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Techtronic Industries TTI history
Techtronic Industries TTI company history timeline
Techtronic Industries (TTI) was established in 1985 with an investment of USD 20,000, inspired by the name of ITT, Roy Chi Ping Chung named this company TTI. Horst Pudwill and Roy Chi Ping Chung were in charge of selling and operation management, respectively.
Techtronic Industries (TTI) was founded in 1985 by Mr.
By 1986, the company had secured its first major client, Sears, which commissioned the company to begin production of a new line of Craftsman-branded cordless power tools.
Sales of these products were launched by 1987.
1988 saw a turning point when Ryobi from Japan came to China to look for OEM of power equipment.
In 1988, Techtronic's new facility opened in Dongguan.
To prepare for stronger growth in the 1990s, Techtronic went public in 1990, listing on the Hong Kong Stock Exchange.
By 1992, Gimelli had become profitable.
By 1994, Techtronic's sales had topped HKD 1 billion.
Pudwill met Mike Merriman at an expo in 1995 when facing to market competition, Royal had to reduce the price of its main product-upright vacuum from USD149 to less than USD100.
Floor care took on still greater weight with the company following the launch of the Superbroom in 1996.
HD Supply profile and corporate video HD Supply was formed in 1997 as the professional services division of Home Depot.
By the end of 1997, the Superbroom had helped propel the group's sales past HKD 2.36 billion.
Also in 1998, the company launched a new type of cutter, featuring a revolving blade magazine.
In 1998, the company expanded its production capacity again, opening a new production facility in Indonesia.
The growing success of the company's power tools and floor care appliances led Techtronic to refocus around these operations in 1998.
In 1999, the VAX brand and Floorcare business were acquired.
In 1999, the company introduced an ambitious new strategy—that of re-creating itself as a brand-name producer.
"Techtronic Gears Up on Ryobi," South China Morning Post , June 2, 2000.
In November 2001, the company acquired John Deere's Homelite brand of garden and lawn care tools and equipment, paying $24 million.
In 2002, the HOMELITE brand and business for Outdoor Power Equipment were acquired.
The joint venture, which launched production in October 2003, also helped strengthen Techtronic's relationship with Home Depot, which became the major retail distributor of the RIDGID line.
In 2003, the ROYAL and DIRT DEVIL Floorcare brands and businesses were acquired.
"HJ Techtronic to Buy Swedish Power Tools Company," Australasian Business Intelligence , October 12, 2004.
Roy Chi Ping Chung was granted the title of Justice of the Peace in 2005 due to his great contribution to industrial development.
At the beginning of 2005, Techtronic's latest acquisition placed it among the world leaders in the power tools segment.
Profit increased from USD200 million in 2012 to USD400 million.
In 2013, the ORECK brand and Floorcare business were acquired.
In 2014, the EMPIRE Level, Layout and Measuring Tools brand and business were acquired.
I’ll make detailed analysis after the official release of 2017 annual report.
In 2018, the Imperial Blades was acquired.
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Techtronic Industries TTI competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Link-Belt Cranes | 1874 | $230.0M | 750 | 14 |
| Terex | 1986 | $5.1B | 10,700 | 167 |
| JLG Industries | 1969 | $2.1B | 4,993 | 2 |
| Milwaukee Tool | 1924 | $729.3M | 5,500 | 368 |
| Hoover | 1907 | $750.0M | 14 | 4 |
| Fortive | 2016 | $6.2B | 17,000 | 306 |
| Gentex | 1974 | $2.3B | 5,874 | 43 |
| Eaton | 1911 | $24.9B | 92,000 | 2,023 |
| Dover | 1955 | $7.7B | 23,000 | 397 |
| Parker Hannifin | 1917 | $19.9B | 57,170 | 694 |
Techtronic Industries TTI history FAQs
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Techtronic Industries TTI may also be known as or be related to Techtronic Industries, Techtronic Industries - TTI, Techtronic Industries Co Ltd, Techtronic Industries Co. Ltd and Techtronic Industries TTI.