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, USA Today reported.
“It’s going to be advisable to have more manufacturing in the U.S.,” Loree added.
“We believe this is an excellent opportunity to re-Americanize and revitalize this legendary brand,” he concluded.
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.
Stanley Black & Decker is not alone in a sudden interest in re-investing in the U.S. since the election of Donald J. Trump.
Only days ago at the start of the new year, Ford Motors announced it was canceling plans to build new manufacturing facilities in Mexico and will instead re-invest in America.
But Ford is only the latest. A whole list of companies have already promised to bring investment and jobs to America since Trump’s election.
Immediately after Trump’s big November win, such companies as Carrier, SoftBank, U.S. Steel, and IBM all announced major additions to the U.S. job market.
Read more at [Breitbart News]Click here for reuse options!
Copyright 2017 Daily Headlines