So much for Craftsman's US plant

50C8DAN50C8DAN Posts: 2,790Senior Contributor
in HUDSON
I remember when B&D made a big announcement in 2019 about bringing Craftsman tools back to US mfg.  Well so much for that idea.  https://www.industryweek.com/leadership/companies-executives/article/21262332/stanley-black-decker-cutting-in-texas-and-south-carolina-adding-in-tennessee

In checking at the local Lowes many of them are made in Taiwan.  At least it is better than China.  

Comments

  • LanceLance Posts: 1,171Member
    Well Dan, then that brand is returned to it's place as import junk. I can't imagine why they went to the trouble of buying the Craftsman name, make a big fuss about it coming back to the US to regain it's stature as a quality US product only to have it go back to being made in the orient. Makes no sense.
  • eddiehudsoneddiehudson Posts: 75Member
    Unless I'm reading it wrong, Stanley is moving  production from SC and Texas to Tennessee. There is no mention of going back to Asian production.
  • 54coupe54coupe Posts: 1,124Member
    Unless I'm reading it wrong, Stanley is moving  production from SC and Texas to Tennessee. There is no mention of going back to Asian production.


    I read it the same as you did.
  • 50C8DAN50C8DAN Posts: 2,790Senior Contributor
    The SC is moving to TN, no mention of TX moving to SC. 
  • superwaspsuperwasp Posts: 424Member
    I have a feeling we'll see a return to off-shoring as the US continues to move closer to raising the corporate tax rate. 
  • 35 Terraplane35 Terraplane Posts: 426Senior Contributor
    From a web site I’ve been following on the subject. Maybe someone in the Fort Worth area can verify. 

    As we previously reported, Craftsman has been establishing a new USA factory, in Forth Worth, Texas, for the production of select mechanics tools and tool sets.

    Stanley Black & Decker, which owns the Craftsman brand, has been making progress on the new manufacturing facility, and provided an update on its status.

    The new Craftsman facility is built and nearing completion. This facility will manufacture a wide range of Craftsman mechanics hand tools, including sockets, ratchets, wrenches, and general sets

  • cheyenne7271cheyenne7271 Posts: 558Member
    Well good. I was at Lowe’s the other day and didn’t even glance over at the craftsman tools, as I’m so disappointed in the last set of sockets, and roll chest I bought. 
    51 Hornet Club Coupe
    51 Hornet Sedan
    51 Commodore Six Club Coupe
    50 Pacemaker Deluxe R.I.P. (burned and destroyed in building fire)
    49 Super Six Sedan
  • cheyenne7271cheyenne7271 Posts: 558Member
    Anymore it’s disappointing to buy anything anywhere because nothing is good quality, and nothing is made here.
    51 Hornet Club Coupe
    51 Hornet Sedan
    51 Commodore Six Club Coupe
    50 Pacemaker Deluxe R.I.P. (burned and destroyed in building fire)
    49 Super Six Sedan
  • tigermothtigermoth Posts: 558Expert Adviser
    US corporate tax rate has been decreasing for the last 42 years!  Exportation of production has been fueled by greed more than necessity. Why pay a fair wage when you can hire someone for a nickel an hour. Tool companies that were profitable wanted MORE profits (peterson tool of vise grip fame for example) 
    current corporate tax rates for the US lie almost dead center worldwide.
     Why not move the jobs to places that don’t care about proper waste disposal or the quality of the air for their citizens as long as my disposable thing-a-ma-Bob costs me a penny less. 

    regards, Tom
  • tombiatombia Posts: 196Member
    Now the last comment made sense.
  • superwaspsuperwasp Posts: 424Member
    "US corporate tax rate has been decreasing for the last 42 years!"
    True, but an exceptionally misleading statement. The corporate tax rate is budgeted to increase 7% next year, AND our rate is still far higher than it was during our industrial 'heyday'. 
    When the rate was lowered in 2018, billions of dollars and production was repatriated and re-shored.

  • drivergo2drivergo2 Posts: 404Expert Adviser
    If the jobs stay here the money stays here, and spent here 
  • StepUpStepUp Posts: 176Member
    Political will could change the corporate tax rate-- quickly. The misguided and entrenched US political view that most things related to manufacturing directly undermine the utopian daydream of saving planet earth--cannot. Root cause of that view: many years of poor, short sighted, selfish leadership. Meanwhile, global competitors race ahead and prosper. 
  • 35 Terraplane35 Terraplane Posts: 426Senior Contributor
    55 of the largest corporations registered in the USA didn't pay any income tax last year.  This under the guise that by not paying taxes they will reinvest in manufacturing in the USA.  Funny but I haven't seen that reinvestment yet
  • tigermothtigermoth Posts: 558Expert Adviser
    edited March 24
    Amen.
    I am old enough to remember during our industrial “heyday” our rivers caught on fire. 
    My job took me to China weekly until I retired in 2021. Thousands of empty “make work” housing complexes throughout the country. 
    I am much happier here. 
    Also I am not aware of the world corporate tax rate during our “heyday” so I cannot compare. 
    Quick google search, it appears the corporate tax rate during our industrial heyday approached 50% as compared to the current 35% (or zero for the top earners)

    regards, Tom
  • jjbubaboyjjbubaboy Posts: 918Senior Contributor
    Found this little blurb courtesy of Hagerty:

    Craftsman shutters Fort Worth, Texas, facility

    Intake: Craftsman, the toolmaker owned by Stanley Black & Decker, is closing its Fort Worth, Texas, manufacturing facility along with transferring its Cheraw, South Carolina, operations to its facilities in Jackson and Gallatin, Tennessee. This move will impact 175 employees at the Texas facility and 182 employees in South Carolina and add 80 jobs in Tennessee. In a press release regarding the move, Stanley Black & Decker stated this move was “designed to deliver $2 billion of cost savings and [is] reflective of current economic conditions which highlighted needed changes in Stanley Black & Decker’s production and distribution network.” 

    Exhaust: Interestingly, the Fort Worth facility was one of the more recent, large investments for the brand, who only opened it in late 2022. As someone who has a box filled with Craftsman tools, this is disappointing to watch, but there are still places that will honor the lifetime warranty. Whether or not I want to exchange my Craftsman tools for newer ones is the real question. Investors feel similarly; Stanley Black & Decker’s stock is at a five-year low, despite the fact that many Craftsman still operates 40 manufacturing facilities in the U.S. — Kyle Smith 

  • tigermothtigermoth Posts: 558Expert Adviser
    darn
    regards, Tom
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