Black & Decker to open U.S. plant

Stanley Black & Decker said Thursday that it would open a new $35 million manufacturing plant in the U.S. after acquiring the Craftsman tool brand from ailing retailer Sears Holdings.

About a half century ago, the Craftsman brand was primarily made in America. Today it's largely made overseas, Loree said.

"We believe this is an excellent opportunity to re-Americanize and revitalize this legendary brand," he told investors.

In addition to the threat of trade policies that could damage imports, manufacturing products in the U.S. to sell to American consumers reduces logistics and distribution costs and lowers the company's environmental footprint, Loree said.

"It makes good business sense for us," he said.
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