IDEAL ACQUIRES TOOL MANUFACTURER SK HAND TOOLS
Expanding its commitment to its Made-In-America mission, this acquisition follows two others earlier in the year that keep the manufacturing of the iconic tool brand in the U.S.
Posted: September 24, 2010
IDEAL INDUSTRIES, INC. (Sycamore, IL) announced that it has acquired certain assets of SK Hand Tools Corporation (Chicago, IL), one of America's leading manufacturers of tools for the professional mechanic.
Doug Spitler, vice president and general manager of IDEAL's retail and industrial divisions, has been named to run the new company, which will operate as a wholly owned subsidiary of IDEAL. Spitler says, "Acquiring SK Hand Tools will expand our focus on American-made quality, service and value. Customers can count on the SK brand being re-energized under IDEAL ownership as the premier 'Made-in-USA' line of professional tools."
This latest move follows IDEAL's acquisition of American tool makers Western Forge and Pratt Read earlier this year, and further demonstrates the company's ongoing dedication to manufacturing in the United States. Although IDEAL is still formalizing plans, the company is committed to manufacturing SK tools in the United States, either by integrating production into its existing plants or building a new, state-of-the-art facility. IDEAL will publish its comprehensive manufacturing plans for SK within 30 days after the sale closes.
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