Our new, 95,000-square-foot, MILWAUKEE manufacturing plant in West Bend, Wisconsin is a US$55 million state-of-the-art facility located only 20 minutes from our Milwaukee North America headquarters. The advanced technology and equipment within the facility allows us to manufacture hand tools in the USA for the first time ever. The facility is committed to producing high-quality tools for professionals and consumers in electrical, power utility, plumbing, and mechanical trades. It has created 150 new jobs and is the first development in the City of West Bend’s newest 216-acre industrial park - the West Bend Manufacturing Center.

Our facility has incorporated proactive ergonomic, safety, and sustainability considerations into the design of the facility. With the highest level of innovation in its class, this factory enables us to achieve better control and efficiency in our operations while setting a new benchmark for safety, efficiency, and innovation.

When laying out the facility and processes, ergonomic design principles were incorporated into each workstation. Height-adjustable worktables are used to ensure our team members can position work in their comfort zone. Self-adjusting pallet risers are used to keep parts and bins at an optimal position for lifting and handling thereby reducing the risk of injury and increasing efficiency. Pick-and-place robots are also used in machining centers, eliminating highly repetitive tasks that can lead to repetitive motion injuries over time. We also have machine guarding with safety circuitry being used on all automated systems to ensure the safety of our team members.

In addition to a strong focus on ensuring the safest work environments, our Milwaukee business and our West Bend facility are highly committed to energy efficiency, using advanced technologies and processes to minimize our impact on the environment. Sustainable operations are an important part of our culture. By using technologies such as high efficiency HVAC /process equipment and occupancy sensors for the LED facility lighting, we are able to operate while reducing our impact on the environment.

Our Milwaukee business is continually exploring new methods of eliminating waste from our operations. When process scrap does occur at the West Bend facility, we search for ways to reuse and/or recycle these waste streams in a sustainable and environmentally friendly method. The robust recycling methods will help us to further increase our waste diverted from landfills. Our new West Bend facility highlights our commitment to environmental and sustainable progress.

At TTI, we ensure that protecting our customers, employees, and business data meets the highest standards. We have taken the necessary measures to prevent data breaches and enhance our cybersecurity network and digital system. Eduardo Ortiz-Romeu, Global Head of Cybersecurity, oversees the management of data security. Mr. Ortiz-Romeu is a boardroom Qualified Technology Expert (QTE), who specializes in IT, cybersecurity, operational frameworks, and programs that protect organizations’ networks, systems, and data.

Mr. Ortiz-Romeu leads TTI’s Information Technology Steering Committee (ITSC), which aligns all BUs and helps improve risk and cost management across the Group. The committee meets monthly to review metrics, assess emerging threats and share best practices. We also have a global cybersecurity insurance policy that helps protect us in case of potential breaches.

Cybersecurity conditions are constantly changing, but our programs are designed to continuously assess and develop our security measures. One software program we have in place tracks nearly all 40,000 devices used within the company. This management detection service monitors cyber-attacks and indicators of compromise (IOC), internally and externally, around the clock. Using this system positions the program in a proactive mode against potential cyber-attacks or suspicious activity. We completed the rollout across our global organization in June 2022, with improvements constantly being made. Additionally, we initiated an Operational Technology Assessment in 2022. This assessment evaluated the conditions and risks of our manufacturing and distribution center technology to further enhance the safeguards of our digital and physical assets.

In 2022, one of our key initiatives was increasing employee cyber security awareness and training. We are happy to share our progress on this crucial initiative by launching a monthly cybersecurity training program. The program includes training courses sent to associates with videos designed to be engaging and informative. The training topics include, but are not limited to: password protection, phishing, public Wi-Fi, portable storage devices, and ransomware. Another initiative we expanded is an increased number of regularly sent phishing tests to our employees. This allows us to gauge the effectiveness of our phishing training programs that are in place to help spot potential fraudulent emails and handle them appropriately.

Our completion rate, excluding new hire training, has surpassed the industry average, with a rate of over 80% since the relaunch of the training program. To help motivate our associates we introduced incentive plans to encourage them to complete the training. With these training programs being available to most employees, our objective is to reach 90% completion.

Cybersecurity is an ever-evolving field that requires constant awareness and improvement. As threats to networks, systems, and data continue to emerge and evolve, we must remain vigilant in protecting ourselves. By continuously improving our understanding of cybersecurity and implementing effective governance practices, we can ensure that our organizations are well-equipped to protect against threats and maintain the integrity of our systems and data.

TTI’s distinctive advantage has always been our focus on developing cordless battery powered solutions and our investment in clean technology.

Over the years, we have continued to look holistically at our products life cycle to integrate sustainability attributes along our value chain. When creating our product development process, we aim to mitigate product-related injuries, as well as create innovative tools that consider recyclability, repairability, and longevity.

We ensure our team conducts extensive testing and evaluation of each product to ensure it meets strict safety standards. Additionally, we have a strong focus on designing tools that are not only innovative, but also considerate of the environment. Our approach simultaneously promotes product safety, while offering low emission and low noise products.

One of the key elements of our cordless leadership is the value creation from the Network Effect of our battery platforms. The key features of this technology are interchangeability and compatibility, allowing end users to power their ever-expanding range of products and tools using a single battery platform. This has a substantial impact on reducing our carbon footprint by preventing waste and utilizing less materials.

Embedded in our sustainable infrastructure is our clean solution for tools, replacing gas with battery-powered options. This is what makes our products “clean tech”. In the same way replacing a gas-powered vehicle with an electric vehicle reduces the carbon footprint of a consumer, so does replacing a gas-powered tool with a battery-powered one.*

The Network Effect is strengthened every time a new product is added to any of our platforms. Each new product enhances the value of its platform and helps boost productivity for our end-users who are professionals or DIY consumers.

For decades, TTI has been designing energy-efficient and safe products, beginning with cordless battery technology. In subsequent years, we have also developed products with low carbon emissions and reduced noise levels while in use. One of the key areas in which we continue to innovate is the conversion of users from legacy corded and gas powered products to cordless lithium battery technology. We are a leader in cordless innovation and are constantly striving to improve the performance of our products, as well as enhance safety and minimize environmental impact.

Our Exceptional People are at the forefront driving a one-of-a-kind culture across all functions and operations of the organization. We pride ourselves in investing and developing in our people and we are committed to fostering a multicultural, diverse and inclusive workforce. In 2022 alone, we hired 1830 new associates through the program, with 37% of those hires identifying as female. These future leaders are vital to increasing gender diversity within our company and shaping our organization’s future.

By providing the tools, resources, and experience to encourage individuals to grow professionally and personally, decades of industry knowledge is passed down and this has become the core of our innovative workforce.

We have focused on recruiting graduates from over 100 colleges and universities globally. As part of the program, our LDP associates regularly engage their assigned mentor with participation in leadership and management courses, such as those at the Harvard Business School. Upon graduation, they are offered opportunities to rotate to different functions, departments, business units and countries. This allows them to gain valuable skills and exposure to hold key management positions throughout our organization.

Over the years, our LDP has expanded to develop leaders for specific functions, including but not limited to:

Associates start off in our entry-level Sales and Marketing position where they will drive sales of our premier product lines directly in one of our strategic retailer partners. Field Sales and Marketing Representatives and Event Marketing Specialists are taught the fundamentals and gain a grassroots perspective of our business by: selling in-aisle to customers, inspiring creativity through in-store product demonstrations, gaining additional merchandising space, and building & fostering relationships with our strategic partners.

The EDP equips freshly graduated engineers with valuable lessons learned, as well as extensive knowledge on product, design, and technical aspects. With this knowledge, they are able to produce innovative, top-notch solutions that prioritize customer satisfaction. Along with enhancing their technical skills, EDP participants also cultivate their leadership abilities. By taking part in our fast-paced, demanding projects, EDP colleagues earn early responsibility in their careers.

The primary goal of this program is to recruit exceptional candidates from academic institutions, and to provide them with training and development opportunities so that they can become future leaders in various operational domains such as Manufacturing, Supply Chain, Sourcing, Quality, and Distribution. During the program, graduates have the chance to work in different operational roles and gain practical experience through hands-on training, while being guided and mentored by experienced leaders.

This program hires the best talent to train and develop them into future leaders within finance functions. These FLDPs rotate to different departments, from Treasury, to Internal Audit, Accounts Receivable/ Accounts Payable, Operations Finance, Investor Relations, Commercial Finance and FP&A.

The Legal Leadership Development Program (LLDP) hires top talent to develop into future leaders in legal, compliance and intellectual property areas. The program is designed to provide employees with a comprehensive understanding of the legal industry, along with the tools and resources they need to advance their careers and develop their skills.

These innovators, from all walks of life, will continue to build a sustainable future for our industry, our customers, and our communities.