Stanley Black & Decker

From Wikipedia, the free encyclopedia
  (Redirected from Stanley Works)
Jump to: navigation, search
Stanley Black & Decker, Inc.
Type Public (NYSESWK)
S&P 500 Component
Industry Hardware
Founded 1843[1]
Founder(s) Frederick Trent Stanley
S. Duncan Black
Alonzo G. Decker
Headquarters New Britain, Connecticut, United States
Key people John F. Lundgren
(Chairman and CEO)
James M. Loree (EVP and COO)
Products Tools, hardware, security, medical equipment
Revenue US $10.190 billion (2012)[2]
Net income US $ 883.8 mil (2012) [2]
Employees 45,327 [3]
Website stanleyblackanddecker.com

Stanley Black & Decker, Inc., formerly known as The Stanley Works, is a Fortune 500 American manufacturer of industrial tools and household hardware and provider of security products and locks headquartered in New Britain, Connecticut. Stanley Black & Decker is the result of the merger of Stanley Works and Black & Decker on March 12, 2010.[4]

History[edit]

The company came to existence as a direct result of the 1920 merger of Stanley's Bolt Manufactory, founded by Frederick Trent Stanley in 1843, and the Stanley Rule and Level Company,[5] founded by Frederick's cousin, Henry Stanley, in 1857.

During World War II, Stanley Works received the Army-Navy "E" Award for excellence in war production.[6]

WWII Army-Navy Production Award to Stanley Works, presentation program, January 20, 1943

In May 2002, the company considered moving its corporate headquarters to Bermuda, but public and governmental outcry forced management to reconsider the move. By August 2002, the company had decided to maintain its incorporation in the United States.

John F. Lundgren was elected as Chairman and Chief Executive Officer in 2004, replacing John Trani, a former protégé of Jack Welch at General Electric.

The Hardware & Home Improvement Group, including the Kwikset, Weiser, Baldwin, National Hardware, Stanley, FANAL, Pfister and EZSET brands, was acquired by Spectrum Brands Holdings, Inc. on Dec. 17, 2012.[7]

Acquisitions[edit]

  • 1937: Stanley Works entered the UK market with the acquisition of J.A Chapman of Sheffield, England.[8]
  • 1946: Stanley Works acquired North Brothers Manufacturing Company.[9]
  • 1966: Stanley Works acquired Vidmar Cabinets.[10]
  • 1980: Stanley Works acquired Mac Tools.[8][11]
  • 1984: Stanley Works purchased Proto from Ingersoll Rand and it becomes Stanley Proto.[12]
  • 1986: Stanley Works acquired Bostitch from Textron.[13]
  • 1990: Stanley Works acquired Goldblatt[8][11] and ZAG Industries.[11]
  • 1990: Acquired Sidchrome Tool Co., headquartered in Melbourne, Australia; closed plant and moved all tool manufacturing to China.
  • 1992: Stanley Works purchased the Chatsworth, California-based Monarch Mirror Door Co. Inc., a 1,000-employee manufacturer of sliding and folding mirror-doors, formerly owned by Oscar Kain, of Los Angeles, California. Terms of the sale were not disclosed. HR Management headed by Ezequiel Peraza.
  • 2000: Stanley Works acquired Blick of Swindon, England,[8][11] a leading UK integrator of security solutions, communication, and time-management solutions to the commercial and industrial sectors, selling direct to end users, and CST Berger.[8][11]
  • 2002: In October, Stanley Works acquired Best Access Systems of Indianapolis, Indiana, for $310 million. The acquisition also prompted the creation of a new Access Controls Group for Stanley. Further additions to this new working group included Blick.
  • 2004: In January, Stanley announced plans to acquire Frisco Bay Industries Ltd., a Canadian provider of security integration services, for $45.3 million. In December, the acquisition of ISR Solutions, Inc., headquartered in Washington, D.C., was announced. ISR Solutions is an electronic security integrator providing the U.S. federal government and commercial customers with access security system services.
  • 2005: In January, the acquisition of Security Group, Inc. was announced. Security Group was composed of two primary operating companies: Sargent & Greenleaf, Inc., a manufacturer of medium- and high-security locks; and Safemasters, a North American provider of physical security installation, maintenance and repair services, with an emphasis on mechanical locking systems. An additional acquisition of Precision Hardware was made in 2005.
  • 2006: Stanley furthered its corporate assets in the security market by acquiring HSM Electronic Protection Systems after it had been spun off from Honeywell in compliance with pre-emptive Securities and Exchange Commission antitrust rulings. In the meantime, the company obtained security contracts as the primary contractor to secure three NASA spaceflight centers.[14] Stanley Works also acquired Facom.[8][11]
  • 2007: Late in the year, Stanley acquired OSI Security of Chula Vista, California, a provider of battery-operated wireless lock technology and supplies to government, education, and healthcare industries.
  • 2008: Acquired Beach Toolbox Industries, headquartered in Smith Falls, Ontario, Canada; then closed the plant.
  • 2008: In June, Stanley announced the acquisition of Sonitrol, which provides high-end security systems that use audio listening devices as the primary means of intrusion detection. Since the 1960s, they have accumulated over 100,000 commercial accounts in over 150 cities, and have an impressive record of helping police departments apprehend criminals. There is a combination of corporate owned locations and franchise locations. Stanley also acquired Xmark Corporation, which for over 25 years has provided Radio Frequency Identification (RFID) solutions to locate and protect people and medical equipment in healthcare environments. As of 2008, many of the Stanley Security Services divisions were being integrated under the unified HSM brand.
  • 2009: On November 2, Stanley announced a merger with Black & Decker.[15] The merger was completed on March 12, 2010.[16]
  • 2010: In July, the company announced the acquisition of CRC-Evans Pipeline International.[17] CRC-Evans provides total project support for pipeline construction contractors with automatic welding and other pipeline construction specific equipment and personnel.
  • 2011: On September 9, the acquisition of Niscayah was complete.
  • 2012: On January 1, the acquisition of Lista North America, headquartered in Holliston, Massachusetts, was completed.[18]
  • 2012: On June 5, the acquisition of AeroScout, Inc., headquartered in Redwood City, California, was completed.[19]

Divisions[edit]

Infrastructure[edit]

  • CRC-Evans (Stanley Oil & Gas) International – Construction of pipelines for the oil and gas industry
  • Stanley Hydraulic Tools

Hardware[edit]

  • Baldwin – Acquired in 2010.
  • Emhart Teknologies – Fastening and assembly. Acquired in 2010. Later renamed Stanley Engineered Fastening
  • National Hardware – General hardware. Acquired in 2005.
  • Precision Hardware – Panic and fire exit hardware.
  • Stanley Hardware
  • Vidmar – Industrial storage. Acquired in 1966.

Health care[edit]

  • Senior Technologies
  • Stanley Health Care Solutions
    • InnerSpace – Health care supply storage.
    • AeroScout; Real-time location systems (RTLS).

Security[edit]

  • Best Access Systems – Door hardware and locks. Acquired in 2002.
  • C.J. Rush Industries (Canada) – Revolving doors and entrance systems.
  • EVS (Canada)
  • Frisco Bay Industries Ltd. (Canada)
  • Frisco-ATMS (Canada)
  • Générale de Protection (France)
  • HSM – Security services.
  • Intivid Solutions – Video electronics.
  • Safemasters
  • Sargent and Greenleaf, Inc.
  • Sielox Security Systems (Australia)
  • Stanley Access Technologies
  • Stanley Door Closers
  • Stanley Security Solutions
    • Stanley Correctional Services – Security systems for correctional industry. Formerly Integrator.
  • Weiser Lock – Door locks and door hardware. Acquired in 2010.
  • Niscayah AB. Acquired in 2011

Tools[edit]

  • Bostitch – Fastening tools. Acquired in 1986.
  • Facom (France) – Professional tools. Acquired in 2006.
  • Mac Tools – Professional tools. Acquired in 1980.
  • Oldham Blades – Saw blades. Acquired in 2010.
  • Proto – Industrial hand tools. Acquired in 1984.
    • Blackhawk – Mechanic's tools. Acquired in 1986.
  • Sidchrome (Australia/New Zealand) – Mechanic's tools. Acquired in 1990.
  • Stanley Assembly Technologies
  • Stanley Hand Tools – Carpentry and construction hand tools.
  • Stanley Hydraulic Tools
  • InnerSpace - A provider of healthcare storage solutions and inventory management analysis. InnerSpace also provides web-based supply management software that utilizes barcoding technology to increase charge capture, reduce excess inventory, and eliminate waste. Acquired in 2006
  • Stanley Supply & Services – MRO products and services. Formerly Contact East and Jensen Tools – renamed in 2006.
  • Vector Products – Battery chargers, power inverters, and similar power products. Acquired in 2007. Later sold to Baccus Global in 2010.
  • Virax (France) – Plumbing tools. Acquired in 2006.

Executive compensation[edit]

In July 2011, The New York Times reported Chief Executive Officer John F. Lundgren made $21.7 million in compensation.[22]

Notes[edit]

  1. ^ Stanley Works. "Company History". Retrieved January 9, 20089. 
  2. ^ a b "SWK - Finance". Retrieved March 25, 2012. 
  3. ^ "SWK Company - Finance". Retrieved March 25, 2012. 
  4. ^ "Stanley and Black & Decker Complete Merger" (Press release). Stanley Black & Decker. March 12, 2010. Retrieved March 19, 2010. 
  5. ^ "Patrick's Blood and Gore". Leach, Leach.  Enormously detailed model history of planes manufactured by Stanley.
  6. ^ "File:Army-Navy Production Award to Stanley Works, presentation program, January 20, 1943 - New Britain Industrial Museum - DSC09905.JPG". Wikimedia Commons. Retrieved 2014-01-21. 
  7. ^ [1], 17 December 2012, Businesswire
  8. ^ a b c d e f Staff (undated). "Stanley". infomat.net. Archived from the original on July 28, 2011. Retrieved August 18, 2012. 
  9. ^ Wiktor Kuc. "North Bros. Manufacturing Company - Historical Overview". wkFineTools.com. Retrieved August 18, 2013. 
  10. ^ About Stanley Vidmar
  11. ^ a b c d e f [dead link] "Stanley Brand" (PDF format; requires Adobe Reader). Superbrands. Retrieved August 21, 2008. 
  12. ^ "Proto Tools 100th Anniversary Timeline". Stanley Proto. Retrieved August 21, 2008. 
  13. ^ [dead link] "Stanley Bostitch – Our History". Stanley Bostitch. Retrieved August 21, 2008. 
  14. ^ The Stanley Works, Annual Report, 2006.
  15. ^ Langlois, Shawn (November 2, 2009). "Stanley Works Buying Black & Decker in $4.5 Billion Deal". MarketWatch. Retrieved August 18, 2012.
  16. ^ Sentementes, Gus G. (March 12, 2010). "Black & Decker, Stanley Works Shareholders Approve Deal – New Firm, To Be Called Stanley Black & Decker, Will Begin Operations on Monday. The Baltimore Sun. Retrieved August 18, 2012.
  17. ^ [dead link] [2]. CRC-Evans.
  18. ^ Lista Announces Merger with Stanley Black and Decker
  19. ^ Stanley Black & Decker buys AeroScout, Shmulik Shelach, 6 June 2012, Globes
  20. ^ a b c Black and Decker shuttering N.C. plant April 13, 2005
  21. ^ "Delta/Porter Cable website. ->About Us/History -> Section Titled: "A New Era"". Retrieved December 31, 2010. 
  22. ^ "How Executive Pay Figures Were Calculated" (unsigned). The New York Times. July 3, 2011.

Further reading[edit]

  • Walter, John (1996). Antique & Collectible Stanley Tools: Guide to Identity & Value. Ohio: The Tool Merchant. ISBN 1-878911-02-3. 

External links[edit]