Jump to content

Techtronic Industries

From Wikipedia, the free encyclopedia
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
  • Stiletto[8]
  • DreBo[7][clarification needed]

    • 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/w/index.php?title=Techtronic_Industries&oldid=1255619715"