Company is recognized for growth and contribution to Charlotte's economy.
Positec Tool Corporation, a global company that manufactures and markets power tools, lawn and garden equipment and accessories under the Rockwell and Worx product lines, today announced that it has opened a new distribution facility in Huntersville, NC, adding up to another 20 jobs to the 35 new positions that the company had already created in the area in 2011.
Named 2010 Innovator of the Year by Lowe’s, Positec moved its Charlotte-based North American headquarters to 10130 Perimeter Parkway in March 2011. With the new distribution facility in Huntersville, the company has decided to further consolidate its presence in North Carolina and bring additional hiring and spending to the local and state economies.
“We see significant benefits from being able to service our key retail partners from an East Coast facility,” said Tom Duncan, President and CEO of Positec Tool Corp. “Charlotte is an ideal location due to several factors – its proximity to Positec’s U.S. headquarters and recertification facility, the operational value in being close to the Port of South Carolina for U.S. entry, access to major highways, and an excellent workforce. The ability to be responsive to Positec's customer base at a lower cost is a key benefit.”
Positec relocated the retail distribution facility from Long Beach, CA to Huntersville in a partnership with logistics partner Performance Team Inc., to support the tool-maker’s operations. The new distribution facility is located at 13201 Reese Boulevard in Huntersville, NC and measures approximately 185,000 square feet. It features new technology that was not being used in California, including a totally integrated warehouse management system with scanned technology, which allows for a paperless environment. It has a capacity to process more than 150,000 units a month, and Performance Team has already processed over 350,000 units since it began operations.
In keeping with the company’s overall commitment to sustainable manufacturing and green products, the new space has several environment-friendly features such as low voltage lighting, use of recycled materials, and a recycling program for 100 percent of the corrugated boxes and plastic strapping and pallet wrap for the packaging material of products shipped from China.
Wins Regional Recognition
Positec was also ranked #5 on North Carolina’s Mid-Market FAST 40, and was also recognized as #19 on Charlotte Business Journal’s 2011 Fast 50 list of high-growth private companies in terms of percentage revenue growth, and #2 in terms of dollar revenue growth.
Presented by Business North Carolina and Cherry, Bekaert & Holland, LLP, the NC Mid-Market FAST 40 program honors those middle-market companies headquartered in North Carolina that have had the greatest growth in revenue and employees over the last three years. Positec was recognized in the Large Middle Market category (companies with revenue of $100 to $500 million).
Charlotte Business Journal recognizes the 50 fastest-growing private companies in the Charlotte area with an award for their outstanding entrepreneurial excellence and leadership, and for bringing best practices to the table in their respective industries. Positec is the only power tool company on the Fast 50 list.
“We are extremely honored to be recognized by two of North Carolina’s leading business publications for our success and growth in the region,” said Paul Tellefsen, Chief Financial Officer, Positec Tool Corp. “Positec is proud to bring jobs and opportunities for people right here in Charlotte, and we are committed to building and growing our presence in the great State of North Carolina.”
Positec has grown from two employees in 2005 to more than 110 today during a time that has been especially turbulent for housing and the power tool industry. Despite the economic headwinds, the company’s sales in the U.S. have risen by more than 160 percent over the past three years.
Positec USA markets and distributes its WORX line of home improvement tools and accessories and Rockwell line of power tools to home improvement retailers throughout the US and Canada. Since 2005 it has seen its sales in America grow to over $200 million in 2010, driven by the successful launch of its WORX and Rockwell brands.