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Milwaukee Tool was last sold in 2005 for $626.6 million to the Hong Kong–based Techtronic Industries, also known as TTI Group. [2] [3] The company is now a subsidiary of TTI Group alongside brands like AEG, Ryobi, Hoover, Dirt Devil, and Vax. [4] In 2022, $206 million was invested in Wisconsin research and development facilities. [5]
Techtronic Industries Company Limited (TTI Group or TTI) is a Hong Kong–based multinational company that designs, produces, and markets power tools, outdoor power equipment, hand tools, and floor care appliances. It pioneered cordless power tools powered by lithium-ion rechargeable batteries. [1] [3]
TTI, Inc., entered the European market in 1992 with its first office in Munich, Germany. Since that time the company’s European reach has spread to over 40 countries. In 2008, TTI acquired the Mateleco Group, a large connector distributor in France, becoming the primary distributor in both passives and connectors in France. [3]
The Ridge Tool Company is an American manufacturing company that makes and distributes tools under the Ridgid brand name. The company was founded in 1923 in North Ridgeville, Ohio . [ 1 ] In 1943, it relocated to its current location in Elyria, Ohio , and in 1966, it became a wholly owned subsidiary of Emerson Electric .
Since 1999 the brand has been owned by a company called TTI Co. Ltd Group, which is based in Hong Kong. Vax UK Ltd has its main headquarters and R&D centre located in the city centre of Birmingham, West Midlands and a service, warehouse and depot operation in the village of Hampton Lovett, near Droitwich, Worcestershire.
Dirt Devil is a brand name originally introduced (or debuted) in 1981 by the Royal Appliance Manufacturing Co, an American vacuum cleaner and floor care company. The company and the brand are now owned by TTI Floor Care North America, a subsidiary of Hong Kong–based Techtronic Industries, who also own Oreck, Vax, and Hoover North America.
At year end 2021, Berkshire Hathaway Energy owns 7.7% of Chinese electric vehicle manufacturer BYD Company, and Berkshire Hathaway owns approximately 6% stakes in five major Japanese conglomerates, ITOCHU Corporation, Mitsubishi Corporation, Marubeni Corporation, Sumitomo Corporation and Mitsui & Co., Ltd. [79]
The Ryobi Seisakusho Co., Ltd., was founded in Japan in 1943 and began selling die-cast products in 1944. In 1961, the company began manufacturing offset printing presses and was listed on the Tokyo Stock Exchange. Ryobi began production of power tools in 1968. The company's name changed in 1973 to Ryobi, Ltd. [4]
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