US cutting tool consumption drops in November
Cutting tool consumption in the US reached $168.69 million in November 2016. Representing a slight decline of 0.2% from October’s £168.99 million, the total was up 9.3% on November 2015. The year-to-date total hit $1.867 billion, representing a 5.7% fall compared with 2015. The statistics were put together by the US Cutting Tools Institute (USCTI) […]
KKR to buy Hitachi Power Tools & accelerate global growth
Global investment firm KKR, via HK Holdings Co, is to acquire Hitachi Power Tools division, Hitachi Koki. The announcement confirmed rumours reported earlier this month and will see KKR purchase the firm with a view to support Hitachi Power Tools’ growth strategy. The Company is actively pursuing expansion in global markets, and acquired German power tool company […]
Sykes-Pickavant updates its best-selling pro torque wrench
Sykes-Pickavant has updated its best-selling torque wrench for 2017 with a larger scale and improved ergonomics. The Motorq Push-Thru Professional Torque Wrenches have a 60% larger scale for improved accurate setting and better visibility. The firm said that there’s a superior, ergonomic handle and shape, so the wrench has a soft feel, high grip material and […]
Stanley Black & Decker grows US manufacturing footprint with tool brand acquisition
Stanley Black & Decker has made another tool acquisition with the purchase of the Craftsman brand from Sears Holdings. The buy out follows a tool brand acquisition in October – $1.95 billion for Irwin and Lenox Tools – and the sale of the majority of SBD’s Mechanical Security businesses last month, arguably indicating a focusing of […]
New categories and swanky new venue announced for Hire Awards 2017
The Hire Awards of Excellence, celebrating the best in the plant, tool, hire and event industry, has grown with two additional categories for 2017 and a new venue to host the growing number of guests. As nominations open for this year’s Awards, organiser Hire Association Europe Event Hire Association (HAE EHA) has revealed they will be […]
Hitachi power tools division up for sale, says reports
Hitachi Koki, the power tool division of Hitachi, is reportedly up for sale, according to Reuters. Private equity firm KKR & Co is in talks to buy the unit in a deal that is said to be worth over $1.3 billion. An anonymous insider gave Reuters the scoop. Hitachi Koki responded to the story over […]
Makita is celebrating 45 years in the UK in 2017
Hot on the heels of opening a new training and service site in Scotland, Makita is celebrating its 45th anniversary of the establishment of its UK sales, training and distribution centre. In a period that has seen the sector transition from 100% mains to 60/40 in favour of cordless, Makita said it has had an unbroken […]
Power tools market grows to 10 million units in Benelux
The Benelux power tools market has seen growth this year, with around 10 million units expected to be shipping when the year is out, up from 9.8 million in 2015, according to a report from Future Market Insights. In 2015, the Benelux power tools market was valued at US$826.4 million and is expected to hit […]
Torque Magazine 2017 features calendar is now live
Gearing up for 2017 and planning your activities for the next 12 months? Help is at hand with the Torque Magazine 2017 features calendar. As you’d expect, we’ve got features covering the fastener, tool and related industries throughout the year. Torque Magazine will be published 10 times in 2017, with 5 print magazines and 5 […]
Next year’s Hardware Show Ireland is on track to be record breaker
Hardware Association Ireland (HAI) has revealed that The Hardware Show 2017 is now the biggest show in the Association’s history, with three months still to go. Over 3,300sqm of space has been sold in RDS Simmonscourt for the event, which will run 5-6 March 2017. It far exceeds the 2015 Show in size in Citywest, HAI confirmed. […]