MDM looks at reports from Stanley Black & Decker, Avnet, Timken, Illinois Tool Works, MSA Safety Incorporated, Caterpillar and Saint-Gobain.
Latest In Stanley Black & Decker
It's part of the toolmaker's plan to save $1.5 billion in three-year cost savings while shifting resources and reprioritizing investments.
The transaction was initially announced on Dec. 8, 2021, and Security generated approximately $1.6 billion in revenue that year.
Jaime Ramirez steps down as EVP and president in tools & storage, while Robert Raff leads tools as acting EVP and president.
The sale encompasses pipeline services and equipment businesses, which generated combined revenues of approximately $140 million in 2021.
In addition to the leadership announcement, the company plans to invest up to $250 million in supply chain productivity.
The innovation division of Stanley Black & Decker said Michelle Bockman has been appointed president.
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The company reported a 7% organic decline primarily related to impacts from COVID-19.
Company also reports sales up 2.3 percent in second quarter.
Profit increased 16.7 percent year-over-year to $189.4 million.
Fourth quarter sales fell 4.6 percent year-over-year.
