Here is the Rigid story.

Emerson Professional Tools & One World Technologies to Partner on RIDGID?
Power Tool Line
Agreement to Build On 80 Years of RIDGID Brand Heritage
ST. LOUIS, MO, July 1, 2003 ? Emerson Professional Tools, a business of
Emerson (NYSE: EMR), today announced efforts to enhance the manufacturing
and marketing of Emerson?s RIDGID? brand bench top and stationary
woodworking power tool products. Under the agreement, One World Technologies
(OWT), a wholly owned subsidiary of TechTronic Industries Company Limited
(TTI) (HKEx stock code 669; ADR symbol TTNDY), will supply these RIDGID?
brand tools, leveraging the strengths from each organization in engineering
and quality manufacturing.
The tools will be built to meet the high standards established by Emerson
that customers have come to expect from the RIDGID brand name ? hallmarks
such as reliability, durability, best-in-class manufacturing,
industry-leading design and professional quality.
?This new partnership and business model will further enhance an innovative
line of power tools that already has the respect of end users everywhere,?
said Pat Sly, Emerson executive vice president and Emerson Professional
Tools business leader. ?RIDGID tools have long been recognized as superior
products within the industry, and this agreement will strengthen that
position.?
The Home Depot is and will remain the exclusive hardware home center
retailer of RIDGID bench and stationary woodworking power tools, as well as
wet/dry vacs, hand tools, pumps and plumbing/pipefitting tools.
With a well-established reputation in the power tool industry, OWT will
leverage its record of innovation, product development and leading
capabilities in manufacturing logistics and distribution. Strict adherence
to RIDGID quality standards will be maintained as the companies transition
production.
?This is quite an honor for One World Technologies to manufacture these
bench top and stationary tools,? said Bob Freitag, Executive Vice President
of OWT. ?In fact, the new line will include improved features and benefits
consistent with RIDGID?s reputation for meeting and exceeding the needs of
professional contractors. This is a win-win for all parties, and we?re
excited to help ensure that the RIDGID brand continues to be a success for
The Home Depot,? Freitag continued.
Tool users can expect the new line of bench top and stationary power tools
from the partnership to begin appearing in The Home Depot stores this
August.
Emerson will continue support the full RIDGID line and will remain a
significant manufacturer of RIDGID wet/dry vacuums, hand tools, and other
products for The Home Depot.
The new partnership also impacts technical and after-sales service for the
bench top and stationary woodworking power tools. RIDGID has always enjoyed
an excellent reputation for service, and this agreement will expand and
improve performance in that area. New services include nationwide two-day
UPS part service for faster turn-around, triple the number of available
local service centers, and a dedicated, full-time staff to answer technical
woodworking tool-related questions.
As always, customers can call 1-800-4-RIDGID (1-800-474-3443) to speak with
a RIDGID technical representative and obtain service part ordering
information or visit www.ridgid.com. An additional tool free number,
1-866-539-1710, is also available to further facilitate customer inquiries.
Emerson Professional Tools brings together technology and engineering to
design and produce some of the highest quality tools and equipment in the
world. From wet/dry vacs to the industry?s best-selling pipe diagnostic
system, key brands include RIDGID, Knaack, and Weatherguard. Emerson
Professional Tools is a business of St. Louis-based Emerson
(www.gotoemerson.com), a global leader in providing innovative solutions to
customers in electronics and telecommunications; process control; industrial
automation; heating, ventilating and air conditioning; and appliance and
tools. Sales in fiscal 2002 were $13.8 billion.
Founded in 1985, TTI is one of the largest and fastest growing manufacturers
of professional and do-it-yourself home improvement products. The company
manufactures power tools, gas and cordless outdoor power equipment and floor
care products such as vacuums and deep cleaning extractors. The products
manufactured by TTI are sold under its own industry leading brands and under
other internationally recognizable brand names under an OEM basis. The
company employs over 12,000 employees worldwide. The company has enjoyed
continuous growth since its listing on the Hong Kong Stock Exchange in 1990,
achieving double-digit growth for the past eight years.

DB

Dave Balderstone