Another great company is investing in America and American workers.
Stanley Black & Decker is preparing to invest almost $100 million dollars in bringing more production work to the U.S.
FOX Business reports:
Stanley Black & Decker investing $90M to shift more Craftsman production back to US
Stanley Black & Decker Opens a New Window. announced on Wednesday that it was investing $90 million in a plant in Texas – a move aimed at continuing its effort to shift production of a range of Craftsman products back to the U.S. Opens a New Window.
The new 425,000-square-foot facility will be located in Fort Worth, where tools ranging from sockets, ratchets, wrenches to general sets will be produced.
“When we purchased Craftsman in 2017 we were determined to revitalize this iconic U.S. brand and bring back its American manufacturing heritage,” Stanley Black & Decker President and CEO Jim Loree said in a statement.
“From the launch of Craftsman’s refreshed brand identity last year to our announcement of the first new manufacturing facility in many years, we’re demonstrating our continued commitment to grow the brand and bring even more production of these great products back to the United States.”
Stanley bought Craftsman from struggling retailer Sears in 2017, which continues to sell some of the brand’s products. In an effort to cut costs, Sears had outsourced production to places like China and Mexico.
During its most recent earnings call, Stanley said its growth in North America continued to be fueled by its Craftsman brand rollout, where it said it saw expansion across all categories.
Here’s a short video report:
This report from NBC 5 has more details:
Toolmaker Stanley Black & Decker Announces Fort Worth Plant, 500 Jobs
Toolmaker Stanley Black & Decker plans to open a manufacturing plant in North Texas and create about 500 jobs.
The Connecticut-based company on Wednesday announced groundbreaking will take place this summer on the CRAFTSMAN plant in Fort Worth.
A Stanley Black & Decker statement says the 425,000-square-foot complex should be completed by late 2020. The plant will make a variety of CRAFTSMAN mechanics tools, including sockets, ratchets, wrenches and general sets.
Stanley Black & Decker currently operates about 30 manufacturing facilities in the U.S., with more than 100 manufacturing units around the world.
This is great news for working Americans.