New U.S. plant for Stanley Black & Decker

NEW BRITAIN, Conn. — Stanley Black & Decker announced it will invest $35 million to support U.S. manufacturing with a domestic plant. Speaking after the announcement of his company’s acquisition of Craftsman, CEO James Loree did not mention Donald Trump by name, but was understood to be safeguarding the company’s position in the event of the president-elect’s promised tax on U.S. companies who outsource manufacturing abroad. “We view it sort of as one of several political movements, or concepts, that really drive us to this concept of make-where-we-sell,” he said. “It’s going to be advisable to have more manufacturing in the U.S.” A site for the factory has not yet been selected.