ToughBuilt Industries Inc. Launches a Comprehensive Line of Innovative Striking Tools
October 03 2022 - 8:30AM
ToughBuilt Industries, Inc. ("ToughBuilt") (NASDAQ: TBLT;
TBLTW), has announced today the launch of an all-new line
of striking tools, including an innovative series of ShockStop™
hammers, marking their entry into the global tool-hammer market,
which was valued at $3.5 billion. in 20211.
ToughBuilt’s innovative ShockStop™ head design and enlarged face
are forged to strike sure and save users from pain, with a reduced
felt recoil that diminishes fatigue after repeated striking and a
greater mass concentration at the head to maximize impact.
ToughBuilt Industries’ CEO, Michael Panosian, commented, "We are
entering the growing hand tool segment with leading solutions that
provide valuable efficiencies and remarkable quality which we
believe will create expanded opportunities to generate revenue.”
Panosian continued, "We are pleased with how ShockStop™ technology
will help expand our brand awareness and capture additional market
share.”
1 GLOBAL TOOL HAMMER MARKET RESEARCH REPORT 2022 (STATUS AND
OUTLOOK), via MarketWatch.com
ABOUT TOUGHBUILT INDUSTRIES,
INC: ToughBuilt is an advanced product design,
manufacturer and distributor with emphasis on innovative products.
Currently, we are 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 STATEMENTSThis 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) the impact of the worldwide COVID-19 pandemic
and government actions, on our business, (ii) supply chain
disruptions, (iii) market acceptance of our existing and new
products, (iv) delays in bringing products to key markets, (v) an
inability to secure regulatory approvals for the ability to sell
our products in certain markets, (vi) intense competition in the
industry from much larger, multinational companies, (v) product
liability claims, (vii) product malfunctions, (viii) our limited
manufacturing capabilities and reliance on subcontractors for
assistance, (ix) our efforts to successfully obtain and maintain
intellectual property protection covering our products, which may
not be successful, (x) our reliance on single suppliers for certain
product components, (xi) 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 (xii) 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:KCSA Strategic
CommunicationsDavid Hanovertoughbuilt@kcsa.com
Source: ToughBuilt Industries, Inc
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