MarketMilwaukee Tool
Company Profile

Milwaukee Tool

Milwaukee Electric Tool Corporation, known more commonly as Milwaukee Tool or simply Milwaukee, is an American multi-national company that develops, manufactures, and markets power tools, hand tools, tool accessories, tool storage, and personal protective equipment. Milwaukee Tool was last sold in 2005 for $626.6 million to the multinational holding company TTI Group. The company now operates as an independent subsidiary of TTI Group alongside brands like AEG, Ryobi, Hoover, Dirt Devil, and Vax. In 2022, $206 million was invested in Wisconsin research and development facilities.

History
In 1918, A.H. Peterson developed the Hole-Shooter, a one-handed operation, capacity power drill powered by a series-type Westinghouse motor. This drill was lighter than other models available at the time, weighing only . In 1930, Milwaukee Electric Tool Corporation began producing tools for the U.S. Navy. Milwaukee Tool received an equipment specification rating for their electric drill. Milwaukee Tool then began developing portable hand grinders, electric hammers, sanders, and polishers. It was later sold to Merrill Lynch in 1986, Atlas Copco in 1995, and finally, Techtronic Industries in 2005. In 2021, Milwaukee Tool opened a Service hub in Greenwood, Indiana. The $6.75M investment complimented Milwaukee Tool's service hub in Greenwood, Mississippi, as well as the company's network of factory and authorized Service centers across the United States. In 2022, the company continued to expand the system and broadened its focus with workshop storage solutions. In 2022, Milwaukee Tool opened a manufacturing facility in West Bend, Wisconsin for the production of hand tools, starting with pliers and screwdrivers. The company has the right of first refusal (ROFR) to purchase additional land for future expansion. Foreign forced labor allegations In 2023, U.S. lawmakers at the Congressional-Executive Commission on China questioned Milwaukee Tool over allegations its suppliers may have used forced Uyghur labor from Chinese prisons in the manufacture of work gloves. In response to an earlier inquiry by the Business & Human Rights Resource Centre, Milwaukee Tool has said they do not tolerate the use of forced labor, and that they have strict policies and procedures in place to ensure that no authorized Milwaukee Tool products are manufactured using forced labor. Milwaukee Tool says they investigated the claims and found no evidence to support them. After questioning company officials, Representative Chris Smith, Chair of the U.S. Congressional-Executive Commission on China, said that Milwaukee Tool ultimately discovered multiple examples of counterfeit gloves bearing their brand name being made in China, and cut ties with the manufacturer in question. Milwaukee Tool has been accused in US courts of benefitting from forced labor assignments in Chinese prisons, with former prisoner Lee Ming-che recalling being forcibly tasked with gluing a patch bearing Milwaukee Tool's distinctive lightning bolt onto its leather work gloves while incarcerated in Hunan's Chishan Prison. Production development • In 1935, Milwaukee Electric Tool Corporation developed a lightweight electric hammer drill. This power tool was designed to drill and sink anchors into concrete. This drill could also be converted into a standard drill. Milwaukee also designed an easy-to-handle, single-horsepower sander/grinder that weighed only . ==References==
tickerdossier.comtickerdossier.substack.com