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'{{distinguish|TTI, Inc.}} {{Short description|Hong Kong China manufacturer of power equipment}} {{Use American English|date=August 2022}} {{Use mdy dates|date=August 2022}} {{Infobox company | name = Techtronic Industries Company Limited <br /> 創科實業有限公司 | logo = Techtronic Industries logo.png | type = [[Public company]] | genre = | traded_as = {{ubl|{{SEHK|669}}|{{OTCQX|TTNDY}}|{{OTCQX|TTNDF}}}} | 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/>}} | location_city = [[Hong Kong]]<ref name=forbes/> | location_country = [[China]] | location = | origins = | 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)}}<ref name=forbes/>|Frank Chan {{smaller|(Group Chief Financial Officer)}}<ref name=forbes/>}} | area_served = Worldwide | industry = Manufacturing<ref name=forbes/> | products = {{ubl|[[Power tools]]<ref name=forbes/>|[[Electronic equipment]]<ref name=forbes/>}} | services = | revenue = US$13.7 billion {{smaller|(2023)}}<ref name="TTI 2023 result"/> | operating_income = | net_income = | num_employees = 47,224 {{smaller|(2023)}}<ref name="TTI 2023 result"/> | parent = | divisions = | owner = | slogan = | homepage = {{URL|https://www.ttigroup.com/}} }} '''Techtronic Industries Company Limited''' ('''TTI Group''' or '''TTI''') is a [[Hong Kong China]]–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> 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> ==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 (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"/> 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 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> 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== TTI's brands include: {{columns-list|colwidth=25em| '''Power Tools''' *[[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> *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> *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> *[[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"/> *[[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> ==Awards== * [[Forbes]] ''World’s Best 200 Small Companies'', 2002<ref name="Forbes Oct2002">{{cite web |title=200 Companies for 2002 |last1= |first1= |url=https://www.forbes.com/global/2002/1028/048tab.html?sh=6869121848fc |work=Forbes |date=October 28, 2002 |access-date=April 7, 2021 |archive-date=July 21, 2021 |archive-url=https://web.archive.org/web/20210721163053/https://www.forbes.com/global/2002/1028/048tab.html?sh=6869121848fc |url-status=live }}</ref> * Hong Kong Awards for Industries ''Consumer Product Design'', 2008 and 2012<ref name="TID 2008Awards">{{cite web |title=Hong Kong Awards for Industries 2008 |last1= |first1= |url=https://www.tid.gov.hk/hkindustryaward/mobile/english/winners/2008_cpd.html |work=Hong Kong Trade and Industry Department |date= |access-date=April 7, 2021 |archive-date=July 21, 2021 |archive-url=https://web.archive.org/web/20210721163102/https://www.tid.gov.hk/hkindustryaward/mobile/english/winners/2008_cpd.html |url-status=live }}</ref><ref name="TID 2012Awards">{{cite web |title=Hong Kong Awards for Industries 2012 |last1= |first1= |url=https://www.tid.gov.hk/hkindustryaward/en/winners/2012.html |work=Hong Kong Trade and Industry Department |date= |access-date=July 19, 2021 |archive-date=July 21, 2021 |archive-url=https://web.archive.org/web/20210721163116/https://www.tid.gov.hk/hkindustryaward/en/winners/2012.html |url-status=live }}</ref> * [[Euromoney]] ''Best Managed Company in Asia - Consumer Goods'', 2014<ref name="Euromoney Jan2014">{{cite web |title=Best managed companies in Asia 2014 |last1= |first1= |url=https://www.euromoney.com/article/b12kkglh47rjqj/best-managed-companies-in-asia-2014-by-sector |work=Euromoney |date=January 20, 2014 |access-date=April 7, 2021 |archive-date=September 28, 2020 |archive-url=https://web.archive.org/web/20200928184207/https://www.euromoney.com/article/b12kkglh47rjqj/best-managed-companies-in-asia-2014-by-sector |url-status=live }}</ref> * [[The Home Depot]] ''Environmental Partner of the Year'' and ''Interconnected Partner of the Year'', 2020<ref name="BuilderOnline Oct2020">{{cite web |title=Home Depot announces 2020 Innovation Award winners |last1=Salmonsen |first1=Mary |url=https://www.builderonline.com/products/home-depot-announces-2020-innovation-award-winners_o |work=Builder Online |date=October 12, 2020 |access-date=April 7, 2021 |archive-date=December 25, 2020 |archive-url=https://web.archive.org/web/20201225074353/https://www.builderonline.com/products/home-depot-announces-2020-innovation-award-winners_o |url-status=live }}</ref> ==References== {{reflist}} {{Hang Seng Index}} {{Techtronic Industries}} {{Tool manufacturers}} {{Power tool manufacturers}} {{Authority control}} [[Category:Companies listed on the Hong Kong Stock Exchange]] [[Category:Engineering companies of Hong Kong]] [[Category:Electronics companies of Hong Kong]] [[Category:Manufacturing companies established in 1985]] [[Category:Electronics companies established in 1985]] [[Category:1985 establishments in Hong Kong]] [[Category:Power tool manufacturers]] [[Category:Conglomerate companies of Hong Kong]] [[Category:Hong Kong brands]]'