Techtronic Industries, a Hong Kong-based global power equipment and floor care company, aims to double sales in five years in a recovering US economy.
"Encouraging signs of demand in the US new residential construction sector and the oil, gas and energy industry signal a rebound in the US economy and will drive the development of infrastructure," Techtronic chief executive Joseph Galli said.
The firm yesterday announced record sales and profits for last year.
Group sales for the year rose 5.1 per cent to US$3.9 billion, while net profit jumped 32.2 per cent to US$201 million from US$152 million in 2011.
The United States contributes most of the company's sales, with about 70 per cent of revenue coming from North America.
"Customers love our products because they work better and last longer," Galli said. Techtronic's products include AEG and Ryobi power tools and Hoover vacuum cleaners.
