November 22, 2008

Stanley Works plans expansion in Madhya Pradesh

BS reported that US based hand tools maker Stanley Works is planning expansion in Madhya Pradesh and will shortly open its exclusive showrooms in Indore to strengthen its hold in tool distribution market in India.

Mr Kuldeep Bhardwaj GM of Stanley said that "The plan is to target two industrial areas of Pithampur near Indore and Mndideep near Bhopal. Madhya Pradesh is a very important market for us and we are aggressively targeting the upcoming automobile and pharmaceutical industry which is in a becoming stage."

He also said that Stanley tools are the most cost effective, since they are made of highest quality product. The continuous and fast growth of the Indian manufacturing and automotive repair business made this proposition apparent to our customer.

Stanley is an S&P 500 company and holds a record of continuous dividend payouts for 129 consecutive years.