Stanley Black & Decker Inc. reportedly will build a new manufacturing plant in the U.S., a $35-million capital investment, in a bid to support the “Buy American” industrial and trade policies advocated by President-elect Donald J. Trump. Details of the new plant development — such its location, schedule for development, and the products to be manufactured there — are unknown.
It’s also unclear whether the stated value of the investment represents a total cost, or an initial development cost.
The news of the capital investment was referenced but not elaborated in the announcement that the Connecticut-based manufacturer of industrial tools, household hardware, security products, and locks, has agreed to buy Sears Holdings’ Craftsman brand in a complex deal valued at up to $900 million.
"We intend to invest in the brand and rapidly increase sales through these new channels, including retail, industrial, mobile, and online,” Stanley Black & Decker CEO James Loree stated. “To accommodate the future growth of Craftsman, we intend to expand our manufacturing footprint in the U.S. This will add jobs in the U.S., where we have increased our manufacturing headcount by 40% in the past three years.
Craftsman is a line of hand tools, power tools, and lawn and garden equipment produced for Sears by a number of manufacturers, some domestic operations as well as some offshore suppliers.