TOUGHBUILT™ INCREASES PRODUCT SKU’s FROM 4 TO 25 AT NETHERLANDS LEADING RETAILER, TOOLSTATION
February 17 2021 - 9:00AM
ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TBLT; TBLTW),
today announced that it has grown its business from 4 SKU’s to 25
SKU’s with Toolstation. These include current ranges of
ToughBuilt’s steel sawhorse line, soft-sided tool storage and
kneepads and have been slotted for immediate placement in all
stores, catalog and on www.toolstation.nl in the Netherlands and
Belgium region.
Michael Panosian, ToughBuilt CEO, commented, “We
are very proud to report on our growing relationship with
Toolstation, which reaches thousands of end users through its
brick-and-mortar stores, strong catalog distribution and online
presence. Our increases SKU count with Toolstation strengthens our
presence in Europe and expands our coverage in the Benelux region.
Our products will be shipped directly from our stock at Netherlands
3PL center. We look forward to launching many more lines and
growing with Toolstation across more categories and across
Europe.”
About
Toolstation:Toolstation, based in the
Netherlands and founded in 2006, with over 60 stores in Benelux
countries. One of the highly respected single source suppliers of
tools, accessories and building products for professionals and
serious do-it-yourselfers.
ABOUT TOUGHBUILT INDUSTRIES,
INC.:ToughBuilt is an advanced product design,
manufacturer and distributor with emphasis on innovative products.
Currently focused on tools and other accessories for the
professional and do-it-yourself construction industries. We market
and distribute various home improvement and construction product
lines for both the do-it-yourself and professional markets under
the TOUGHBUILT brand name, within the global multibillion dollar
per year tool market industry. All of our products are designed by
our in-house design team. Since launching product sales in 2013, we
have experienced significant annual sales growth. Our current
product line includes three major categories, with several
additional categories in various stages of development, consisting
of Soft Goods & Kneepads and Sawhorses & Work Products. Our
mission is to provide products to the building and home improvement
communities that are innovative, of superior quality derived in
part from enlightened creativity for our end users while enhancing
performance, improving well-being and building high brand loyalty.
Additional information about the Company is available
at: https://www.toughbuilt.com/.
Forward-Looking Statements:This
press release contains “forward-looking statements.” Such
statements may be preceded by the words “intends,” “may,” “will,”
“plans,” “expects,” “anticipates,” “projects,” “predicts,”
“estimates,” “aims,” “believes,” “hopes,” “potential” or similar
words. Forward-looking statements are not guarantees of future
performance, are based on certain assumptions and are subject to
various known and unknown risks and uncertainties, many of which
are beyond the Company’s control, and cannot be predicted or
quantified and consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, without limitation, risks and
uncertainties associated with (i) market acceptance of our existing
and new products, (ii) delays in bringing products to key markets,
(iii) an inability to secure regulatory approvals for the ability
to sell our products in certain markets, (iv) intense competition
in the industry from much larger, multinational companies, (v)
product liability claims, (vi) product malfunctions, (vii) our
limited manufacturing capabilities and reliance on subcontractors
for assistance, (viii) our efforts to successfully obtain and
maintain intellectual property protection covering our products,
which may not be successful, (ix) our reliance on single suppliers
for certain product components, (x) the fact that we will need to
raise additional capital to meet our business requirements in the
future and that such capital raising may be costly, dilutive or
difficult to obtain and (xi) the fact that we conduct business in
multiple foreign jurisdictions, exposing us to foreign currency
exchange rate fluctuations, logistical and communications
challenges, burdens and costs of compliance with foreign laws and
political and economic instability in each jurisdiction. More
detailed information about the Company and the risk factors that
may affect the realization of forward looking statements is set
forth in the Company’s filings with the Securities and Exchange
Commission (“SEC”), including the Company’s Annual Report on Form
10-K and its Quarterly Reports on Form 10-Q. Investors and security
holders are urged to read these documents free of charge on the
SEC’s web site at http://www.sec.gov. The Company assumes no
obligation to publicly update or revise its forward-looking
statements as a result of new information, future events or
otherwise.
Investor Relations Contact: Andrew J. Barwicki
516-662-9461 Andrew@barwicki.com
Source: Toughbuilt Industries, Inc.
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