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Techtronic Industries

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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[1]
Area served
Worldwide
Key people
  • Horst Julius Pudwill (Chairman)[1]
  • Stephan Horst Pudwill (Vice Chairman)[1]
  • Joseph Galli (CEO)[1]
Products
RevenueUS$13.2 billion (2021)[2]
Number of employees
51,426 (2021)[2]
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][2]

TTI manufactures in China, Vietnam, the U.S., Mexico and Europe, and in 2021, had annual sales of US$13.2 billion.[2]

History

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.[3][1][4]

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.[5][6][7][8][9]

Techtronic purchased Milwaukee Electric Tool from Atlas Copco in 2005 and began integrating lithium-ion batteries into their lineup.[10][7]

TTI's revenue grew from US$63.19 million in 1990 to $785.2 million in 2001. From 2010 to 2019, its sales rose at a compounded annual growth rate of 10 percent.[11][2][8]

Brands

TTI's brands include:

Awards

  • Forbes World’s Best 200 Small Companies, 2002[20]
  • Hong Kong Awards for Industries Consumer Product Design, 2008 and 2012[21][22]
  • Euromoney Best Managed Company in Asia - Consumer Goods, 2014[23]
  • The Home Depot Environmental Partner of the Year and Interconnected Partner of the Year, 2020[24]

References

  1. ^ a b c d e f g h i j k "Horst Julius Pudwill". Forbes. ISSN 0015-6914. Archived from the original on September 6, 2020. Retrieved October 29, 2018.
  2. ^ a b c d e "2021 Annual Report" (PDF). Techtronic Industries. Archived (PDF) from the original on March 31, 2022. Retrieved March 2, 2022.
  3. ^ Anne, Crawford (June 19, 1992). "Pudwill has plans for NovAtel". Calgary Herald. Postmedia Network. p. E3. ISSN 1197-2823. OCLC 29533985.
  4. ^ a b c d "Corporate Milestones" (PDF). HKEX News. Archived (PDF) from the original on April 16, 2021. Retrieved March 10, 2021.
  5. ^ a b c "Techtronic Industries Co Ltd". Reuters. Archived from the original on April 16, 2021. Retrieved March 10, 2021.
  6. ^ "Power Tool Manufacturers and Who Really Owns Them". Pro Tool Reviews. July 14, 2021. Retrieved August 5, 2021.
  7. ^ a b Engardio, Pete url=https://www.bloomberg.com/news/articles/2006-07-30/emerging-giants (July 31, 2006). "Emerging Giants". {{cite web}}: Missing or empty |url= (help); Missing pipe in: |first1= (help)CS1 maint: numeric names: authors list (link)
  8. ^ a b Dembina, Andrew (February 2003). "Doing it yourself". Hong Kong Business. pp. 12–14.
  9. ^ 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.
  10. ^ "Techtronic: "We Have The Vision To Be No. 1"". Bloomberg Businessweek. July 30, 2006. Retrieved May 17, 2021.
  11. ^ "3 Highlights from Techtronic Industries Co Ltd's H1 2019 Results". The Motley Fool. September 3, 2019. Archived from the original on April 16, 2021. Retrieved March 11, 2021.
  12. ^ 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).
  13. ^ 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.
  14. ^ 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.
  15. ^ 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.
  16. ^ Antosiewicz, Frank (August 4, 2014). "Buyer plans to sell former Hoover plants". Plastics News. Vol. 26. Crain Communications. p. 3.
  17. ^ 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.
  18. ^ 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.
  19. ^ a b Pugh, Chris (January 31, 2007). "Future of Hoover plant in doubt". The Independent. p. 1. ISSN 0951-9467. OCLC 185201487.
  20. ^ "200 Companies for 2002". Forbes. October 28, 2002. Archived from the original on July 21, 2021. Retrieved April 7, 2021.
  21. ^ "Hong Kong Awards for Industries 2008". Hong Kong Trade and Industry Department. Archived from the original on July 21, 2021. Retrieved April 7, 2021.
  22. ^ "Hong Kong Awards for Industries 2012". Hong Kong Trade and Industry Department. Archived from the original on July 21, 2021. Retrieved July 19, 2021.
  23. ^ "Best managed companies in Asia 2014". Euromoney. January 20, 2014. Archived from the original on September 28, 2020. Retrieved April 7, 2021.
  24. ^ 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.
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