Power Tool Industry July 2019
Bosch has used their open-source-based Bosch IoT Suite to connect more than 10 million devices from various manufacturers and is now working with partners to enable those devices to communicate and interact in secure ecosystems. Bosch sold 52 million web-enabled products in 2018, up more than 33% from the previous year. Bosch gave attendees a glimpse of the interconnected future at Bosch ConnectedWorld 2019 in Berlin. Bosch CEO Dr. Volkmar Denner said that in the future things will not just be connected in order to communicate, but in order to enable them to do business together.
Stanley Black & Decker
Bank of America/Merrill Lynch initiated their coverage of SB&D stock with a rating of Underperform, noting that slowing power tool trends, a challenging auto segment, structural headwinds in Security and China supply chain exposure were all risks. They also said home values are rising at a slower rate, which they said has historically led to slower power tool demand. The analyst also felt that the Security business will be tough to fix and that selling is not an easy option.
SB&D won four Comparably Awards, including Best CEO as rated by Female employees, Best CEO as rated by racially diverse employees, Best Leadership Team and Best Company for Professional Development. Comparably Awards are derived from sentiment ratings provided by employees who anonymously rate their employer throughout the year in nearly 20 core culture categories. The final data was compiled from nearly 10 million ratings across 50,000 US companies on Comparably.com.
Milwaukee will open the latest new building in their global research and development headquarters in Brookfield in October. In addition, Milwaukee is reportedly attempting to acquire more neighboring land for their next expansion, according to Milwaukee Tool Group President Steve Richman. He went on to say they have to stop underestimating their needs and go “really big” in their next expansion. They want to acquire enough acreage to accommodate ten years’ worth of growth. Richman said they hope to be able to expand in Wisconsin, but will look elsewhere if necessary.
© Robert Bosch Tool Corporation. All rights reserved, no copying or reproducing is permitted without prior written approval.