Just heard that Black&Decker bought out PorterCable.
Wonder if that means they’ll bring back the Bammer. heh heh
WILMA!!!
JANE! STOP THIS CRAZY THING!!!
“sobriety is the root cause of dementia.”, rez,2004
“Geodesics have an infinite proliferation of possible branches, at the whim of subatomic indeterminism.”,
Jack Williamson, The Legion of Time
Replies
Where did you "hear" this?
A news.google search did not show anything.
sounds like URDAN LEGEND (or more like TOOL COUNTER LEGEND).
Overheard it on CNBC Stock reports about 10 minutes back.
Why, does that mean you are going to get in or get out? Roar!
"sobriety is the root cause of dementia.", rez,2004
"Geodesics have an infinite proliferation of possible branches, at the whim of subatomic indeterminism.",Jack Williamson, The Legion of Time
Edited 7/19/2004 10:44 am ET by rez
They paid $775 million for Delta, Porter-Cable, etc. Now I wonder who is going to buy Milwaukee, as they are on the block for sale, as well!!!
B&D buys Miwaukee. I can just hear IMERC now..."sobriety is the root cause of dementia.", rez,2004
"Geodesics have an infinite proliferation of possible branches, at the whim of subatomic indeterminism.",Jack Williamson, The Legion of Time
I use "bought" in the orginal search. It looks like the stories used "buy".
Reran is with Black and Decker Porter Cable and got 4 stories.
Here is from PRNEWS wire.
"The Corporation also announced that it has signed an agreement to purchase
the Tools Group from Pentair, Inc. (NYSE: PNR) for approximately $775 million
in cash. The Tools Group, with 2003 sales of $1.08 billion and operating
profit of $82 million, includes the Porter-Cable, Delta, DeVilbiss Air Power,
Oldham Saw, and FLEX businesses. The transaction, which is subject to
regulatory clearances and customary closing conditions, is expected to close
later in 2004.
Nolan D. Archibald, Chairman and Chief Executive Officer, commented, "We
are very pleased to announce both record results and an ideal bolt-on
acquisition with excellent strategic and financial benefits. The businesses
we will acquire from Pentair focus on the large and profitable professional
power tool market in North America and are an excellent fit with our DEWALT
division. This acquisition will add well-respected brands to our portfolio
and expand our offerings in product lines where we have relatively low market
share, including woodworking equipment, compressors, pressure washers, and
nailers. In addition, it will give us a stronger presence throughout our
distribution network, particularly in the industrial/construction channel."
What is FLEX have not heard of them?
And a Pentair new release indicates that they are concentrating on their water supply and enclousre division.s
http://www.flex-tools.de
This came up back in Feb/March when Pentair annouced they were going to dump those units - it was posted here, but no-one took any interest..
Phill Giles
The Unionville Woodwright
Unionville, Ontario
How long do you think it will take until we can talk about how the quality of the PC nail guns has gone down hill. I don't see this as a good thing. Will Delta's quality someday rival Grizzly's?
I think PC guns already are down the hill...
Jon Blakemore
PC nail guns are already made in Taiwan.
what they don't tell you is that the parent company is gonna change the names on ALL the tools to Fischer Price!
Mr T
Happiness is a cold wet nose
Life is is never to busy to stop and pet the Doggies!!
or McHalliburtin.
Ugh. Now, if PC had bought Big Red (or vice versa), that might be different.
Maybe it's a color thing; they had the red b&d, and the yellow b&d; so they decided a nice gray was just the ticket for the logos?Occupational hazard of my occupation not being around (sorry Bubba)
This may be redundant, but this just hit the wires:
"Archibald, the Black & Decker CEO, said the acquisition of Pentair's toolsunit would expand the company's share of the woodworking and nailer markets. Inanother example of complementary product lines, Pentair's Porter-Cable unithas a relatively low market share in cordless tools, while Black & Decker'sDeWalt unit is strong in that market, Archibald said. Archibald said Black & Decker expects to realize $65 million in annual costsavings by the end of 2007 with the acquisition. He said it's too early to sayhow the company will achieve that. Charles Brown, president and chief operating officer of Pentair's tools unit,has agreed to continue to head the unit until at least July 2005. Archibaldsaid he hopes Brown will stay with Black & Decker after that. The $775 million price tag for Pentair's tools unit is roughly equivalent toabout two years' worth of cash flow for Black & Decker. That means the companyis unlikely to make an acquisition of a similar size in the next two years,Archibald said, but it will consider smaller deals. Black & Decker attributed its improved second-quarter results to "excellentretail support for our leading brands," Chief Financial Officer Michael Mangansaid. Results were also helped by the improved economy, and by "easy"comparisons to the year-earlier period, he said. Archibald said the second quarter started out "very strong," but the companyfaced a slowdown in product orders at the end of the quarter. Still, orders "picked up" at the beginning of the current quarter, Archibaldsaid, "and we think things are going pretty well right now." Black & Decker's NYSE-listed shares were recently up $6.80, or 11.3%, to$67.12, on volume of 4 million, above the daily average of 774,500. Shares onMonday hit a 52-week high of $69.50, topping the $62.25 set on June 30. Pentair's NYSE-listed shares were recently down 15 cents, or 0.5%, to $32.65,on volume of 494,600 shares, compared with average daily volume of 624,193.
Don't ferget baby shid green...
Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming.... WOW!!! What a Ride!
So what are they going to call themselves?
Blackened Porter cable wrecker?
Not bad, not bad at all.
Hey, Porter! Hey Porter! What time did you say?How much longer will it be 'Till I can see the light of day?"sobriety is the root cause of dementia.", rez,2004
"Geodesics have an infinite proliferation of possible branches, at the whim of subatomic indeterminism.",Jack Williamson, The Legion of Time
In related news, Lee Iacocca has bought out the Pepsi corporation.
He's going to change the Pepsi name to the "Iacocca Cola".
And all this time I thought PorterCable was a communications corp."sobriety is the root cause of dementia.", rez,2004
"Geodesics have an infinite proliferation of possible branches, at the whim of subatomic indeterminism.",Jack Williamson, The Legion of Time
Funny thing about Iacocca, Ron . . . . after all those years with ford, when he made the switch to Chrysler, someone figured out that his last name stood for
I
A m
C hairman
O f
C hrysler
C orporation of
A merica
Get it ? I A C O C C A. Who'd a thunk it ?
Greg
Well, that just sux.
Nothing good can come from this.
B&D makes miserable products, IMHO. Quality is not a corporate value of theirs.
This can only be a good thing in my opinion. The only P.C. tool I've ever had in my hand that wasn't a complete piece of crap was their router. Actually they make a couple of decent routers. everything else they make pretty much makes craftsman look good. I especially like those boat anchors... I mean belt sanders.
I heard FedEx merged with UPS....
The new name is "FedUp"
;-)
In related news, Honeywell Computers bought Fairchild Electronics.
After the merger, they will be known as Fairwell Honeychild.
Bwaaaa!:o)"sobriety is the root cause of dementia.", rez,2004
"Geodesics have an infinite proliferation of possible branches, at the whim of subatomic indeterminism.",Jack Williamson, The Legion of Time
Yes, and ABC/Disney is buying the brokerage firm EF Hutton, General Instruments, Johnson & Johnson, and the airlines KLM and Northwest Orient.
The new company will be known as ABCDEFHGIJJKLMNO.
They are researching future acquisitions, focusing primarily on names beginning with P through Z. ;-)
-- J.S.
Pretty funny stuff Girls.
you think they might be building in Pittzburg?"sobriety is the root cause of dementia.", rez,2004
"Geodesics have an infinite proliferation of possible branches, at the whim of subatomic indeterminism.",Jack Williamson, The Legion of Time
This news comes as quite a shock to me as I refuse to buy B&D tools. Now my tool buying options have become that much more limited.
As I read the past posts, two things came to mind.
1. what is up with the recent mass buyouts of tool companies. I noticed last year that B&D went on a buying spree and that this year Irwin has been buying names too. It seems that soon we will be able to choose between 2 or 3 tool companies.
2. who cares where tools are made....does it make a difference. I say yes. I have always tried to purchase tools made in the USA (specifically makita) or as a second choice Germany (BOSCH, Metabo, and Fein) but it is almost getting too difficult. I was at the tool store today going through the racks to see where every tool was made. Dewalt..Mexico, B&D...China, Hitachi...China and Japan, Milwaukee...USA, Germany, Mexico, and China, Bosch...Switzerland.
I guess my point is that I earn a living using my tools and feel that it is sad to see the growth of tool monopolies....specifically those associated with inferior quality. I would be interested to know if other professional tradesmen feel this way too.
gk
I feel the same as you RE made in the USA. Apparently the tool manufacturers feel that we don't care where tools are made and that the bottom line (price we pay) is all that matters to us.
I'm not assuming this. Get you hands on this month's "Tools of the Trade" magazine. It's a tenth anniversary issue that discusses the trends of the tool industry over the past ten years. One of the topics it covers is outsourcing. Most of the manufacturers stated that they feel that we as buyers don't care where they are made, only what we pay for them.
Sad but true.
> 2. who cares where tools are made....
The big difference seems to be in metalurgy and QC. I try to avoid mainland China and 3rd world sources for anything that depends on a piece of metal to be strong. The surfaces can look nice, and still it breaks like pottery.
-- J.S.