IRVINE, Calif., Oct. 3, 2022 (GLOBE NEWSWIRE) — ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TBLT; TBLTW), today announced the launch of a new line of impact tools, including an innovative series of ShockStop™ hammers, marking its entry into the $3.5 billion global tool hammer market. in 20211.
The innovative ShockStop™ head design and extended ToughBuilt face are forged to hit safely and save users from pain, with reduced felt recoil that reduces fatigue after repeated hits and a greater concentration of mass in the head to maximize impact .
ToughBuilt Industries CEO Michael Panosian commented, “We are entering the growing hand tool segment with leading solutions that provide valuable efficiencies and remarkable quality that we believe will create expanded revenue opportunities.” Panosian continued, “We are pleased with how ShockStop™ technology will help expand our brand awareness and capture additional market share.”
1 GLOBAL TOOL HAMMER MARKET RESEARCH REPORT 2022 (STATUS AND OUTLOOK), via MarketWatch.com
ABOUT TOUGHBULT INDUSTRIES, INC:
ToughBuilt is a designer, manufacturer and distributor of advanced products with an emphasis on innovative products. Currently, we focus on tools and other accessories for the professional construction and DIY industry. We market and distribute several lines of home building and improvement products for both the DIY and professional markets under the TOUGHBUILT brand within the multi-billion dollar annual global tools market industry. All our products are designed by our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our current product line includes three main categories, with several additional categories in various stages of development, consisting of soft and knee products and horse and work products. Our mission is to provide the home building and home improvement communities with innovative products of superior quality derived in part from enlightened creativity for our end users, enhancing performance, enhancing well-being and creating high brand loyalty. Additional information about the company is available at: https://www.toughbuilt.com/.
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends”, “may”, “will”, “plans”, “expects”, “anticipates”, “projects”, “predicts”, “estimates”, “target”, “believes” . ,” “expectations,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and are not cannot be predicted or quantified and, accordingly, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the impact of the pandemic global impact of COVID-19 and government actions on our business, (ii) supply chain disruptions, (iii) market acceptance of new products, (iv) delays in delivering products to key markets, (v) the inability of obtaining regulatory approvals for the ability to sell our products in certain markets, (vi) intense competition in the much larger multinational company industry (v) product liability claims, (vii) product malfunction, (viii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (ix) our efforts to successfully obtain and maintain protection of the intellectual property covering our products, which may not be successful, (x) our reliance on single suppliers for certain product components, (xi) the fact that we will need to raise additional capital to meet our business needs in the future and that such collection may be costly, diluted or difficult to obtain and (xii) the fact that we conduct business in various foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and compliance costs of foreign laws and foreign policies. and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the making of forward-looking statements can be found in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its reports quarterly on Form 10-Q. Investors and security holders are encouraged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company undertakes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Investor Relations Contact:
KCSA Strategic Communications
Source: ToughBuilt Industries, Inc