This AP news article indicates that Techtronic Industries, Co., Ltd. — the Hong Kong-based company that currently owns Milwaukee, RIDGID, and a number of other popular tool brands — will likely purchase Hoover from Whirlpool, who acquired Hoover as part of its recent Maytag purchase. Looks like TTI’s moving into the home appliance arena as well.
Hong Kong Firm to Buy Hoover Vacuums for $107M [The Eagle Tribune]
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Do you all recall that Joe Galli (ex- President of Black & Decker/Dewalt & ex – CEO of Rubbermaid) just made the switch to TTI to run the Appliance Division!
I think Joe will be President of the Power Tool group in the next 2 years and you will see TTI making a run at DeWalt’s control of the Power Tool market in North America. TTI has positioned itself nicely with the purchase of Milwaukee Tools, the licensing agreement with Ridgid and Ryobi’s price points in HD.
Does anyone agree?
Ohiohead