Techtronic Industries Explained

Techtronic Industries should not be confused with TTI, Inc..

Techtronic Industries Company Limited
創科實業有限公司
Type:Public company
Location City:Hong Kong
Location Country:China
Area Served:Worldwide
Industry:Manufacturing
Products:Accessories
Hand Tools
Outdoor Power Equipment
Floorcare & Cleaning
Revenue:US$13.7 billion
Num Employees:49,778 [1]

Techtronic Industries Company Limited (TTI Group or TTI) is a Hong Kong-based multinational company that designs, produces, and markets power tools, outdoor power equipment, hand tools, and floor care appliances. It pioneered cordless power tools powered by lithium-ion rechargeable batteries.[2]

TTI's products are manufactured in China, Vietnam, the United States, Mexico, and Europe, and in 2023, had annual sales of US$13.7 billion.[3]

History

In 1985, TTI was founded by Horst Julius Pudwill and Roy Chi Ping Chung as an original equipment manufacturer for overseas brands. In 1987, it began to produce Craftsman cordless power tools for Sears followed by cordless, handheld vacuum cleaners for Bissell.[4] [5]

In 1990, TTI listed on the Hong Kong Stock Exchange under stock code 0669 by initial public offering. Its ADRs also trade on Nasdaq as TTNDY. In 2019, the company's shares became one of the 50 constituents of the Hang Seng Index.[6] [7] [8]

TTI acquired Ryobi Limited's North American power tools business in August 2000.[9] In August 2001 TTI acquired European Ryobi power tools business and in March 2002 TTI acquired two subsidiaries of Ryobi Limited, Ryobi Australia Pty Limited and Ryobi New Zealand Limited.[10]

Techtronic purchased Milwaukee Electric Tool from Atlas Copco in 2005 and began integrating lithium-ion batteries into their lineup.[11] [12]

Brands

TTI's brands include:

Floorcare & Cleaning

Awards

Notes and References

  1. Web site: TTI Group . 2024 Interim Results. live . August 9, 2024.
  2. Web site: HKEX News. 2023 Annual Report . live . https://web.archive.org/web/20240523035832/https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0327/2024032701112.pdf . May 23, 2024 . March 27, 2024.
  3. Web site: HKEX News . 2023 Annual Results . live . https://web.archive.org/web/20240306113045/https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0306/2024030601123.pdf . March 6, 2024 . March 6, 2024.
  4. News: Pudwill has plans for NovAtel . Anne . Crawford . E3 . . June 19, 1992 . . 1197-2823 . 29533985.
  5. Web site: Corporate Milestones . HKEX News . March 10, 2021 . April 16, 2021 . https://web.archive.org/web/20210416182733/https://www1.hkexnews.hk/listedco/listconews/sehk/2006/0426/00669/ewf102.pdf . live .
  6. Web site: Techtronic Industries Co Ltd . . March 10, 2021 . April 16, 2021 . https://web.archive.org/web/20210416182729/https://www.reuters.com/companies/TTNDF.PK . live .
  7. Web site: Power Tool Manufacturers and Who Really Owns Them . Pro Tool Reviews . 14 July 2021 . August 5, 2021.
  8. News: Doing it yourself . Dembina . Andrew . 12–14 . Hong Kong Business . February 2003.
  9. Web site: Shareholders Unanimously Approved The Acquisition of Ryobi Confirm Leadership Position in North America Power Tool Market . TechTronic Industries Company Limited . 2000-07-31 . 2023-12-14.
  10. Web site: TECHTRONIC Acquires RYOBI Power Tools Business in Australia & New Zealand . TechTronic Industries Company Limited . 2002-03-03 . 2023-12-14.
  11. Web site: Techtronic: "We Have The Vision To Be No. 1" . . July 30, 2006 . May 17, 2021.
  12. News: Emerging Giants . Engardio . Pete . Bloomberg.com . July 31, 2006.
  13. News: Buyer plans to sell former Hoover plants . Antosiewicz . Frank . 3 . . . August 4, 2014 . 26.
  14. Web site: Hoover parent snaps up Oreck at auction. G. Chambers Williams. III. USA TODAY. 2017-08-26. 2016-11-15. 2013-07-09. https://web.archive.org/web/20161115191635/http://www.usatoday.com/story/money/business/2013/07/09/oreck-bankruptcy-hoover-auction/2504095/. live.
  15. Web site: TTI Statement on Acquisition of Oreck. 2016-07-16. TTI Floor. Care. PR Newswire. August 8, 2022. May 15, 2017. https://web.archive.org/web/20170515161655/http://www.prnewswire.com/news-releases/tti-statement-on-acquisition-of-oreck-215754271.html. live.
  16. News: Future of Hoover plant in doubt . Pugh . Chris . 1 . . January 31, 2007 . 0951-9467 . 185201487.
  17. Web site: 200 Companies for 2002 . Forbes . October 28, 2002 . April 7, 2021 . July 21, 2021 . https://web.archive.org/web/20210721163053/https://www.forbes.com/global/2002/1028/048tab.html?sh=6869121848fc . live .
  18. Web site: Hong Kong Awards for Industries 2008 . Hong Kong Trade and Industry Department . April 7, 2021 . July 21, 2021 . https://web.archive.org/web/20210721163102/https://www.tid.gov.hk/hkindustryaward/mobile/english/winners/2008_cpd.html . live .
  19. Web site: Hong Kong Awards for Industries 2012 . Hong Kong Trade and Industry Department . July 19, 2021 . July 21, 2021 . https://web.archive.org/web/20210721163116/https://www.tid.gov.hk/hkindustryaward/en/winners/2012.html . live .
  20. Web site: Best managed companies in Asia 2014 . Euromoney . January 20, 2014 . April 7, 2021 . September 28, 2020 . https://web.archive.org/web/20200928184207/https://www.euromoney.com/article/b12kkglh47rjqj/best-managed-companies-in-asia-2014-by-sector . live .
  21. Web site: Home Depot announces 2020 Innovation Award winners . Salmonsen . Mary . Builder Online . October 12, 2020 . April 7, 2021 . December 25, 2020 . https://web.archive.org/web/20201225074353/https://www.builderonline.com/products/home-depot-announces-2020-innovation-award-winners_o . live .

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