Power Tool Industry September 2021
Robert Bosch Tool Corporation
Bosch’s RefinemySite digitizes components of the last planner system, a lean construction production planning and control process designed to produce predictable workflows and rapid learning in the planning, design, construction and commissioning of projects. RefinemySite will create and share visual information in real time onsite or with employees working remotely.
Bosch Bluehound helps eliminate the problems caused by lost or misplaced tools. It uses Bluetooth tags and a cloud-based platform to gather data on tagged equipment with minimal work needed by users. The digital asset management tags give the user asset location history, operational status, deliveries, maintenance records and documentation which is readily accessible by workers, supervisors, auditors and construction executives.
Stanley Black & Decker
SB&D is requiring US employees to wear masks regardless of vaccination status but will not mandate vaccinations for fear workers might quit or strike, according to CFO Don Allan. Allan said the recent surge in cases due to the Delta variant has made it clear the pandemic is not behind us. SB&D said they might introduce a vaccination requirement later; they are watching to see what other companies are doing. Now that the Pfizer vaccine has been approved for standard use, it will make it easier for both private companies and the government to mandate vaccination. SB&D operates vaccination centers in certain locations and brings in doctors to explain why vaccinations are safe. One such plant in Missouri went from a 20% vaccination rate to a 37% rate after hosting a program. SB&D is also capping the number of people allowed to work in offices, depending on location. SB&D also recently pushed back a pilot project to test new tools for hybrid work from August to September and also reduced the number of people participating in the test.
SB&D agreed to acquire the remaining 80% stake in MTD Holdings for $1.6 billion. MTD generated revenue of $2.5 billion in the last 12 months. Ohio-based MTD specializes in outdoor power equipment and utility vehicles.
SB&D was named to Forbes’ annual list of America’s Best Employers for Women, ranking fifth in the “Semiconductors, Electronics, Electrical Engineering, Technology Hardware & Equipment” category and #241 out of 300 companies overall. This is the second consecutive year SB&D made the list. SB&D was also named to Comparably’s list of Best CEOs for Women and Best Leadership Teams. Mogul also recognized them as one of the Top 100 Workplaces with the Best D&I initiatives.
SB&D was named to Fast Company’s Best Workplaces for Innovators for the second year in a row. They moved up 14 spots to No. 41 on the list of 100 companies. Industries evaluated included computer science, biotech, consumer packaged goods, nonprofits, financial services, education, cybersecurity and engineering. A panel of eight judges reviewed and scored 1,500 applications.
First half sales grew 52.0% to US$6.4 billion. The TTI Power Equipment segment delivered sales growth of 55.3% to US$5.8 billion. All geographies and business units contributed positive growth. Milwaukee Tools revenue grew 64.1% globally. RYOBI performed exceptionally well across all brands with solid double-digit growth in all categories and geographies.
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