Danaher Corp., based in Washington, announced yesterday that it has been selected by Sears, Roebuck and Co. to become the sole source of Sears Craftsman mechanics' hand tools for the giant retail chain beginning next year.
"The potential 1992 sales increase is expected to exceed $40 million," George M. Sherman, Danaher's president and chief executive officer, said in a statement. The company said that sales connected to Sears Craftsman tools totaled about $142 million last year.
Tools involved in the new agreement include wrenches, ratchets and sockets, said Greg Rossiter, a spokesman for Sears in Chicago.
The tools are produced at Danaher plants in Springfield, Mass.; Springdale, Ark.; and Gastonia, N.C., he said.
"We've decided to consolidate the production of those types of tools," said Mr. Rossiter, noting that, after the agreement takes effect next January, Sears will cease buying Stanley brand mechanics' hand tools as it has in the past.