Techtronic Industries Co. Ltd. (HKSE:00669) (“TTI”) is a global leader in designing, manufacturing and selling home-improvement products, including power tools, outdoor power equipment and floor-care appliances. The company manufactures and distributes its own branded products, such as power tools under the RYOBI and Milwaukee brands, as well as floor-care products under the Hoover and Dirt Devil brands. TTI has enjoyed strong sales performance, recovering from 2008 level, based on innovative product designs which have incorporated cordless batteries in their power tools. TTI’s prospects in the coming years appear positive, with strong potential of gaining market share through brand recognition, as well as competitive advantage in design and supply chain management.
From Value Partners (Trades, Portfolio)’ Classic Fund Second Quarter 2014 Commentary.
