Stanley Works
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| The Stanley Works | |
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| Type | Public (NYSE: SWK) |
| Founded | 1843[1] |
| Founder | Frederick Trent Stanley[1] |
| Headquarters |  New Britain, Connecticut |
| Key people | John F. Lundgren Chairman and CEO James M. Loree EVP and CFO |
| Industry | Hardware |
| Products | Tools |
| Revenue | US $4.48 billion (2007)[2] |
| Employees | 17,600[2] |
| Website | Stanley Works |
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This article does not cite any references or sources. (May 2007) Please help improve this article by adding citations to reliable sources. Unverifiable material may be challenged and removed. |
The Stanley Works (NYSE: SWK) (known casually as simply Stanley) is a manufacturer of tools and hardware headquartered in New Britain, Connecticut.
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[edit] History
The company was created by the 1920 merger of Stanley's Bolt Manufactory, founded by Frederick Trent Stanley in 1843, and The Stanley Rule and Level Company, founded by Frederick's cousin, Henry Stanley, in 1857.
In May of 2002, the company considered moving its corporate headquarters to Bermuda, but public and governmental outcry forced management to reconsider the move. By August of 2002, the company had decided to maintain its incorporation in the United States.
John F. Lundgren was elected as Chairman & Chief Executive Officer in 2004, replacing John Trani, a former protegé of Jack Welch at General Electric.
[edit] Acquisitions
Stanley Works purchased the Chatsworth-based Monarch Mirror Door Co. Inc., a 1,000-employee manufacturer of sliding and folding mirror-doors in 1992, formerly owned by Oscar Kain, of Los Angeles (now deceased). Terms of the sale were not disclosed.
In 1996 Stanley Works acquired Bostitch from Textron. In October 2002, Stanley Works acquired Best Access Systems of Indianapolis, Indiana for $310 million. The acquisition also prompted the creation of a new Access Controls Group for Stanley. Further additions to this new working group included Blick plc of Swindon, England, a United Kingdom leading integrator of security solutions, communication, and time management solutions to the commercial and industrial sectors, selling direct to end users. In January 2004, Stanley announced plans to acquire Frisco Bay Industries Ltd. for $45.3 million, a Canadian provider of security integration services. In December 2004, the acquisition of ISR Solutions, Inc., headquartered in Washington, DC was announced. ISR Solutions is an electronic security integrator providing the U.S. federal government and commercial customers with access security system services. January 2005, the acquisition of Security Group, Inc. was announced. Security Group was composed of two primary operating companies: Sargent & Greenleaf, Inc., a manufacturer of medium and high security locks and Safemasters, a North American provider of physical security installation, maintenance and repair services, with an emphasis on mechanical locking systems. An additional acquisition of Precision Hardware was made in 2005. In 2006 Stanley furthered its corporate assets in the security market by acquiring HSM Electronic Protection Systems after it had been spun off from Honeywell in compliance with pre-emptive SEC antitrust rulings. In the meantime, the Company was able to strike facilities security contracts as the primary contractor to secure 3 NASA spaceflight centers. [3] In late 2007, Stanley acquired OSI Security of Chula Vista, CA. OSI Security is a provider of battery operated wireless lock technology and supplies to government, education, and healthcare industries. As of 2008, many of the Stanley Security Services divisions are being integrated under the unified HSM brand.
[edit] Products
Stanley is a well-known brand of tools and has produced millions of hand planes, saws, rulers, try squares, chisels, screwdrivers, and many other types of tools for consumer and for industrial use. Their innovations include the Bailey plane, the Surform shaper, the PowerLock tape measure, and the utility knife or in British English, the Stanley knife. Stanley is also a supplier of PoziDriv (improved Phillips lookalike) screwdrivers. Stanley sells industrial and commercial fasteners as well as air compressors under the Bostitch brand.
The Stanley brand name has been widely-licensed to include shoes, clothing and Lawn & Garden Tractors.
Stanley Works received the Golden Hammer Award for new product innovation in 2000, 2001 and 2002 .
[edit] Divisions
- Best Access Systems (door hardware and locks)
- Bostitch
- Craftsman Hand Tools (up to the mid 1980s)
- CST/berger (surveying)
- Facom
- HSM (security services)
- Integrator (security electronics)
- Intivid Solutions (video electronics)
- Mac Tools
- National (general hardware)
- Proto
- Safemasters (security products)
- Stanley
- Vidmar (Industrial storage)
[edit] References
[edit] Further reading
- John Walter - Antique & Collectible Stanley Tools: Guide to Identity & Value (The Tool Merchant, Ohio, 1996) ISBN 1-878911-02-3
