Techtronic teams up with Home Depot

The management of Techtronic Industries Company Limited (0669) notes to analysts that it has entered into an agreement with Home Depot for electrical tools products supply at a term of 10 years. The first five years have orders totally amounted to US$1.5 billion (approximately $11.7 billion). The agreement could be renewed for another 10 years upon expiry. The amount of orders shall have a 10% growth five years later. Techtronic expects that this year the sales will have $1.7 billion from Home Depot. Besides, Techtronic also enters into a supply agreement with Sears at a term of three years. It projects that this year income from this source will reach $1.6 billion. The turnover of Techtronic in the entire year is expected to be approximately $6.3 billion to $6.5 billion.

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