The Bittersweet Legacy of a Tool Giant: When Innovation Fails to Adapt The news that Stanley Black & Decker Inc. , a 183 year old giant in the tool industry, is closing its Hampstead, Md.
, factory and laying off 55 workers has sent shockwaves through the manufacturing community.
This decision appears to be another example of a struggling retail sector cutting costs by shutting underperforming stores or facilities. A Legacy Built on Innovation Founded in 1843 by Frederick T.