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Tool Titans To Join

The News: Md.-based Black & Decker, Stanley Works Seek $4.5 Billion Merger

The Impact: Local Jobs, Prestige To Take A Hit As State Loses Fortune 500 Hq

November 03, 2009|By Andrea K. Walker, Lorraine Mirabella and Jamie Smith Hopkins , andrea.walker@baltsun.com, Lorraine.Mirabella@baltsun.com and Jamie.Smith.Hopkins@baltsun.com

1946: The first line of home utility drills is introduced after Alonzo G. Decker Jr., son of company's founder, notices that workers were stealing industrial power drills from defense contractors. They took the drills, then not available at local hardware stores, to do home improvements. The firm begins making electric drills, drill-bit sets, portable circular saws, jigsaws and sanders for the do-it-yourself market.

1961: Black & Decker introduces the DustBuster cordless vacuum. It also brought out a battery-powered drill - the first of a type widely sold today.

1968: Black & Decker develops a no-torque, cordless power drill used on the Apollo 16 and 17 missions to the moon. The drill is used to drill the moon's surface in the early 1970s.

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1995: Black & Decker begins operations in India and China. It introduces its DeWalt power tools to Europe and Latin America.

2003: Black & Decker acquires Baldwin Hardware.

2009: The company sees earnings decline in part because of the downturn in housing construction but says the demand for its products has started to stabilize.

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