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| parent =
| parent =
| divisions =
| divisions =
| subsid = One World Technologies, Inc.<br>TTI Floor Care<br>TTI Floor Care North America
| subsid = [[Milwaukee Tools|Milwaukee Electric Tool Company]]<br>TTI Power Equipment<br>TTI Floor Care<br>Vax ltd.
| owner =
| owner =
| slogan =
| slogan =
| homepage = {{URL|https://www.ttigroup.com/}}
| homepage = {{URL|https://www.ttigroup.com/}}
}}
}}

'''Techtronic Industries Company Limited''' ('''TTI Group''' or '''TTI''') ([[Hong_Kong_Stock_Exchange|SEHK]]: 669) designs, produces, and markets [[power tools]], outdoor power equipment, hand tools, and floor care appliances under a variety of wholly owned and licensed brands. The company's products are used by consumers, professionals, and industrial users in the home, construction, maintenance, industrial and infrastructure industries.<ref name="BloombergProfile">{{cite web |title=Techtronic Industries Co Ltd |last1= |first1= |url=https://www.bloomberg.com/quote/669:HK |work=[[Bloomberg News]] |publisher=[[Bloomberg L.P.]] |accessdate=March 10, 2021}}</ref> TTI was the first company to produce heavy-duty cordless power tools powered by [[Lithium-ion battery|lithium-ion]] rechargeable batteries.<ref name="Bloomberg July2006">{{cite web |title=Emerging Giants |url=https://www.bloomberg.com/news/articles/2006-07-30/emerging-giants?sref=T0D4X01s |work=Bloomberg News |date=July 30, 2006 |accessdate=March 10, 2021}}</ref> Its expertise in [[brushless motor]]s, advanced system electronics and firmware has contributed to the company's performance.<ref name="SCMP Aug2018">{{cite news |title=Laser focus drives gains |last1=Cremer |first1=John |work=[[South China Morning Post]] |page=3 |date=August 18, 2018 |oclc=648902513}}</ref>
'''Techtronic Industries Company Limited''' ('''TTI Group''' or '''TTI''') ([[Hong_Kong_Stock_Exchange|SEHK]]: 669) designs, produces, and markets [[power tools]], outdoor power equipment, hand tools, and floor care appliances under a variety of wholly owned and licensed brands. The company's products are used by consumers, professionals, and industrial users in the home, construction, maintenance, industrial and infrastructure industries.<ref name="BloombergProfile">{{cite web |title=Techtronic Industries Co Ltd |last1= |first1= |url=https://www.bloomberg.com/quote/669:HK |work=[[Bloomberg News]] |publisher=[[Bloomberg L.P.]] |accessdate=March 10, 2021}}</ref> TTI was the first company to produce heavy-duty cordless power tools powered by [[Lithium-ion battery|lithium-ion]] rechargeable batteries.<ref name="Bloomberg July2006">{{cite web |title=Emerging Giants |url=https://www.bloomberg.com/news/articles/2006-07-30/emerging-giants?sref=T0D4X01s |work=Bloomberg News |date=July 30, 2006 |accessdate=March 10, 2021}}</ref> Its expertise in [[brushless motor]]s, advanced system electronics and firmware has contributed to the company's performance.<ref name="SCMP Aug2018">{{cite news |title=Laser focus drives gains |last1=Cremer |first1=John |work=[[South China Morning Post]] |page=3 |date=August 18, 2018 |oclc=648902513}}</ref>

The company was founded by Horst Julius Pudwill and Roy Chi Ping Chung GBS BBS JP in 1985.<ref name="SCMP Dec2016">{{cite web |title=Techtronic: from small-time tool maker to powerful global leader |last1=Hollingsworth |first1=Julia |url=https://www.scmp.com/business/article/2049262/techtronic-small-time-tool-maker-powerful-global-leader |work=South China Morning Post |date=December 1, 2016 |accessdate=March 10, 2021}}</ref> TTI's brand portfolio includes [[Milwaukee Tools]], [[AEG]], [[Ryobi]], [[Homelite Corporation|Homelite]], Empire, Stiletto, [[The Hoover Company|Hoover]] US, Hart, [[Oreck]], [[Vax (brand)|Vax]], and [[Dirt Devil]]. It has a worldwide customer reach, and staff of more than 48,000. TTI has manufacturing bases and facilities in China, Vietnam, the U.S., Mexico and Europe. In 2020, TTI's annual sales were more than US$9.8 billion.<ref name="TTI 2020 report">{{cite web |title=2020 Annual Report |last1= |first1= |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0303/2021030301542.pdf |publisher=Techtronic Industries |date= |accessdate=March 10, 2021}}</ref> TTI has been listed on the [[Hong Kong Stock Exchange]] since 1990 and was listed as one of the [[Hang Seng Index]] constituent stocks in 2019.<ref name="SCMP Feb2019">{{cite web |title=Benchmark compiler Hang Seng Indexes adds tool maker Techtronic to gauge, ejects China Resources Power |last1=Yiu |first1=Enoch |url=https://www.scmp.com/business/companies/article/2187335/benchmark-compiler-hang-seng-indexes-adds-tool-maker-techtronic |work=South China Morning Post |date=February 22, 2019 |accessdate=March 10, 2021}}</ref>
The company was founded by Horst Julius Pudwill and Roy Chi Ping Chung GBS BBS JP in 1985.<ref name="SCMP Dec2016">{{cite web |title=Techtronic: from small-time tool maker to powerful global leader |last1=Hollingsworth |first1=Julia |url=https://www.scmp.com/business/article/2049262/techtronic-small-time-tool-maker-powerful-global-leader |work=South China Morning Post |date=December 1, 2016 |accessdate=March 10, 2021}}</ref> TTI's brand portfolio includes [[Milwaukee Tools]], [[AEG]], [[Ryobi]], [[Homelite Corporation|Homelite]], Empire, Stiletto, [[The Hoover Company|Hoover]] US, Hart, [[Oreck]], [[Vax (brand)|Vax]], and [[Dirt Devil]]. It has a worldwide customer reach, and staff of more than 48,000. TTI has manufacturing bases and facilities in China, Vietnam, the U.S., Mexico and Europe. In 2020, TTI's annual sales were more than US$9.8 billion.<ref name="TTI 2020 report">{{cite web |title=2020 Annual Report |last1= |first1= |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0303/2021030301542.pdf |publisher=Techtronic Industries |date= |accessdate=March 10, 2021}}</ref> TTI has been listed on the [[Hong Kong Stock Exchange]] since 1990 and was listed as one of the [[Hang Seng Index]] constituent stocks in 2019.<ref name="SCMP Feb2019">{{cite web |title=Benchmark compiler Hang Seng Indexes adds tool maker Techtronic to gauge, ejects China Resources Power |last1=Yiu |first1=Enoch |url=https://www.scmp.com/business/companies/article/2187335/benchmark-compiler-hang-seng-indexes-adds-tool-maker-techtronic |work=South China Morning Post |date=February 22, 2019 |accessdate=March 10, 2021}}</ref>


==History==
==History==
TTI was founded in 1985 in Hong Kong by Horst Julius Pudwill and Roy Chi Ping Chung.<ref name="WSJ Dec2003">{{cite news |title=After Years Behind the Scenes, Chinese Join the Name Game |last1=Kahn |first1=Gabriel |url=https://www.wsj.com/articles/SB107239182184989600 |work=[[The Wall Street Journal]] |date=December 26, 2003 |accessdate=March 10, 2021 |issn=0099-9660 |oclc=781541372}}</ref> TTI began as an [[original equipment manufacturer]] for overseas brands.<ref name="SCMP June2004">{{cite news |title=People come first in pursuit of excellence |last1=Oliver |first1=Rachel |page=1 |work=South China Morning Post |date=June 25, 2004}}</ref> [[Sears]] partnered with TTI in 1987 to produce [[Craftsman (tools)|Craftsman]]-branded cordless power tools.<ref name="HKEXNEWS TTI profile">{{cite web |title=Corporate Milestones |last1= |first1= |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2006/0426/00669/ewf102.pdf |work=HKEX News |date= |accessdate=March 10, 2021}}</ref> TTI entered the floor care industry when it began producing cordless handheld vacuum cleaners for the Bissell brand.<ref name="CalgaryHerald June1992">{{cite news |title=Pudwill has plans for NovAtel |last1=Anne |first1=Crawford |page=E3 |work=[[Calgary Herald]] |date=June 19, 1992 |publisher=[[Postmedia Network]] |issn=1197-2823 |oclc=29533985}}</ref> In 1990, TTI listed its shares on the [[Hong Kong Stock Exchange]] under the stock code 0669 by way of an [[initial public offering]].<ref name="SCMP Feb2019"/><ref name="HongKongBusiness Feb2003"/> TTI trades under the ticker TTNDY in the American stock market.<ref name="Reuters TTIprofile">{{cite web |title=Techtronic Industries Co Ltd |last1= |first1= |url=https://www.reuters.com/companies/TTNDF.PK |publisher=[[Reuters]] |accessdate=March 10, 2021}}</ref>
TTI was founded in 1985 in Hong Kong by Horst Julius Pudwill and Roy Chi Ping Chung.<ref name="WSJ Dec2003">{{cite news |title=After Years Behind the Scenes, Chinese Join the Name Game |last1=Kahn |first1=Gabriel |url=https://www.wsj.com/articles/SB107239182184989600 |work=[[The Wall Street Journal]] |date=December 26, 2003 |accessdate=March 10, 2021 |issn=0099-9660 |oclc=781541372}}</ref> TTI began as an [[original equipment manufacturer]] for overseas brands.<ref name="SCMP June2004">{{cite news |title=People come first in pursuit of excellence |last1=Oliver |first1=Rachel |page=1 |work=South China Morning Post |date=June 25, 2004}}</ref> [[Sears]] partnered with TTI in 1987 to produce [[Craftsman (tools)|Craftsman]]-branded cordless power tools.<ref name="HKEXNEWS TTI profile">{{cite web |title=Corporate Milestones |last1= |first1= |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2006/0426/00669/ewf102.pdf |work=HKEX News |date= |accessdate=March 10, 2021}}</ref> TTI entered the floor care industry when it began producing cordless handheld vacuum cleaners for the Bissell brand.<ref name="CalgaryHerald June1992">{{cite news |title=Pudwill has plans for NovAtel |last1=Anne |first1=Crawford |page=E3 |work=[[Calgary Herald]] |date=June 19, 1992 |publisher=[[Postmedia Network]] |issn=1197-2823 |oclc=29533985}}</ref> In 1990, TTI listed its shares on the [[Hong Kong Stock Exchange]] under the stock code 0669 by way of an [[initial public offering]].<ref name="SCMP Feb2019"/><ref name="HongKongBusiness Feb2003"/> TTI trades under the ticker TTNDY in the American stock market.<ref name="Reuters TTIprofile">{{cite web |title=Techtronic Industries Co Ltd |last1= |first1= |url=https://www.reuters.com/companies/TTNDF.PK |publisher=[[Reuters]] |accessdate=March 10, 2021}}</ref>
TTI developed a global brand portfolio by acquiring labels such as [[Milwaukee Tools]], [[The Hoover Company|Hoover]], [[Dirt Devil]] and buying brand licenses of [[Ryobi|Ryobi Power Tools]] and Ryobi Outdoor Power Equipment and [[AEG|AEG Power Tools]], expanding product categories and adding distribution channels to grow its geographical footprint.<ref name="SCMP Aug2018"/><ref name="Reuters TTIprofile"/>


⚫
===Brands and products===
TTI developed a global brand portfolio by buying labels including [[The Hoover Company|Hoover]], [[Dirt Devil]], [[Ryobi]] and [[Milwaukee Tools|Milwaukee]], expanding product categories and adding distribution channels to grow its geographical footprint.<ref name="SCMP Aug2018"/><ref name="Reuters TTIprofile"/> In 2014, the company was focused on the advancement of cordless technology as well as [[Lithium-ion battery|lithium-ion]] technology.<ref name="SCMP May2014">{{cite web |title=New products key to Techtronic's future, says founder's son |last1=Tsang |first1=Denise |url=https://www.scmp.com/business/companies/article/1502386/new-products-key-techtronics-future-says-founders-son?_escaped_fragment_=&edition=hong-kong |work=South China Morning Post |date=May 2, 2014 |accessdate=March 10, 2021}}</ref>
TTI produces power tools, accessories and hand tools, outdoor power equipment, layout and measuring products as well as floor care and cleaning products. Products are distributed through the company's brands, which include:
⚫
===Brands and acquisitions===
TTI's brands include:


*Milwaukee Tools<ref name="StuttgartNewspaper Aug2004"/>
⚫
* [[Vax (brand)|Vax]], Dirt Devil,<ref name="TheIndependent Jan2007">{{cite news |title=Future of Hoover plant in doubt |last1=Pugh |first1=Chris |page=1 |work=[[The Independent]] |date=January 31, 2007 |issn=0951-9467 |oclc=185201487}}</ref> and Royal: vacuum cleaner, carpet washer, and other cleaning tools<ref name="ClevelandBusiness Oct2005">{{cite news |title=Royal expects vacuum to suck sales from Dyson |last1=Booth |first1=John |page=5 |work=Cleveland Business |date=October 17, 2005}}</ref>
⚫
*AEG (under a license from [[Electrolux AB]])<ref name="StuttgartNewspaper Aug2004">{{cite news |title=Chinesen auf Einkaufstour; Techtronic übernimmt AEG Elektrowerkzeuge |last1=Pretzlaff |first1=Harry |trans-title=Chinese on a shopping spree; Techtronic takes over AEG power tools |url= |language=German |work=[[Stuttgarter Zeitung]] |date=August 31, 2004}}</ref>
* Ryobi: TTI purchased the brand license of Japan's Ryobi to become its primary manufacturer through a series of transactions<ref name="LewisLuk Dec2013">{{cite web |title=Case Studies on IP Trading among SMEs in Asia |last1=Luk |first1=Lewis |url=http://bipasiaforum.com/sources/ppt/2013/Lewis_Luk.pdf |publisher=Hong Kong Institute of Patent Attorneys |date=December 6, 2013 |accessdate=March 11, 2021}}</ref> TTI acquired Ryobi power tools operations in North America in 2000.<ref name="TTIAnnualReport 2000">{{cite web |title=Techtronic Industries Annual Report 2000 |last1= |first1= |url=https://doc.irasia.com/listco/hk/techtronic/annual/2000/ar2000.pdf |publisher=Techtronic Industries |date= |accessdate=March 11, 2021}}</ref>
* [[Homelite Corporation|Homelite]] (2001): outdoor power equipment brand and business<ref name="TheState Dec2001">{{cite news |title=Deere & Co. to Close Consumer Products Facility in Pontiac, S.C. |last1=LHeureux |first1=Dave |url= |work=[[The State (newspaper)|The State]] |publisher=[[McClatchy]] |date=December 19, 2001 |issn=0038-9994 |location=Columbia, South Carolina}}</ref>
*Ryobi (under a license from Ryobi limited)<ref name="LewisLuk Dec2013">{{cite web |title=Case Studies on IP Trading among SMEs in Asia |last1=Luk |first1=Lewis |url=http://bipasiaforum.com/sources/ppt/2013/Lewis_Luk.pdf |publisher=Hong Kong Institute of Patent Attorneys |date=December 6, 2013 |accessdate=March 11, 2021}}</ref>
*[[Homelite Corporation|Homelite]]<ref name="TheState Dec2001">{{cite news |title=Deere & Co. to Close Consumer Products Facility in Pontiac, S.C. |last1=LHeureux |first1=Dave |url= |work=[[The State (newspaper)|The State]] |publisher=[[McClatchy]] |date=December 19, 2001 |issn=0038-9994 |location=Columbia, South Carolina}}</ref>
⚫
* Atlas Copco Power Tools Division (2005), including Milwaukee and [[AEG]]<ref name="StuttgartNewspaper Aug2004">{{cite news |title=Chinesen auf Einkaufstour; Techtronic übernimmt AEG Elektrowerkzeuge |last1=Pretzlaff |first1=Harry |trans-title=Chinese on a shopping spree; Techtronic takes over AEG power tools |url= |language=German |work=[[Stuttgarter Zeitung]] |date=August 31, 2004}}</ref>
*Empire Level<ref name="MilwaukeeJournalSentinal Jan2020">{{cite web |title=Milwaukee Tool planning $26 million plant in West Bend; 100 new jobs planned by 2025 |last1=Taschler |first1=Joe |last2=Daykin |first2=Tom |url=https://www.jsonline.com/story/money/2020/01/27/milwaukee-tool-new-26-million-plant-planned-west-bend/4587289002/ |work=[[Milwaukee Journal Sentinel]] |publisher=[[Gannett]] |date=January 27, 2020 |accessdate=March 11, 2021 |issn=1082-8850 |oclc=55506548}}</ref>
⚫
* Hoover, from [[Whirlpool Corporation|Whirlpool]] (2007):<ref name="PlasticsNews Aug2014">{{cite news |title=Buyer plans to sell former Hoover plants |last1=Antosiewicz |first1=Frank |page=3 |work=[[Plastics News]] |publisher=[[Crain Communications]] |date=August 4, 2014 |volume=26}}</ref> floor care consumer and commercial vacuum cleaner, carpet washer, and cleaning tools<ref name="TheIndependent Jan2007"/>
* Stiletto<ref name="Reuters TTIprofile"/>
*Imperial Blade<ref name="Reuters TTIprofile"/><ref name="MilwaukeeJournalSentinal Jan2020"/>
* [[David_Oreck#Oreck_Corporation|Oreck]]<ref name="PlasticsNews Aug2014"/>
*Stiletto<ref name="Reuters TTIprofile"/>
* Empire Level<ref name="MilwaukeeJournalSentinal Jan2020">{{cite web |title=Milwaukee Tool planning $26 million plant in West Bend; 100 new jobs planned by 2025 |last1=Taschler |first1=Joe |last2=Daykin |first2=Tom |url=https://www.jsonline.com/story/money/2020/01/27/milwaukee-tool-new-26-million-plant-planned-west-bend/4587289002/ |work=[[Milwaukee Journal Sentinel]] |publisher=[[Gannett]] |date=January 27, 2020 |accessdate=March 11, 2021 |issn=1082-8850 |oclc=55506548}}</ref>
*Hart<ref name="ToolBoxBuzz 20Nov2019">{{cite web |title=Hart Tools Launches New Line of Tools at Walmart |last1=Fratzel |first1=Todd |url=https://www.toolboxbuzz.com/cordless-tools/hart-tools-launches-new-line-of-tools-at-walmart/ |work=Tool Box Buzz|date=November 20, 2019 |accessdate=July 20, 2021}}</ref>
⚫
*Hoover,<ref name="PlasticsNews Aug2014">{{cite news |title=Buyer plans to sell former Hoover plants |last1=Antosiewicz |first1=Frank |page=3 |work=[[Plastics News]] |publisher=[[Crain Communications]] |date=August 4, 2014 |volume=26}}</ref>
* Imperial Blade<ref name="Reuters TTIprofile"/><ref name="MilwaukeeJournalSentinal Jan2020"/>
*[[David_Oreck#Oreck_Corporation|Oreck]]<ref name="PlasticsNews Aug2014"/>
*[[Vax (brand)|Vax]]<ref name="TheIndependent Jan2007"/>
⚫
*Dirt Devil<ref name="TheIndependent Jan2007">{{cite news |title=Future of Hoover plant in doubt |last1=Pugh |first1=Chris |page=1 |work=[[The Independent]] |date=January 31, 2007 |issn=0951-9467 |oclc=185201487}}</ref>


===Financial performance===
===Financial performance===
TTI's revenue grew from US${{To USD|491|HKG}} million in 1990 to ${{To USD|6101|HKG}} million in 2001.<ref name="HongKongBusiness Feb2003">{{cite news |title=Doing it yourself |last1=Dembina |first1=Andrew |pages=12–14 |work=Hong Kong Business |date=February 2003}}</ref> From 2010 to 2019, TTI's sales rose at a compounded annual growth rate of 10 percent.<ref name="MotleyFool Sept2019">{{cite web |title=3 Highlights from Techtronic Industries Co Ltd's H1 2019 Results |last1= |first1= |url=https://www.fool.com/investing/international/2019/09/03/3-highlights-from-techtronic-industries-co-ltds-h1.aspx |publisher=[[The Motley Fool]] |date=September 3, 2019 |accessdate=March 11, 2021}}</ref> TTI was listed as a constituent stock of the benchmark [[Hang Seng Index|Hang Seng]] gauge on March 11, 2019. Companies added to the list "constitute the top 90 percentile of the total market cap of the city's stock universe".<ref name="SCMP Feb2019"/> TTI reported revenues of $9.812 billion in 2020.<ref name="TTI 2020 report"/>
TTI's revenue grew from US${{To USD|491|HKG}} million in 1990 to ${{To USD|6101|HKG}} million in 2001.<ref name="HongKongBusiness Feb2003">{{cite news |title=Doing it yourself |last1=Dembina |first1=Andrew |pages=12–14 |work=Hong Kong Business |date=February 2003}}</ref> From 2010 to 2019, TTI's sales rose at a compounded annual growth rate of 10 percent.<ref name="MotleyFool Sept2019">{{cite web |title=3 Highlights from Techtronic Industries Co Ltd's H1 2019 Results |last1= |first1= |url=https://www.fool.com/investing/international/2019/09/03/3-highlights-from-techtronic-industries-co-ltds-h1.aspx |publisher=[[The Motley Fool]] |date=September 3, 2019 |accessdate=March 11, 2021}}</ref> TTI was listed as a constituent stock of the benchmark [[Hang Seng Index|Hang Seng]] gauge on March 11, 2019. Companies added to the list "constitute the top 90 percentile of the total market cap of the city's stock universe".<ref name="SCMP Feb2019"/> TTI reported revenues of $9.812 billion in 2020.<ref name="TTI 2020 report"/>

== Technology development ==
TTI has a history of working to advance cordless power tool technology. The company was one of the first to use [[Lithium-ion_battery|lithium-ion batteries]] for cordless power tools.<ref name="Businessweek July2006"/> It began manufacturing cordless tools using lithium-ion technology for it's Milwaukee Tool brand in 2005.<ref name="Bloomberg July2006">{{cite web |title=Techtronic: "We Have The Vision To Be No. 1" |url=https://www.bloomberg.com/news/articles/2006-07-30/techtronic-we-have-the-vision-to-be-no-dot-1 |work=[[Bloomberg Businessweek]] |date=July 30, 2006 |accessdate=May 17, 2021}}</ref> The company has centers located in Hong Kong, the U.S., Germany, and the United Kingdom for the purpose of research and development, and manufacturing.<ref name="Businessweek July2006">{{cite news |title=Emerging Giants |last1=Engardio |first1=Pete |page=46 |work=[[Bloomberg Businessweek]] |date=July 31, 2006}}</ref>
TTI subsidiary Milwaukee Tool's One-Key mobile application, released in September 2015, allows users to remotely connect and program their tools.<ref name="ElectricalWholesalers Aug2013">{{cite web |title=Tool Time in Milwaukee |last1=Lucy |first1=Jim |url=https://www.ewweb.com/business-management/company-profiles/article/20920938/tool-time-in-milwaukee |work=Electrical Wholesaler |date=August 1, 2013 |accessdate=April 7, 2021}}</ref><ref name="ElectricalWholesaler Oct2015">{{cite news |title=This Month's Product Picks |last1= |first1= |page=27 |volume=10 |work=Electrical Wholesaler |date=October 1, 2015 }}</ref> In November 2019, Milwaukee Tool launched the MX FUEL Equipment System, a series of tools which traditionally used gas engines and instead are powered by a battery that is compatible with all tools in the line;<ref name="MilBiz Jan2020">{{cite web |title=Powered for growth: How Milwaukee Electric Tool plans to bring 772 more jobs to Brookfield |last1=Ryan |first1=Sean |url=https://www.bizjournals.com/milwaukee/news/2020/01/24/powered-for-growth-how-milwaukee-electric-tool.html |work=Milwaukee Business Journal |date=January 24, 2020 |accessdate=May 17, 2021}}</ref> at the time of launch, the system reportedly had the longest runtime and power of any battery system for power tools.<ref name="EquipmentWorld Nov2019">{{cite web |title=Milwaukee unveils MX Fuel lineup of cordless commercial construction tools with biggest batteries in the industry |last1=Jackson |first1=Tom |url=https://www.equipmentworld.com/equipment/article/14971778/new-milwaukee-mx-fuel-lineup-of-cordless-construction-tools |work=Equipment World |date=November 14, 2019 |accessdate=April 7, 2021}}</ref>

== Recognition ==
''Forbes'' listed TTI as "One of the World’s Best 200 Small Companies" in 2002.<ref name="Forbes Oct2002">{{cite web |title=200 Companies for 2002 |last1= |first1= |url=https://www.forbes.com/global/2002/1028/048tab.html?sh=6869121848fc |work=Forbes |date=October 28, 2002 |accessdate=April 7, 2021}}</ref> The company was among the recipients of the top consumer product design award in the 2008 and 2012 Hong Kong Awards for Industries.<ref name="TID 2008Awards">{{cite web |title=Hong Kong Awards for Industries 2008 |last1= |first1= |url=https://www.tid.gov.hk/hkindustryaward/mobile/english/winners/2008_cpd.html |work=Hong Kong Trade and Industry Department |date= |accessdate=April 7, 2021}}</ref><ref name="TID 2012Awards">{{cite web |title=Hong Kong Awards for Industries 2012 |last1= |first1= |url=https://www.tid.gov.hk/hkindustryaward/en/winners/2012.html |work=Hong Kong Trade and Industry Department |date= |accessdate=July 19, 2021}}</ref> In 2014, ''[[Euromoney]]'' magazine named TTI the “Best Managed Company in Asia in Consumer goods/retail”.<ref name="Euromoney Jan2014">{{cite web |title=Best managed companies in Asia 2014 |last1= |first1= |url=https://www.euromoney.com/article/b12kkglh47rjqj/best-managed-companies-in-asia-2014-by-sector |work=Euromoney |date=January 20, 2014 |accessdate=April 7, 2021}}</ref> The Home Depot recognized TTI as its Environmental Partner of the Year in 2020, and TTI's Milwaukee Tool as its Interconnected Partner of the Year.<ref name="BuilderOnline Oct2020">{{cite web |title=Home Depot announces 2020 Innovation Award winners |last1=Salmonsen |first1=Mary |url=https://www.builderonline.com/products/home-depot-announces-2020-innovation-award-winners_o |work=Builder Online |date=October 12, 2020 |accessdate=April 7, 2021}}</ref>


==References==
==References==

Revision as of 16:24, 21 July 2021

Techtronic Industries Company Limited
創科實業有限公司
Company typePublic
SEHK: 669
IndustryManufacturing company (power tools and electronic equipment)
Founded24 May 1985; 39 years ago (1985-05-24)
FoundersHorst Julius Pudwill[1]
Roy Chung Chi Ping
Headquarters
Hong Kong
Area served
Worldwide
Key people
Horst Julius Pudwill (Chairman)
Stephan Horst Pudwill (Vice Chairman)
Joseph Galli (CEO)
RevenueUS$9.8 billion (2020)[2]
Number of employees
48,028[2]
SubsidiariesMilwaukee Electric Tool Company
TTI Power Equipment
TTI Floor Care
Vax ltd.
Websitewww.ttigroup.com

Techtronic Industries Company Limited (TTI Group or TTI) (SEHK: 669) designs, produces, and markets power tools, outdoor power equipment, hand tools, and floor care appliances under a variety of wholly owned and licensed brands. The company's products are used by consumers, professionals, and industrial users in the home, construction, maintenance, industrial and infrastructure industries.[3] TTI was the first company to produce heavy-duty cordless power tools powered by lithium-ion rechargeable batteries.[4] Its expertise in brushless motors, advanced system electronics and firmware has contributed to the company's performance.[5]

The company was founded by Horst Julius Pudwill and Roy Chi Ping Chung GBS BBS JP in 1985.[6] TTI's brand portfolio includes Milwaukee Tools, AEG, Ryobi, Homelite, Empire, Stiletto, Hoover US, Hart, Oreck, Vax, and Dirt Devil. It has a worldwide customer reach, and staff of more than 48,000. TTI has manufacturing bases and facilities in China, Vietnam, the U.S., Mexico and Europe. In 2020, TTI's annual sales were more than US$9.8 billion.[2] TTI has been listed on the Hong Kong Stock Exchange since 1990 and was listed as one of the Hang Seng Index constituent stocks in 2019.[7]

History

TTI was founded in 1985 in Hong Kong by Horst Julius Pudwill and Roy Chi Ping Chung.[8] TTI began as an original equipment manufacturer for overseas brands.[9] Sears partnered with TTI in 1987 to produce Craftsman-branded cordless power tools.[10] TTI entered the floor care industry when it began producing cordless handheld vacuum cleaners for the Bissell brand.[11] In 1990, TTI listed its shares on the Hong Kong Stock Exchange under the stock code 0669 by way of an initial public offering.[7][12] TTI trades under the ticker TTNDY in the American stock market.[13]

TTI developed a global brand portfolio by acquiring labels such as Milwaukee Tools, Hoover, Dirt Devil and buying brand licenses of Ryobi Power Tools and Ryobi Outdoor Power Equipment and AEG Power Tools, expanding product categories and adding distribution channels to grow its geographical footprint.[5][13]

Brands and products

TTI produces power tools, accessories and hand tools, outdoor power equipment, layout and measuring products as well as floor care and cleaning products. Products are distributed through the company's brands, which include:

Financial performance

TTI's revenue grew from US$63.19 million in 1990 to $785.2 million in 2001.[12] From 2010 to 2019, TTI's sales rose at a compounded annual growth rate of 10 percent.[21] TTI was listed as a constituent stock of the benchmark Hang Seng gauge on March 11, 2019. Companies added to the list "constitute the top 90 percentile of the total market cap of the city's stock universe".[7] TTI reported revenues of $9.812 billion in 2020.[2]

Technology development

TTI has a history of working to advance cordless power tool technology. The company was one of the first to use lithium-ion batteries for cordless power tools.[22] It began manufacturing cordless tools using lithium-ion technology for it's Milwaukee Tool brand in 2005.[4] The company has centers located in Hong Kong, the U.S., Germany, and the United Kingdom for the purpose of research and development, and manufacturing.[22] TTI subsidiary Milwaukee Tool's One-Key mobile application, released in September 2015, allows users to remotely connect and program their tools.[23][24] In November 2019, Milwaukee Tool launched the MX FUEL Equipment System, a series of tools which traditionally used gas engines and instead are powered by a battery that is compatible with all tools in the line;[25] at the time of launch, the system reportedly had the longest runtime and power of any battery system for power tools.[26]

Recognition

Forbes listed TTI as "One of the World’s Best 200 Small Companies" in 2002.[27] The company was among the recipients of the top consumer product design award in the 2008 and 2012 Hong Kong Awards for Industries.[28][29] In 2014, Euromoney magazine named TTI the “Best Managed Company in Asia in Consumer goods/retail”.[30] The Home Depot recognized TTI as its Environmental Partner of the Year in 2020, and TTI's Milwaukee Tool as its Interconnected Partner of the Year.[31]

References

  1. ^ "Horst Julius Pudwill". Forbes. ISSN 0015-6914. Retrieved 2018-10-29.
  2. ^ a b c d "2020 Annual Report" (PDF). Techtronic Industries. Retrieved March 10, 2021.
  3. ^ "Techtronic Industries Co Ltd". Bloomberg News. Bloomberg L.P. Retrieved March 10, 2021.
  4. ^ a b "Emerging Giants". Bloomberg News. July 30, 2006. Retrieved March 10, 2021. Cite error: The named reference "Bloomberg July2006" was defined multiple times with different content (see the help page).
  5. ^ a b Cremer, John (August 18, 2018). "Laser focus drives gains". South China Morning Post. p. 3. OCLC 648902513.
  6. ^ Hollingsworth, Julia (December 1, 2016). "Techtronic: from small-time tool maker to powerful global leader". South China Morning Post. Retrieved March 10, 2021.
  7. ^ a b c Yiu, Enoch (February 22, 2019). "Benchmark compiler Hang Seng Indexes adds tool maker Techtronic to gauge, ejects China Resources Power". South China Morning Post. Retrieved March 10, 2021.
  8. ^ Kahn, Gabriel (December 26, 2003). "After Years Behind the Scenes, Chinese Join the Name Game". The Wall Street Journal. ISSN 0099-9660. OCLC 781541372. Retrieved March 10, 2021.
  9. ^ Oliver, Rachel (June 25, 2004). "People come first in pursuit of excellence". South China Morning Post. p. 1.
  10. ^ "Corporate Milestones" (PDF). HKEX News. Retrieved March 10, 2021.
  11. ^ Anne, Crawford (June 19, 1992). "Pudwill has plans for NovAtel". Calgary Herald. Postmedia Network. p. E3. ISSN 1197-2823. OCLC 29533985.
  12. ^ a b Dembina, Andrew (February 2003). "Doing it yourself". Hong Kong Business. pp. 12–14.
  13. ^ a b c d "Techtronic Industries Co Ltd". Reuters. Retrieved March 10, 2021.
  14. ^ a b Pretzlaff, Harry (August 31, 2004). "Chinesen auf Einkaufstour; Techtronic übernimmt AEG Elektrowerkzeuge" [Chinese on a shopping spree; Techtronic takes over AEG power tools]. Stuttgarter Zeitung (in German).
  15. ^ Luk, Lewis (December 6, 2013). "Case Studies on IP Trading among SMEs in Asia" (PDF). Hong Kong Institute of Patent Attorneys. Retrieved March 11, 2021.
  16. ^ LHeureux, Dave (December 19, 2001). "Deere & Co. to Close Consumer Products Facility in Pontiac, S.C.". The State. Columbia, South Carolina: McClatchy. ISSN 0038-9994.
  17. ^ a b Taschler, Joe; Daykin, Tom (January 27, 2020). "Milwaukee Tool planning $26 million plant in West Bend; 100 new jobs planned by 2025". Milwaukee Journal Sentinel. Gannett. ISSN 1082-8850. OCLC 55506548. Retrieved March 11, 2021.
  18. ^ Fratzel, Todd (November 20, 2019). "Hart Tools Launches New Line of Tools at Walmart". Tool Box Buzz. Retrieved July 20, 2021.
  19. ^ a b Antosiewicz, Frank (August 4, 2014). "Buyer plans to sell former Hoover plants". Plastics News. Vol. 26. Crain Communications. p. 3.
  20. ^ a b Pugh, Chris (January 31, 2007). "Future of Hoover plant in doubt". The Independent. p. 1. ISSN 0951-9467. OCLC 185201487.
  21. ^ "3 Highlights from Techtronic Industries Co Ltd's H1 2019 Results". The Motley Fool. September 3, 2019. Retrieved March 11, 2021.
  22. ^ a b Engardio, Pete (July 31, 2006). "Emerging Giants". Bloomberg Businessweek. p. 46.
  23. ^ Lucy, Jim (August 1, 2013). "Tool Time in Milwaukee". Electrical Wholesaler. Retrieved April 7, 2021.
  24. ^ "This Month's Product Picks". Electrical Wholesaler. Vol. 10. October 1, 2015. p. 27.
  25. ^ Ryan, Sean (January 24, 2020). "Powered for growth: How Milwaukee Electric Tool plans to bring 772 more jobs to Brookfield". Milwaukee Business Journal. Retrieved May 17, 2021.
  26. ^ Jackson, Tom (November 14, 2019). "Milwaukee unveils MX Fuel lineup of cordless commercial construction tools with biggest batteries in the industry". Equipment World. Retrieved April 7, 2021.
  27. ^ "200 Companies for 2002". Forbes. October 28, 2002. Retrieved April 7, 2021.
  28. ^ "Hong Kong Awards for Industries 2008". Hong Kong Trade and Industry Department. Retrieved April 7, 2021.
  29. ^ "Hong Kong Awards for Industries 2012". Hong Kong Trade and Industry Department. Retrieved July 19, 2021.
  30. ^ "Best managed companies in Asia 2014". Euromoney. January 20, 2014. Retrieved April 7, 2021.
  31. ^ Salmonsen, Mary (October 12, 2020). "Home Depot announces 2020 Innovation Award winners". Builder Online. Retrieved April 7, 2021.
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