While liberals fret, President Trump keeps the winning momentum going! Yet another big business is going to ramp up here in America. Not sure what the left has a problem with. Is it bad for big business to suddenly want to come home…or are they now realizing how bad Obama failed?
Stanley Black & Decker, one of the U.S.A.’s most well known hand and power tool manufacturers, has unveiled plans to move some manufacturing back to the U.S. after the election of Donald J. Trump to the White House.
In remarks to investors during a Thursday conference call, Stanley Black & Decker CEO James Loree said it just makes “business sense” to move manufacturing back to the U.S., especially given the uncertainty of trade relations with China and Mexico.
“It’s going to be advisable to have more manufacturing in the U.S. We believe this is an excellent opportunity to re-Americanize and revitalize this legendary brand”
Stanley Black & Decker has been slowly increasing jobs in the U.S. for the past several years. Its current level of some 3,000 workers is already up 800 from 2013. It is not yet known how many more jobs the company will be bringing to the U.S. as a result of its latest announcement.
The remarks come after the company announced the impending purchase of the Sears Craftsman tool line for about $900 million after Sears suffered another round of setbacks which will include the closing of at least 150 more stores.
The move came several months after Sears put the Craftsman, Kenmore and DieHard brands up for sale as it seeks an elusive turnaround. Including the closing of 108 Kmart and 42 Sears stores, the company said the moves are “a difficult but necessary step as we take actions to strengthen the company’s operations and fund its transformation.”
Stanley Black & Decker has about 3,000 U.S. manufacturing jobs today, up 800 from three years ago, according to the toolmaker. It was not immediately clear how many jobs the company plans to add.
Loree said the location of the new manufacturing plant to produce Craftsman products has not yet been determined. The company currently operates 29 total U.S. plants.
Stanley Black & Decker shares rose 3.5% to $120.54 shortly after the opening bell Thursday.