Rockford, IL— Greenlee® / A Textron Company (NYSE: TXT) announced the acquisition from its joint venture partners of the remaining interest in Endura-Greenlee Tools (Shanghai) Co., Ltd., a professional hand tools manufacturer for residential, construction, industrial, and automotive channels.
Greenlee established the Endura-Greenlee Tools joint venture in 2010 to expand Greenlee’s presence in China through application of innovative technologies and leveraging the distribution network. Endura-Greenlee Tools has a strong international sales network and advanced expertise in the Chinese markets. Endura specializes in designing, manufacturing, and marketing high-quality hand tools for global professional trades and industrial and construction markets. Since its inception in 1998, Endura has been considered one of the top professional tool brands in China, with over 3,000 products in more than 30 different categories. Endura also has over 1,000 resellers in China, and exports to ten countries.
Integration of the Chinese operations of Textron’s Klauke tool business and Endura-Greenlee Tools into a single team allows for application of collective resources to broaden customer support and accelerate product engineering. According to Scott Hall, President of Textron’s Industrial Segment, “This strategic acquisition is a unique opportunity to provide greater value to our customers in the Chinese markets with Textron’s extended resources. We are confident that the Endura brand will deliver a more comprehensive solution to our international customers and optimize our growth in an evolving competitive market.” Endura’s diverse product line along with their experienced leadership in the Chinese markets will cohesively work with Textron’s operational expertise to drive future growth and expansion.
Greenlee Textron Inc.
Greenlee Textron Inc. is known as a global leader in the professional tool category. The Rockford, Illinois- based company develops high quality innovative products distinguished by customer-driven design and differentiated by supply chain excellence. It also leverages its powerful brands such as Greenlee Communications and Greenlee Utility in the electrical, construction and maintenance markets worldwide. More information is available at www.greenlee.com.
Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense industry, and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. For more information visit: www.textron.com.
Certain statements in this press release may project revenues or describe strategies, goals, outlook or other non-historical matters; these forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements.
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