Stanley Black & Decker to open U.S. plant after Trump’s ‘border tax’ threat

maga

From USA Today: Stanley Black & Decker said Thursday that it would open a new $35 million manufacturing plant in the U.S. after acquiring the Craftsman tool brand from ailing retailer Sears Holdings.

Expanding American manufacturing makes “business sense” amid “pervasive” uncertainty regarding the future of U.S. trade with China and Mexico, Stanley Black & Decker CEO James Loree told investors Thursday in a conference call.

Although he did not mention Donald Trump by name in his remarks to investors, Loree’s comments had all the hallmarks of an effort to inoculate his company from the possible effects of the president-elect’s threatened “border tax.”

“We view it sort of as one of several political movements, or concepts, that really drive us to this concept of make-where-we-sell,” Loree said. “It’s going to be advisable to have more manufacturing in the U.S.”

Stanley Black & Decker has about 3,000 U.S. manufacturing jobs today, up 800 from three years ago, according to a company presentation. 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.

About a half century ago, the Craftsman brand was primarily made in America. Today it’s largely made overseas, Loree said. “We believe this is an excellent opportunity to re-Americanize and revitalize this legendary brand,” he told investors.

In addition to the threat of trade policies that could damage imports, manufacturing products in the U.S. to sell to American consumers reduces logistics and distribution costs and lowers the company’s environmental footprint, Loree said. “It makes good business sense for us,” he said.

Stanley Black & Decker paid about $900 million to acquire Craftsman from Sears, which is closing stores and selling assets in a bid to stay afloat following a series of steep losses. About 90% of Craftsman products are sold in Sears stores, but Stanley Black & Decker plans to expand production and sales to other retailers and business channels.

Stanley Black & Decker shares rose 3.5% to $120.54 shortly after the opening bell Thursday.

DCG

Advertisements

16 responses to “Stanley Black & Decker to open U.S. plant after Trump’s ‘border tax’ threat

  1. Trump’s MAGA even before he’s inaugurated. Think what he’ll do after!

    Liked by 1 person

  2. Just shows to go ya how irrelevant the outgoing administration is/has been.

    Liked by 1 person

  3. As long as the disease of progressivism inhabits our country, our businesses and manufacturers will be under threat. Think of the $15 minimum wage being pushed at every opportunity they get. Blue states, like California, are terminally ill and ensure the survival of communism in our country. It is imperative that the left’s stranglehold is wiped out to ensure the survival of democracy.

    Liked by 1 person

  4. Go Craftsman!
    This used to be a really great Made in U.S.A. brand with the best tools and warranty.

    I have Craftsman tools I inherited and also I bought and owned for decades.

    It would be great to get China out of my toolbox among other places.

    Trump has to navigate through the scumbags and assassins lining up against him.

    Liked by 1 person

    • He’s been running and hopping over the scumbags and assassins like they’re the backs of the alligators in the Swamp he’s about to drain!

      Like

  5. Pingback: Stanley Black & Decker to open U.S. plant after Trump’s ‘border tax’ threat — Fellowship of the Minds | kommonsentsjane

  6. More good news. Thanks, DCG.
    I’ve used Craftsman tools since literally childhood.

    Liked by 1 person

  7. This is a major win/win for our country. Go Trump!

    Liked by 1 person

  8. Wonderful, may many more come. Craftsman used to be the cream de la cream of tools.
    Now, if he can just bring home all the customer service workers, so I can finally understand what is being said.
    I have been in AT&T hell for over three months trying to get a phone, that we have never, had off the bill, but we keep getting bills for, along with threats.
    I have spent over 1000 minutes on the phone and sent letters trying to get this resolved, only to wonder, after I hung up, did they really try and correct the problem.
    If he can do this, I will be eternally grateful.

    Liked by 1 person

  9. No wonder the NWO hates Trump…he wants to help US manufacturing, which is the LIFE BLOOD of the economy, not the ‘service industry’ as some paid off (most likely) economist blathered about in the mainstream newspapers a decade ago.
    Maybe we’ll all start to get out of the depression Obama had accelerated for those awful 8 years of total Hell.

    Like

  10. The departure of the Obama administration is going to leave some gaping voids, and I’d like to apply for the positions:

    Department of “Totally unbelievable Bullsh*t”
    Secretary of :”Unconfirmed reports from within the administration”

    Liked by 1 person

  11. I’m all for bringing back industries we lost to the greedy bastard company owners, ceo’s and share holders who were in collusion with corrupt legislators in 1993 when CAFTA was finally passed under Clinton. And the share holders wanting this were not the hardworking individuals who steadily invested any extra money they could save to buy a few shares with, they were the legislators and their “buddies” who benefited hugely as they typically had the funds to invest large amounts of money. The idea behind this started with Reagan under a different name. They “knew” passing CAFTA would see the majority of industries leave and they had no plan on how to replace the jobs lost and what to with the displaced working population. They just didn’t care and we’ve had high unemployment for most of the time since.
    We all know some industries use toxic materials and produce toxic waste we don’t want in the soil, air and water. Surely, technologies have advanced enough to eliminate most of this. China produces most of the world’s goods and their environment is toxic because they don’t care about the health of their citizens (the US govt. doesn’t either for that matter). All the US has done over the last 23 yrs. is contribute to horrible pollution in 2nd and 3rd world countries and grossly lowered the standard of living in the US for most citizens. China is not included because they have had the money and technologies to clean their environment and set standards for manufacturing and have chosen not to do so. Our legislators trade the well-being and futures of the American worker for a bigger bottom line by exploiting the cheap labor of other countries, including using child labor. It’s hard for me to forgive them for what they’ve done to our country and are continuing to try to do, as evidenced by the evil behind their intent toward Mr. Trump………..Thank you for allowing me to rant.

    Liked by 1 person

    • “All the US has done over the last 23 yrs. is contribute to horrible pollution in 2nd and 3rd world countries and grossly lowered the standard of living in the US for most citizens.”

      Ditto and well said!

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s