Power Tool Industry January 2017
STANLEY BLACK & DECKER
SB&D is selling the majority of their lock and door security business to Swiss company dormakaba Group for $725 million. They are keeping the electronic security and automatic doors business. President and CEO James Loree said that the commercial electronic security business is inherently linked to the digital world and provides both stable recurring revenue and an opportunity to develop and market high growth high value customer solutions. The automatic door business also offers attractive growth opportunities. Dormakaba says the acquisition will make them a top-three provider to the American market.
George Buckley became the new chairman of SB&D January 1, succeeding John Lundgren, who retired in July as CEO after more than 12 years with the company, and stayed on as chairman until the end of the year. Lundgren will serve as a special adviser to the company through April 30, 2017. Buckley has been with the board since March 2010 and had been a director since 2006. He was previously CEO of 3M and Brunswick Corporations. Buckley actually began his career as an electrician apprentice in SB&D’s Sheffield, United Kingdom plant, where his family also worked.
Horst Pudwill, now 71 and founder of Techtronics, has no plans to retire, according to a recent interview in South China Morning Post. His 39-year-old son Stephan Pudwill, who is now vice chairman, says they are not going to let the senior Pudwill retire, he is too important to the business. Pudwill Senior says he wants to remain involved and see TTI double from its current $5 billion value.
Trimble is collaborating with Umbra to explore the use and integration of Umbra 3D graphics optimization technology as part of Trimble’s mixed-reality solutions to process and optimize complex 3D Building Information Models (BIM). The collaboration with Umbra is part of Trimble’s mixed-reality pilot program and solutions strategy designed to enable users to gather, analyze, visualize and share spatial information in a mixed-reality environment.
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