Stanley works makes its foray into Indain market

Mumbai, Nov 3 (UNI) After positioning itself well into the markets of North America, Europe, Australia and other western countries, the hand tools major, Stanley, announced today of entering the Indian market in a big way to address the demands for tools for both industrial as well as household applications.

Briefing the media about his comapny's plans in the country here today, Donald R Mcllnay, Senior Vice-President and resident of Industrial Tools/Emerging Markets Group of the company, said that ''We have plans to invest a sum of USD 20 million in the country for outsourcing jobs only.'' The 163-year old firm has already got its manufacturing arrangements with various manufacturers in India to service its global market. However, Mcllnay insisted that the same arrangement would be expanded to service the Indian market as well. Apart from selling in the Indian market, Stanley is also looking to establish engineering support services and back-office outsourcing work to leverage all the resources available in the country, he added.

''Our company is planning to introduce 654, out of a total of 1,300 products it has, of its products in the Indian market,'' Vice-President Sales and Business Development (Asia), Alex Claypool said.

But he hinted of introducing the entire range of 48,000 products (that are being sold by Stanley and its subsidieries like Proto and Mac) in a phased manner. Stanley has already achieved sales of USD 100 million in similar sized markets as India and we expect the same success here, he added.

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