ToughBuilt Industries Secures New Distributor Agreements with Four Major Retailers in Germany
05 Outubro 2022 - 9:30AM
Today,
ToughBuilt Industries, Inc. ("ToughBuilt") (NASDAQ:
TBLT; TBLTW) announced it has entered into four major
retailers in Germany, representing tens of thousands of new end
users across Europe, which accounted for a 35% share of the global
hand tools market in 2022.1 A wide range of ToughBuilt SKUs will
now be sold in stores and online by these new
retailers:
- Friedrich Delker GmbH & Co. KG (“Delker”).
Delker is one of the largest privately owned hardware suppliers in
Germany. With three general headquarters across Germany and Poland
and a strong e-commerce presence, Delker is a professional
wholesale group selling power tools, warehouse and factory
equipment, machine tools, and occupational safety products from
globally recognized brands.
- Witte Metallwaren GmbH & Co.KG
(“Witte”). Witte supplies
flooring, interior specialists, painters, and floor covering
wholesalers and continues to be under family ownership today. All
new additions to its portfolio of brands are subjected to a
stringent round of quality testing to ensure they meet Witte’s
exacting standards.
- Vageler & Christiansen GmbH (“Vageler &
Christiansen”). A major online retailer, Vageler &
Christiansen distributes tools, machines, protective clothing, and
accessories to professional consumers across Europe. The business
ships over 2,500 orders monthly to over 30,000 end users.
- Bernd Ulbricht Nachf, A supplier of professional customers with
tools and consumables (such as fixings and fastenings), building
chemicals, and workshop supplies from its headquarters in
Großolbersdorf, is an established source of quality for the Saxon
community.
Michael Panosian, ToughBuilt CEO, commented, “These new
partnerships in Germany offer the Company opportunities to capture
further market share in a key EU Member state for ToughBuilt’s
global growth strategy and European expansion. Our distribution
alliance with Witte, Bernd Ulbricht Nachf, and Delker will help to
increase awareness of the ToughBuilt brand, cementing our
reputation for quality and innovation worldwide.”
- COHERENT MARKET INSIGHTS 2022,
(https://www.coherentmarketinsights.com/market-insight/hand-tools-market-3807)
ABOUT TOUGHBUILT INDUSTRIES, INC:
ToughBuilt is an advanced product design,
manufacturer and distributor with emphasis on innovative products.
Currently, we are focused on tools and other accessories for the
professional and do-it-yourself construction industries. We market
and distribute various home improvement and construction product
lines for both the do-it-yourself and professional markets under
the TOUGHBUILT brand name, within the global multibillion dollar
per year tool market industry. All of our products are designed by
our in-house design team. Since launching product sales in 2013, we
have experienced significant annual sales growth. Our current
product line includes three major categories, with several
additional categories in various stages of development, consisting
of Soft Goods & Kneepads and Sawhorses & Work Products. Our
mission is to provide products to the building and home improvement
communities that are innovative, of superior quality derived in
part from enlightened creativity for our end users while enhancing
performance, improving well-being and building high brand loyalty.
Additional information about the Company is available at:
https://www.toughbuilt.com/.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements.” Such
statements may be preceded by the words “intends,” “may,” “will,”
“plans,” “expects,” “anticipates,” “projects,” “predicts,”
“estimates,” “aims,” “believes,” “hopes,” “potential” or similar
words. Forward-looking statements are not guarantees of future
performance, are based on certain assumptions and are subject to
various known and unknown risks and uncertainties, many of which
are beyond the Company’s control, and cannot be predicted or
quantified and consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, without limitation, risks and
uncertainties associated with (i) the impact of the worldwide
COVID-19 pandemic and government actions, on our business, (ii)
supply chain disruptions, (iii) market acceptance of our existing
and new products, (iv) delays in bringing products to key markets,
(v) an inability to secure regulatory approvals for the ability to
sell our products in certain markets, (vi) intense competition in
the industry from much larger, multinational companies, (v) product
liability claims, (vii) product malfunctions, (viii) our limited
manufacturing capabilities and reliance on subcontractors for
assistance, (ix) our efforts to successfully obtain and maintain
intellectual property protection covering our products, which may
not be successful, (x) our reliance on single suppliers for certain
product components, (xi) the fact that we will need to raise
additional capital to meet our business requirements in the future
and that such capital raising may be costly, dilutive or difficult
to obtain and (xii) the fact that we conduct business in multiple
foreign jurisdictions, exposing us to foreign currency exchange
rate fluctuations, logistical and communications challenges,
burdens and costs of compliance with foreign laws and political and
economic instability in each jurisdiction. More detailed
information about the Company and the risk factors that may affect
the realization of forward looking statements is set forth in the
Company’s filings with the Securities and Exchange Commission
(SEC), including the Company’s Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. Investors and security holders are
urged to read these documents free of charge on the SEC’s web site
at http://www.sec.gov. The Company assumes no obligation to
publicly update or revise its forward-looking statements as a
result of new information, future events or otherwise.
Investor Relations Contact:
KCSA Strategic Communications
David Hanover
toughbuilt@kcsa.com
ToughBuilt Industries (NASDAQ:TBLTW)
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