Techtronic: from small-time tool maker to powerful global leader
Co-founder and chairman Horst Julius Pudwill – this year’s DHL/SCMP Business Person of the Year – reveals how he turned the manufacturer started in 1985, into a business worth $1.45 billion today
German-born Horst Julius Pudwill arrived in Hong Kong in 1971 – and never left.
“I liked Hong Kong instantly, it was a vibrant city, even at that time,” the founder of Techtronic Industries (TTI) tells the Post from his spacious Wan Chai office, decorated with art from around the world, including a piece by American artist Andy Warhol.
“Hong Kong is relatively as it was; everything is vibrant and fast.”
Now 71, Pudwill knows all about speed. His power tool company has been growing fast, hitting sales and profit records for six years in a row.
When he started TTI in 1985, he planned it to be an original equipment manufacturer of battery-operated power tools, which were very new at that time.
But after landing a growing number of high-profile clients and acquisitions – including well-known household brands Hoover, Milwaukee and Ryobi – the company has mushroomed at an average of 35.5 per cent annually, into one of the biggest power tool manufacturers in the world, with 20,000 staff and customers all around the globe.
Pudwill’s personal fortune has grown too. He’s now worth $1.45 billion and is the 1,275th richest in the world and the 40th richest man in Hong Kong, according to Forbes’ 2016 billionaires list.
