ToughBuilt Opens UK-Based European Headquarters
October 16 2019 - 9:00AM
ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TBLT; TBLTW;
TBLTU), a leading designer, manufacturer and distributor of
innovative tools and accessories for the building industry, today
announced the opening of an international headquarters in London,
England, UK. The London office will be the base of European
operationes and will service the Company’s growing sales in the UK
and Continental Europe.
Chief Executive Officer Michael Panosian said,
“In response to our growing sales and demand in Europe which
started last spring with our announced work with Screwfix (UK),
Toolbank (UK) and Amazon European initiatives, we have established
this base of operations to better serve these markets.
We continue to hit our milestones and are looking forward to
increasing sales, building more brand recognition and augmenting
value for our shareholders.”
About ToughBuilt Industries, Inc.
ToughBuilt is a designer, manufacturer and
distributor of innovative tools and accessories to the building
industry. 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:
Amato and Partners, LLCInvestor Relations
Counseladmin@amatoandpartners.com
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