SBD plans to grow India operations three-fold in 5 years
On June 2nd ,Announcing the launch of its Stanley brand of power tools in the country, tools and storage provider Stanley Black & Decker (SBD) said it plans to grow India operations by three times in the next five years.
With this launch, Stanley Black & Decker has one of the widest portfolio of tools, storage and solutions — power tools, hand tools, tool accessories, anchors, fasteners — to meet construction, fabrication and repair needs, it said.
The company plans to fortify its presence in India and grow the business three times more in the next five years, it said in a release.
"SBD India has seen an encouraging growth rate. With this launch, we now become a complete solutions provider. We occupy the #2 position in tools and storage in India," President and Chief Operating Officer James M Loree said.
The next five years are going to be critical and will set the pace for the company as we plan on developing India as an export hub, increase localisation to 50 per cent and also double the headcount," he added.
Currently, the power tools portfolio of Stanley Black & Decker caters to the needs of large enterprises and professional users in the construction, metal fabrication and manufacturing sectors, the company said adding that with the new launch, it plans to expand its presence to SMEs and tradesmen segment.
The new Stanley power tools range includes tools for metal working, concrete working, wood working and cordless tools like angle grinders, chopsaws, rotary hammers, demolition hammers, tile cutters, planers, heat guns and blowers.
Going forward, the company is planning to manufacture these products locally in the country, the release said.
The company has 35 manufacturing units globally including a plant in Chakan in Pune (Maharashtra).
