Power Tool Industry March 2020
Bosch Connected Mobility Solutions has formed an agreement with China’s innovative mobility technology company, Human Horizons, to cooperate on new technology, described as Battery in the Cloud. Human Horizons noted that Bosch is a leading supplier of automotive and smart transportation products and services and experienced in preventative safeguards based on Internet of Things (IoT) and big data solutions. While this particular agreement is focused on extending car battery life, it could have implications for other types of batteries.
Bosch has established ethical “red lines” for the use of artificial intelligence (AI) and issued company guidelines for the use of AI in Bosch products. Bosch stated that people should be able to trust Bosch’s AI-based products. Bosch wants to have all products either contain AI or have been developed or manufactured with the support of AI applications by 2025.
Stanley Black & Decker
SB&D will be the anchor client for a Global Delivery Center that HCL Technologies is opening in Hartford, Connecticut. The center will offer digital transformation services to clients in the smart manufacturing, insurance, aerospace and defense industries. HCL will help transform SB&D’s global application and infrastructure environments to enhance the company’s agility and ability to respond to emerging business needs, according to both companies. As part of the deal, HCL will deploy 1,000 people globally for SB&D. HCL has a deep history in Connecticut and operates in 45 countries with consolidated revenues of $9.7 billion.
Milwaukee Tool corrected a media report claiming that they were considering moving production for some power tools products to Cookeville, Wisconsin. Milwaukee says they are considering manufacturing a vacuum line in Cookeville at what they described as an existing sister company location. They are not planning on building a new power tool plant there.
Milwaukee Tool is suing Shaf International, the company that makes Milwaukee Leather and Milwaukee Performance products, accusing it of misleading customers and tarnishing the reputation of Milwaukee Tool’s logo and brand equity. Shaf International sells products under the Milwaukee Leather and Milwaukee Performance brands. Milwaukee says the products are confusingly similar to their heated apparel and tool bags, and that customers believe they are buying Milwaukee Tool products. Milwaukee already opposed Shaf’s trademark application for the Milwaukee Performance brand and sent the company several cease and desist letters before filing suit.
TTI received approval to set up a parts factory in Vietnam. The project, reportedly worth $650 million, will also include R&D activities in electronics. According to plans filed in Saigon, TTI expects to make deals with between 80 and 150 local suppliers who reportedly expect to make $1 billion US annually from the project. TTI Vice Chairman Stephan Pudwill said that the park is ideally situated. Vietnam has seen a strong influx of foreign investment as companies try to move manufacturing out of China.
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