The stock of ToughBuilt Industries Inc. (NASDAQ: TBLT) has dropped -1.35% to $2.19 in Wednesday’s trading session, despite the company having secured a significant order. Last trading session, TBLT finished at $2.22 on the NASDAQ.
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What contract has TBLT won?
A new deal has been signed between ToughBuilt Industries (TBLT) and four major retailers in Germany, bringing in tens of thousands of new end users across Europe in 2022, accounting for 35% of the global hand tool market. These new retailers will now sell TBLT SKUs in-store and online:
Friedrich Delker GmbH & Co. KG (“Delker”)
One of the largest privately owned hardware suppliers in Germany is Delker. We sell power tools, warehouse and factory equipment, machine tools, occupational safety products, and warehouse and factory equipment from globally recognized brands through three general headquarters across Germany and Poland and a strong e-commerce presence.
Witte Metallwaren GmbH & Co.KG (“Witte”)
Currently owned by a family, Witte supplies flooring, interior specialists, painters, and wholesalers of floor coverings. Whenever Witte adds a new brand to its portfolio, it undergoes a thorough quality testing procedure to ensure it meets its high standards.
Vageler & Christiansen GmbH (“Vageler & Christiansen”)
In addition to selling tools, machines, protective clothing, and accessories online, Vageler & Christiansen ships over 2,500 orders per month to over 30,000 end users across Europe.
Bernd Ulbricht Nachf
A major supplier of tools and consumables (such as fasteners and fixings), building chemicals, and workshop supplies to the Saxon community, it is a trusted source of quality.
How TBLT will move ahead?
As part of its global growth strategy and European expansion, ToughBuilt Industries (TBLT) can capture additional market share in one of the key EU Member states through these new partnerships in Germany. By partnering with Witte, Bernd Ulbricht Nachf, and Delker, TBLT will strengthen its reputation for quality and innovation worldwide by increasing awareness of the ToughBuilt brand.
