The hand tools maker has said it will shortly open its exclusive showrooms in Indore to strengthen its hold in tool distribution market in India.
"The plan is to target two industrial areas of Pithampur near Indore and Mndideep near Bhopal. Stanley also plans to facilitate Mhow, a key defence area in the state.
In a statement to BS, Kuldeep Bhardwaj, general manager said, "Madhya Pradesh is a very important market for us and we are aggressively targeting the upcoming automobile and pharmaceutical industry which is in a becoming stage."
He also said, Stanley tools are the most cost-effective, since they are made of highest quality product. The continuous and fast growth of the Indian manufacturing and automotive repair business made this proposition apparent to our customer.
Stanley is an S&P 500 company, and holds a record of continuous dividend payouts for 129 consecutive years.