Chinese company buys Arrow
Hangzhou GreatStar Industrial Co., a global developer, manufacturer and supplier of hand and power tools, agreed to acquire Saddle Brook, New Jersey-based Arrow Fastener Co. Arrow is currently part of the Masco Corporation.
GreatStar, based in Hangzhou, China, is one of the largest hand tool manufacturers in Asia, specializing in designing and manufacturing high quality products for DIY, professional and industrial markets globally. Arrow is a manufacturer of staple guns and heavy duty staples.
The transaction is expected to close midyear in 2017, subject to customary closing conditions and regulatory approvals.
GreatStar Chairman and CEO Champin Chou described Arrow as “an iconic American tool brand,” and a strong addition to the GreatStar portfolio. “Arrow's sales and marketing capabilities and strong market position combined with GreatStar's manufacturing expertise, innovation pipeline and global reach will deliver more products, more innovation and more value to our customers around the world," said Chou.
Arrow President Gary DuBoff said the deal will extend the brand. "GreatStar is the ideal partner to further Arrow's plans to extend the Arrow brand into new tool categories, new channels and new geographic regions,” he said. “GreatStar's rapid innovation and investment capabilities will help accelerate Arrow's growth and broaden our new product development roadmap."
According to DuBoff, the T50 staple gun – the company’s best-known product – will continue to be manufactured in Saddle Brook. The Saddle Brook facility will also continue to distribute the staple gun, staples and other tools, and it will become a primary distribution center for GreatStar products.
Well, I guess it was only a
Well, I guess it was only a matter of time. I see how they dummied down Goldblatt tools and they will just do the same to Arrow. I feel bad for the employees and the pride they had ion their company. Sad day for the hand tool industry. AGAIN.
A hammer that wears many hats
DeWalt introduced a new 22 oz. demo hammer, an all-in-one tool designed for remodeling and demolition. It also features a patent-pending recessed drywall wedge as well as an elongated claw curve and oversized strike face for breaking through drywall.
A 2-inch-by-4-inch gripper allows for easy grabbing and prying floor boards and framing, and an enlarged claw curve brings added leverage when removing building materials compared to a traditional hammer.
The large strike face allows for optimal nail driving surface as well as designed for drywall demolition.
There’s even a side nail puller for pulling nails in confined spaces.
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The DeWalt Demo Hammer (model DWHT51366) retails for approximately $30.
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