Stanley Black & Decker to build $35M US factory

Stanley Black & Decker announced yesterday plans to build a $35 million factory in the United States.

Though he did not mention President-elect Donald Trump by name, Stanley Black & Decker CEO James Loree told investors Thursday expanding American manufacturing makes "business sense" amid "pervasive" uncertainty regarding the future of U.S. trade with China and Mexico.

"It’s going to be advisable to have more manufacturing in the U.S.," Loree said.

In another large move for the company, Stanley Black & Decker announced it would buy the Craftsman brand from Sears Holdings for $900 million, including future royalty payments.

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