SIC 3423 Hand and Edge Tools, Except Machine Tools and Handsaws

Contenidos

• NAICS CODE(S).
• FURTHER READING.

SIC 3423

Firms in this industry manufacture simple, edged hand-tools such as files, axes, chisels, prying bars, rulers, soldering irons, tongs, rakes, and cutters for metalworking, woodworking, and general maintenance. Saws and saw blades are discussed in SIC 3425: Saw Blades and Handsaws, while metal-cutting dies and power-driven hand tools, attachments, and accessories appear under the major group for industrial and commercial machinery and computer equipment.

NAICS CODE(S)

332212

Hand and Edge Tool Manufacturing

According to the U.S. Census Bureau, fewer than 1,000 establishments operate in this category. Industry-wide employment totaled 53,345 workers receiving a payroll of more than $1.8 billion in 2000; 39,106 of these employees worked in production, putting in almost 75 million hours to earn wages of more than $1.11 billion. Overall shipments for the industry were valued at over $5.7 billion in 2001, falling to $5.45 billion in 2005.

After 2001, the U.S. Census Bureau combined the hand and edge tools industry with another category for the purpose of tracking employment, to form the larger category of Hand Tool and Saw Blade Manufacturing. Industry-wide employment in this larger category was 44,271 workers in 2004, which was down from 51,603 in 2002, with employees receiving a payroll of $1.7 billion. Of these employees, 31,758 worked in production, putting in more than 63 million hours to earn total wages of $1 billion.

Danaher Corp., based in Washington D.C., led the industry with 2005 sales of more than $7.9 billion. Houston, Texas-based Cooper Industries Ltd. followed with 2005 sales of $4.7 billion. Rounding out the top three industry leaders was Stanley Works of New Britain, Connecticut, with more than $839 million in 2005 sales generated by 13,500 employees. Using stereolithographic models from CAD drawings and infrared photography, Stanley had introduced a new line of tools with ergonomically redesigned handles in mid-1999. Other industry leaders included SPX Corp. of Charlotte, North Carolina, with sales of $5 billion and 22,200 employees in 2003; Snap-On Inc. of Pleasant Prairie, Wisconsin, with 2003 sales of $2.2 billion and 12,400 workers; and Toro Co. of Bloomington, Minnesota, with 2003 sales of $1.4 billion and 4,944 workers.

The hand and edge tool manufacturing industry provides basic hand tools for both domestic and professional use. According to the U.S. Census Bureau...