CLEVELAND OH— A Hong Kong-based Techtronic Industries Co. Ltd. (TTI) will complete its $107 million acquisition of The Hoover Company Wednesday, creating the largest floor care business in North America, according to a press release posted on Yahoo! Business.
TTI will combine the Hoover business with its existing Dirt Devil and Royal operations under TTI Floor Care, North America, headed by Chris Gurreri, the story stated.
TTI will also create a new global floor care product research and development center at its North American headquarters in Glenwillow, OH, the story noted.
I wonder how this will turn out. I know that Hoover moved there manufacturing warehouse to Mexico in 2005-2006 and getting parts was a challenge.
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