HARTFORD, Conn., Dec. 5, 2017 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) today
announced plans to open an Advanced Manufacturing Center of
Excellence in downtown Hartford to
accelerate its global Industry 4.0 "smart factory" initiative.
Called "Manufactory 4.0," named after the original Stanley Bolt
Manufactory founded in 1843, the 23,000-square-foot Center will be
located at One Constitution Plaza and will employ approximately 50
Industry 4.0 professionals. The company has appointed Sudhi
Bangalore, most recently WIPRO's Global Head of Smart Manufacturing
and Industry 4.0 Solutions, to lead the center. The company is also
launching an additive manufacturing accelerator with Techstars that
will be housed at the new facility.
"Strong urban cores, and in particular a vibrant capital city,
are essential to Connecticut's
ability to thrive which is why we decided to locate this important
new initiative in Hartford," said
Stanley Black & Decker's
President and Chief Executive Officer Jim
Loree. "Our team has worked closely with Mayor Bronin's
office, and we are excited to be a part of building a vibrant,
strong capital city. With the budget now passed, the hard work can
begin to solve some of the state's structural fiscal challenges and
put the state on a more sound economical path. We cannot lose the
sense of urgency and must recognize that the state is at a critical
juncture. As a company founded in New
Britain, Connecticut, almost 175 years ago, we have
expressed our commitment from a social responsibility perspective
to being part of the solution."
"Our Manufactory 4.0 will serve as the epicenter for the latest
technologies and processes with respect to Industry 4.0," said
Don Allan, Chief Financial Officer
for Stanley Black & Decker.
"Just as Connecticut was at the
heart of the first three Industrial Revolutions and has continued
to have a strong manufacturing presence, we believe that the state
has the potential to be a leader for what is often called the
Fourth Industrial Revolution – the automation of manufacturing that
includes the internet of things, cloud computing, artificial
intelligence, 3-D printing, robotics and advanced materials. We are
thrilled that Sudhi has joined the company to lead this effort,
which is a critical component of our company's 22/22 strategy."
"Today's announcement further cements Stanley Black & Decker's reputation as a
leading innovator in advanced manufacturing, and a tremendous
partner to the State of
Connecticut," said Governor
Dannel P. Malloy. "The
Advanced Manufacturing Center of Excellence will be critical in
spurring innovation and ensuring that our state continues to build
upon our reputation as a global leader in advanced manufacturing.
We are grateful to CEO Jim Loree for
his partnership and extraordinary vision and commitment not only to
Stanley Black & Decker, but to
our capital city and the State of
Connecticut as a whole."
"I'm thrilled to welcome Stanley
Black & Decker's Advanced Manufacturing Center of
Excellence and Additive Manufacturing Accelerator to Hartford, putting Connecticut's Capital City at the leading edge
of innovation in advanced manufacturing," said Hartford Mayor Luke
Bronin. "Today's announcement represents an enormous
win in our effort to make Hartford
a hub for innovation in our region's core industries. I want to thank CEO Jim
Loree and Stanley Black &
Decker's senior leadership for their inspiring commitment to
reinventing manufacturing right here in Connecticut and right here in Connecticut's capital city."
Sudhi Bangalore will serve as Stanley
Black & Decker's Vice President of Industry 4.0,
reporting to Allan, and has a deep expertise in Industry 4.0 and
Digital Manufacturing. Leveraging a unique combination of
operations and technology background, he has served as an expert
advisor to shape and deploy Industry 4.0 strategies for several
global customers. Prior to serving in his current role at WIPRO, he
was the company's Global Practice Head for Industrial Automation.
He has held operations and business unit manager leadership roles
across a number of leading technology companies, including Danaher
Corporation, Siemens and Rockwell Automation. He earned a
Bachelor's in Electronic Engineering from Bangalore University, a Master's in Industrial
Engineering from the University of
Louisville and an M.B.A. from Kent
State University.
Stanley Black & Decker
currently operates approximately 30 manufacturing facilities in the
U.S., including three in Connecticut, with more than 100 manufacturing
facilities globally. The company has three locations designated as
"Lighthouse Factories," that have partially implemented Industry
4.0 across their facilities from manufacturing execution systems
(MES), to 3-D printing, virtual reality and artificial
intelligence.
In addition, to support and accelerate innovation in Industry
4.0, the company has made a three-year commitment to partnering
with Techstars, one of the world's best startup accelerators, and
is announcing the launch of the STANLEY+Techstars Additive
Manufacturing Accelerator. The mentorship-driven, entrepreneurial
accelerator program will identify 10 startups in the additive
manufacturing space to participate in the program in the program's
first year. Companies will co-locate with Manufactory 4.0 and have
access to mentoring and resources to grow their ideas into viable
businesses, and bring new technologies to market. Additive
manufacturing refers to 3-D printing and the collection of
technologies that are used throughout the process, including those
involved in rapid prototyping, rapid manufacturing and free form
fabrication, among others. The application process will begin in
January 2018. Similar programs will
be run in 2019 and 2020, with 30 potential startups completing the
process.
"Additive manufacturing is a field that is constantly evolving
and will significantly change the manufacturing environment of the
future," said Corbin Walburger, Vice
President of Business Development for Stanley Black & Decker. "The
STANLEY+Techstars Additive Manufacturing Accelerator demonstrates
our commitment to this emerging industry, and shows our intent to
stay at the forefront of technological change and incorporate
another example of innovative and disruptive technologies into our
business model."
About Stanley Black &
Decker
Stanley Black & Decker, an
S&P 500 and FORTUNE 500 company, is the world's leading
provider of tools and storage, the world's second-largest
commercial electronic security company, and a leading engineered
fastening systems provider, with unique growth platforms in the Oil
& Gas and Infrastructure industries. Well-known brands include:
STANLEY, BLACK+DECKER, DEWALT, Porter-Cable, Bostitch, Facom,
Mac Tools, Proto, Vidmar, Lista and
more. Learn more at www.stanleyblackanddecker.com.
Media Contacts:
Shannon Lapierre
Vice President, Communications
Stanley Black & Decker
Phone: 860-259-7669
Email: Shannon.Lapierre@sbdinc.com
Tim Perra
Vice President, Public Affairs
Stanley Black & Decker
Phone: 860-826-3260
Email: Tim.Perra@sbdinc.com
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SOURCE Stanley Black &
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