date=August 31, 2004}}</ref>
⚫
*[[Ryobi|Ryobi power tools]] {{smaller|(Under license from [[Ryobi|Ryobi Ltdi]])}}<ref name="LewisLuk Dec2013">{{cite web |title=Case Studies on IP Trading among SMEs in Asia |last1=Luk |first1=Lewis |url=http://bipasiaforum.com/sources/ppt/2013/Lewis_Luk.pdf |publisher=Hong Kong Institute of Patent Attorneys |date=December 6, 2013 |access-date=March 11, 2021 |archive-date=June 2, 2014 |archive-url=https://web.archive.org/web/20140602162326/http://bipasiaforum.com/sources/ppt/2013/Lewis_Luk.pdf |url-status=live }}</ref> }}


==Awards==
==Awards==

Latest revision as of 06:23, 18 December 2024

Not to be confused with TTI, Inc..

Techtronic Industries Company Limited
創科實業有限公司
Company typePublic company
IndustryManufacturing[1]
Founded24 May 1985; 39 years ago (1985-05-24)
Founders
  • Horst Julius Pudwill[1]
  • Roy Chung Chi Ping[1]
Headquarters
Hong Kong
Area served
Worldwide
Key people
  • Horst Julius Pudwill (chairman)[1]
  • Stephan Horst Pudwill (vice chairman)[1]
  • Steven Richman (chief executive officer and group executive director)[2]
  • Frank Chan (group chief financial officer and group executive director)[3]
Products
Accessories
Hand tools
Outdoor power equipment
Floorcare and cleaning
RevenueUS$13.7 billion (2023)[4]
Number of employees
49,778 (June 2024)[5]
Websitewww.ttigroup.com

Techtronic Industries Company Limited (TTI Group or TTI) is a Hong Kong–based multinational company that designs, produces, and markets power tools, outdoor power equipment, hand tools, and floor care appliances. It pioneered cordless power tools powered by lithium-ion rechargeable batteries.[1][3]

TTI's products are manufactured in China, Vietnam, the United States, Mexico, and Europe, and in 2023, had annual sales of US$13.7 billion.[4]

History

[edit]

In 1985, TTI was founded by Horst Julius Pudwill and Roy Chi Ping Chung as an original equipment manufacturer for overseas brands. In 1987, it began to produce Craftsman cordless power tools for Sears followed by cordless, handheld vacuum cleaners for Bissell.[6][1][7]

In 1990, TTI listed on the Hong Kong Stock Exchange under stock code 0669 by initial public offering. Its ADRs also trade on Nasdaq as TTNDY. In 2019, the company's shares became one of the 50 constituents of the Hang Seng Index.[8][9][10][11][12]

TTI acquired Ryobi Limited's North American power tools business in August 2000.[13] In August 2001 TTI acquired European Ryobi power tools business and in March 2002 TTI acquired two subsidiaries of Ryobi Limited, Ryobi Australia Pty Limited and Ryobi New Zealand Limited.[14]

Techtronic purchased Milwaukee Electric Tool from Atlas Copco in 2005 and began integrating lithium-ion batteries into their lineup.[15][10]


Brands

[edit]

TTI's brands include:

Power Tools

Floorcare & Cleaning

Awards

[edit]
  • Forbes World’s Best 200 Small Companies, 2002[25]
  • Hong Kong Awards for Industries Consumer Product Design, 2008 and 2012[26][27]
  • Euromoney Best Managed Company in Asia - Consumer Goods, 2014[28]
  • The Home Depot Environmental Partner of the Year and Interconnected Partner of the Year, 2020[29]

References

[edit]
  1. ^ a b c d e f g h "Horst Julius Pudwill". Forbes. ISSN 0015-6914. Archived from the original on September 6, 2020. Retrieved October 29, 2018.
  2. ^ "Board of Directors". TTI Group. Retrieved August 9, 2024.
  3. ^ a b "2023 Annual Report" (PDF). HKEX News. Archived (PDF) from the original on May 23, 2024. Retrieved March 27, 2024.
  4. ^ a b "2023 Annual Results" (PDF). HKEX News. Archived (PDF) from the original on March 6, 2024. Retrieved March 6, 2024.
  5. ^ "2024 Interim Results" (PDF). TTI Group. Retrieved August 9, 2024.
  6. ^ Anne, Crawford (June 19, 1992). "Pudwill has plans for NovAtel". Calgary Herald. Postmedia Network. p. E3. ISSN 1197-2823. OCLC 29533985.
  7. ^ a b c "Corporate Milestones" (PDF). HKEX News. Archived (PDF) from the original on April 16, 2021. Retrieved March 10, 2021.
  8. ^ a b c "Techtronic Industries Co Ltd". Reuters. Archived from the original on April 16, 2021. Retrieved March 10, 2021.
  9. ^ "Power Tool Manufacturers and Who Really Owns Them". Pro Tool Reviews. July 14, 2021. Retrieved August 5, 2021.
  10. ^ a b Engardio, Pete (July 31, 2006). "Emerging Giants". Bloomberg.com.
  11. ^ Dembina, Andrew (February 2003). "Doing it yourself". Hong Kong Business. pp. 12–14.
  12. ^ a b c Taschler, Joe; Daykin, Tom (January 27, 2020). "Milwaukee Tool planning $26 million plant in West Bend; 100 new jobs planned by 2025". Milwaukee Journal Sentinel. Gannett. ISSN 1082-8850. OCLC 55506548. Archived from the original on February 26, 2021. Retrieved March 11, 2021.
  13. ^ "Shareholders Unanimously Approved The Acquisition of Ryobi Confirm Leadership Position in North America Power Tool Market" (PDF). TechTronic Industries Company Limited. July 31, 2000. Retrieved December 14, 2023.
  14. ^ "TECHTRONIC Acquires RYOBI Power Tools Business in Australia & New Zealand" (PDF). TechTronic Industries Company Limited. March 3, 2002. Retrieved December 14, 2023.
  15. ^ "Techtronic: "We Have The Vision To Be No. 1"". Bloomberg Businessweek. July 30, 2006. Retrieved May 17, 2021.
  16. ^ a b Pretzlaff, Harry (August 31, 2004). "Chinesen auf Einkaufstour; Techtronic übernimmt AEG Elektrowerkzeuge" [Chinese on a shopping spree; Techtronic takes over AEG power tools]. Stuttgarter Zeitung (in German).
  17. ^ Fratzel, Todd (November 20, 2019). "Hart Tools Launches New Line of Tools at Walmart". Tool Box Buzz. Archived from the original on July 21, 2021. Retrieved July 20, 2021.
  18. ^ LHeureux, Dave (December 19, 2001). "Deere & Co. to Close Consumer Products Facility in Pontiac, S.C.". The State. Columbia, South Carolina: McClatchy. ISSN 0038-9994.
  19. ^ "Kango Tools Australia & New Zealand". ttigroup.com. Retrieved April 9, 2024.
  20. ^ Luk, Lewis (December 6, 2013). "Case Studies on IP Trading among SMEs in Asia" (PDF). Hong Kong Institute of Patent Attorneys. Archived (PDF) from the original on June 2, 2014. Retrieved March 11, 2021.
  21. ^ Antosiewicz, Frank (August 4, 2014). "Buyer plans to sell former Hoover plants". Plastics News. Vol. 26. Crain Communications. p. 3.
  22. ^ III, G. Chambers Williams (July 9, 2013). "Hoover parent snaps up Oreck at auction". USA TODAY. Archived from the original on November 15, 2016. Retrieved August 26, 2017.
  23. ^ Care, TTI Floor (July 16, 2016). "TTI Statement on Acquisition of Oreck". PR Newswire. Archived from the original on May 15, 2017. Retrieved August 8, 2022.
  24. ^ a b Pugh, Chris (January 31, 2007). "Future of Hoover plant in doubt". The Independent. p. 1. ISSN 0951-9467. OCLC 185201487.
  25. ^ "200 Companies for 2002". Forbes. October 28, 2002. Archived from the original on July 21, 2021. Retrieved April 7, 2021.
  26. ^ "Hong Kong Awards for Industries 2008". Hong Kong Trade and Industry Department. Archived from the original on July 21, 2021. Retrieved April 7, 2021.
  27. ^ "Hong Kong Awards for Industries 2012". Hong Kong Trade and Industry Department. Archived from the original on July 21, 2021. Retrieved July 19, 2021.
  28. ^ "Best managed companies in Asia 2014". Euromoney. January 20, 2014. Archived from the original on September 28, 2020. Retrieved April 7, 2021.
  29. ^ Salmonsen, Mary (October 12, 2020). "Home Depot announces 2020 Innovation Award winners". Builder Online. Archived from the original on December 25, 2020. Retrieved April 7, 2021.
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Techtronic_Industries&oldid=1263716518"