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More foreign-made tools in the future?
After I decided to renovate my own house to save a shit-load of money
(acting as my own contractor, doing the work myself, keeping that money here in the USA and not getting sent to Mexico every weekend), I decided to only buy American or at least whenever possible. Most of the building supplies are made in the USA (except the wood, and I can't tell where that is made), but it is hard to find American made tools. And don't call me a racist for not hiring illegal Mexican workers from across the border. They shouldn't be here and they should go the **** back home and petition their own government to improve the situation there, not come here and steal jobs and send their money back home. Or at least they should work to get a green card and learn to speak English - you come to my county so don't expect me to learn your language! It's like Americans expecting everyone to speak English when they travel overseas! It was getting down to only Porter-Cable and Milwaukee brands. However, some of the Milwaukee brand tools are made in Mexico and also in the Czech Republic. Porter-Cable used to be made entirely in the USA, but I heard that they were bought by Black and Decker, who has already layed-off some 350 workers already and shipped some jobs to Mexico. I already know some Porter-Cable tools are made in China. I saw a Milwaukee grinder made in Mexico for $99 with no case, a DeWalt grinder with a paddle switch for $89 with a case (made in Mexico) and a lesser-priced DeWalt made in Brazil with no case for $49. I contacted Porter-Cable to see if they had any decent angle grinders made in the USA, since no one seemed to stock them. Someone from P-C CS told me there was one discontinued grinder that was made in America, so I ordered it from Lowe's because they had the best price on the item. It came in ten days later in a box which had "Hecho en China" on it, and it was of course dead on arrival (bad slider switch). So I went and bought a DeWalt for $49 with a two-year warranty, since I wasn't going to spend $99 on a grinder and not get a case with it. I also recently read that Techtronic Industries, owners of Ryobi, Ridgid, Homelite, Regine, Royal, Dirt Devil and Vax, recently spent 713 million for the purchase of Milwaukee Tools and Atlas Copco Compressors. Does this all mean that no more tools are going to be made in the USA? They either charge the same price for the tool and it isn't any better (and often doesn't work as well) or they charge less and they definately don't work as well. I do want to buy American and want to keep my tool-purchasing dollars over in the USA. But I am a little worried about purchasing tools from companies and then getting them replaced under warranty with inferior tools made overseas - which is the same ****ing thing as buying tools "Hecho en Mexico" or "Hecho en China". GOLDEN VALLEY, Minn., July 19 /PRNewswire-FirstCall/ -- Pentair, Inc. (NYSE: PNR - News) announced today that it has concluded its exploration of strategic alternatives for its wholly owned Tools Group, and that it has signed a definitive agreement to sell the Group to The Black & Decker Corporation (NYSE: BDK - News) of Towson, Maryland, for approximately $775 million. The transaction is expected to close in 2004, following the completion of customary regulatory clearance. "In the 1990s, Pentair was largely defined by its top-performing tools businesses but, today, the water and enclosures businesses are the driving forces in our growth and expansion," said Randall J. Hogan, Pentair chairman and chief executive officer. "The premier brands comprising our Tools Group continue to represent great value and have performed well against their competitors. However, the opportunities we see in the expansion of our Water and Enclosures Groups made the sale of the Tools Group a logical step to build greater value for Pentair shareholders. The Tools Group is a strong business that performed well for Pentair, and we believe it will continue to grow and prosper under the ownership of Black & Decker." Black & Decker is a global manufacturer and marketer of quality power tools and accessories, hardware and home improvement products, and technology-based fastening systems. Pentair's Tools Group comprises the Porter-Cable, Delta, DeVilbiss Air Power, Oldham Saw, and FLEX brands, among others. The Group employs approximately 4,200 people at facilities in North America, Europe and Asia. "Black & Decker is a recognized leader in the power tool industry and has proven its ability to grow and sustain strong brand names," Hogan said. "We are very confident that we are placing our Tools Group in the hands of a team that can further build the tools businesses to benefit their customers, their suppliers, and their employees." Pentair noted that the proceeds from the sale of the Tools Group will be used to pay down debt associated with Pentair's acquisition of WICOR Industries, which recently was approved by the Federal Trade Commission and is expected to be complete at the end of July. "Going forward, with Pentair's full resources focused on the growth and expansion of the Water and Enclosures Groups, we will become a much stronger, more nimble company, Hogan said. "We also expect to be much better positioned to achieve with greater consistency the growth goals our shareholders expect." Pentair will report earnings for the second quarter of 2004 on Wednesday, July 21. A conference call scheduled for 11:00 a.m. CDT that day will be webcast live via http://www.pentair.com. A link to the conference call is posted on the site's "Financial Information" page and will be archived at the same location. About Pentair, Inc. Pentair (http://www.pentair.com) is a diversified operating company headquartered in Minnesota. Its Water Technologies Group is a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage and enjoyment of water. Pentair's Enclosures group is a leader in the global enclosures market, serving industrial and electronic customers, and its Tools Group markets innovative products under established brand names to professionals and do-it-yourself users. Pentair's 2003 revenues totaled $2.7 billion. The company employs 13,500 people in more than 50 locations around the world. Any statements made about the company's anticipated financial results are forward-looking statements subject to risks and uncertainties such as the ability to complete the sale of the Tools Group on its expected timetable, the ability to obtain regulatory approvals of the sale of the Tools Group on anticipated terms and schedule, continued economic growth; foreign currency effects; retail and industrial demand; product introductions; and pricing and other competitive pressures. Forward-looking statements included herein are made as of the date hereof and the company undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results. http://www.bizjournals.com/memphis/s...07/story5.html EXCLUSIVE REPORTS From the March 4, 2005 print edition Porter-Cable losing 350 Jackson jobs Jane Aldinger JACKSON, Tenn. -- Porter-Cable Corp. is laying off 350 people in Jackson after being acquired by Black & Decker in October. Most of the eliminated jobs are manufacturing and assembly positions that are being shipped south to Reynosa, Mexico. Black & Decker has a large professional tool facility in Reynosa that will absorb production being lost in Jackson, says Barbara Lucas, Black & Decker senior vice president of public affairs. "These kinds of tools can be easily absorbed in some of our facilities where we've already got the scale and the efficiencies in place," Lucas says. Porter-Cable, a power tool manufacturer, currently employs about 1,650 people in Jackson but that number will decrease to about 1,300 when the layoffs are complete. Towson, Md.-based Black & Decker eliminated 75 non-manufacturing jobs in October, which were mostly staff and support positions from Porter-Cable and Jackson's DeVilbiss facility. DeVilbiss Air Power was also part of Black & Decker's acquisition. In addition to the power tools manufacturing and assembly shift, Black & Decker is initiating other production movement within its newly acquired companies. Porter-Cable is relocating a reconditioning operation from Jackson to Reynosa and another Black & Decker facility in McAllen, Texas. Lucas says Jackson will see the addition of some router bit manufacturing from a plant in North Carolina, and the moving of air compressors from Reynosa to the DeVilbiss facility. The company could not specify the number of jobs lost and gained within each division. Lucas says Black & Decker's actions will ultimately result in the net loss of 350 Jackson jobs, almost exclusively in the manufacturing arena. Black & Decker announced its intention to purchase the Tools Group from Pentair, Inc., in July 2004 and finalized that $775 million transaction in October. The Tools Group, with 2003 sales of $1.08 billion and operating profit of $82 million, includes Porter-Cable, Delta, DeVilbiss Air Power, Oldham Saw and Flex businesses. Lucas says the company has not announced any other programs or actions that would eliminate more jobs in Jackson. 1,300 employees is still a very large presence for Black & Decker in any market, she says. Paul Latture, president and CEO of the Jackson Chamber of Commerce, says the sheer size of Black & Decker and Pentair Tools Group dictates job loss. "When two companies join together, there's obviously going to be synergies and duplication," Latture says. "It would be our hope that we have no more job loss than we have and also that this will make Black & Decker more competitive in the marketplace and Jackson will continue to be a shining star in their system." Despite the job loss, Black & Decker is still Jackson's largest manufacturer. Latture says prospect activity in Jackson is good, and he hopes to land some active recruits soon. BlueScope Butler was the latest good news; the steel component manufacturer announced late last year that it would open a plant in Jackson employing 150 people. Melissa Rivers, regionalism director with the Memphis Regional Chamber, says Jackson has taken a hit from Black & Decker, but should rebound soon. "Any time a community has a loss of 350 jobs, it's a blow to the local and regional economy," Rivers says. "However, the Jackson Area Chamber of Commerce has a strong economic development team with a long track record of success in recruiting manufacturing jobs. We're confident that they will recover from this very quickly." Latture is also confident that Jackson's diversified economy will help those who are losing their jobs find employment elsewhere. Lucas says Black & Decker will provide severance and job placement assistance to the unemployed and is making them aware of openings for transfers. The city of Jackson and Madison County will also work to match those employees up with different opportunities, Latture says. Black & Decker, traded on the New York Stock Exchange under ticker symbol BDK, is a global manufacturer and marketer of quality power tools and accessories, hardware and home improvement products, and technology-based fastening systems. CONTACT staff writer Jane Aldinger at 259-1727 or © 2005 American City Business Journals Inc. All contents of this site © American City Business Journals Inc. All rights reserved. |
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