IDEAL acquires tool manufacturer SK Hand Tools

IDEAL expands its commitment to "Made In America" mission by keeping manufacturing of tool brand in the US.

Sycamore, Ill., August 23, 2010—IDEAL Industries Inc. has entered into a definitive agreement to purchase certain assets of SK Hand Tools Corp., one of America's leading manufacturers of tools for the professional mechanic.

Doug Spitler, vice president and general manager of IDEAL's Retail and Industrial Divisions, has been named to run the new company which will operate as a wholly-owned subsidiary of IDEAL: "Acquiring SK Hand Tools will expand our focus on American-made quality, service and value. Loyal customers can count on the SK brand being re-energized under IDEAL ownership as the premier 'Made in USA' line of professional tools."

This latest move follows IDEAL's acquisition of American tool-makers Western Forge and Pratt Read earlier this year, and further demonstrates the company's ongoing dedication to manufacturing in the U.S. Although IDEAL is still formalizing plans, the company is committed to manufacturing SK tools in the U.S., either by integrating production into its existing plants or building a new, state-of-the-art facility. IDEAL will publish its comprehensive manufacturing plans for SK within 30 days after the sale closes.

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