Another corporation has announced that they are moving their manufacturing plant back to the United States because of President-elect Donald Trump.
Stanley Black & Decker, one of the most well known hand and power tool manufacturers in the United States, has unveiled plans to open a new $35 million manufacturing plant in the United States to help it rebuild, and perhaps more importantly “re-Americanize,” the Craftsman tool brand it just bought from Sears Holdings, according to Fortunre.
In remarks to investors during a Thursday conference call, Stanley Black & Decker CEO James Loree said it just makes “business sense” to move manufacturing back to the U.S., especially given the uncertainty of trade relations with China and Mexico, USA Today reported.
“It’s going to be advisable to have more manufacturing in the U.S.,” Loree added.
“We believe this is an excellent opportunity to re-Americanize and revitalize this legendary brand,” he concluded.
The remarks come after the company announced the impending purchase of the Sears Craftsman tool line for about $900 million after Sears suffered another round of setbacks which will include the closing of at least 150 more stores, Breitbart reported..
Only days ago at the start of the new year, Ford Motors announced it was canceling plans to build new manufacturing facilities in Mexico and will instead re-invest in America.
But Ford is only the latest. A whole list of companies have already promised to bring investment and jobs to America since Trump’s election.
Immediately after Trump’s big November win, such companies as Carrier, SoftBank, U.S. Steel, and IBM all announced major additions to the U.S. job market.