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Stanley Black & Decker (NYSE: SWK) to open new Craftsman factory in Forth Worth

  • Stanley Black & Decker going to open new manufacturing outlet in Forth Worth
  • This will employ 500 workers who make various Craftsman tools
  • The company bought Craftsman two years ago and expects it to bring in around $1 billion in additional sales within two years

Stanley Black & Decker (NYSE: SWK) announced earlier today it intends to open a new Craftsman manufacturing outlet in Forth Worth, Texas. Work should be completed before the end of next year.

The factory will employ 500 full-time workers manufacturing a variety of Craftsman tools such as ratchets, sockets and wrenches.

CEO Jim Loree said when they bought Craftsman two years ago they were determined to bring new life to this trusted American brand. He added that they expect the Craftsman brand to deliver incremental sales of nearly $1 billion within two years.