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Stanley Black & Decker announced Tuesday it was shutting down its Russian business, as it “stands in solidarity with the people of Ukraine.” PMI said Wednesday that it activated plans to scale down its manufacturing in Russia “amid ongoing supply chain disruptions and the evolving regulatory environment.” PMI also said it was suspending planned investments in the country, including all new product launches and commercial, innovation and manufacturing investments.
“We have watched with shock the war in Ukraine and condemn the violence in the strongest possible terms. We stand in solidarity with the innocent men, women and children who are suffering,” PMI Chief Executive Officer Jacek Olczak said in a statement. “We join the many voices calling for an immediate end to the war and the restoration of peace.”
In 2021, Russia accounted for nearly 10 percent of PMI’s shipments of cigarette and heated tobacco sticks and around 6 percent of its net revenues.
PMI said it would continue to pay the salaries of its more than 3,200 employees in Russia. The No. 101 company in the 2021 Fortune 500 opened its first “representative office” in the country in 1992.
Stanley Black & Decker, No. 209 on last year’s Fortune list, did not specify in its announcement its Russia-based revenues, its number of Russia-based workers or how its shutdown in the country would affect them. Not including France, it recorded nearly $3 billion in European net sales in 2021, or 18 percent of its total.
At the same time, the companies announced support for humanitarian relief in Ukraine that includes a $10 million pledge from PMI and Stanley Black & Decker donating a total of $1 million to several nonprofits.
Approximately 300 major companies have reduced their presence in Russia since its invasion of Ukraine, according to an online tracker maintained by Yale School of Management. Other companies that are headquartered or have major operations in Connecticut that have scaled down their presence in the country include Booking Holdings, WWE, Diageo and Henkel.
When the tracker was launched on Monday, PMI was among about 30 companies that Yale said at that point remained in Russia “with significant exposure.”
Farmington-based elevator, escalator and moving-walkway maker Otis Worldwide was among the other Connecticut companies that apparently remained in Russia as of Wednesday. The company has “joint ventures and partnerships” in the country, according to the Yale tracker.
Officials at Otis, the No. 236 company on the Fortune list, were not immediately available to comment Wednesday about their presence in Russia.
Subway, the Milford-headquartered fast-food giant, also still appears to be doing business in Russia. In a statement Wednesday, the company said it would redirect profits from Russian operations to support humanitarian relief for Ukrainians, but it did not indicate that any of its 446 restaurants in Russia would close.
What can I say… Be prepared to be shocked by this little cordless nail gun. It fires the thinnest 23g brads I’ve ever seen from 15-35mm and leave the smallest puncture in timber you can possibly imagine. Let’s talk about the gun itself. It feels great in the hand and well balanced with a battery attached. It certainly does not feel heavy at all.
It has the Makita clip so it can go on a holster – that’s fine if you need the freedom but I don’t like the weight around my belt, there’s plenty of weight there already 😀 I like the safety features too. You cannot shoot without having the ‘lock mechanism’ set to fire as well as the front of the nailer (the nose) pushed in and engaged. It is practically impossible to misfire so it’s a big thumbs up on safety but I would say with one little niggle. They have tried to hide the lock so you can’t accidentally catch it and disengage to a live position. This is great until you need to lock or unlock it. My fingers are a bit big to get in there. I suppose this isn’t really a point of complaint, more a point of how seriously they are taking misfires and your safety so hard to complain.
Here’s a look at the locking mechanism, as you can see it’s tucked away where you’re least likely to knock it either way by accident:
Trigger lock tucked away from fingers and very difficult to press by accident – top notch safety from Makita as you’d expect from them
Talking performance I very much doubt this nail gun had to be 18v as the brads are so slender but the result is you can use this pin gun with a 4 or 5 amp battery literally all day and barely knock a bar off when you check your power gauge. The pin gun fires very quickly, if you need but I rarely found myself doing anything too rushed because the sheer amount of time I saved nailing made accuracy even easier to achieve with joints.
I love the reload mechanism too. You simply release the clip in the picture below, insert the brads with the triangles conveniently showing you which way round (given the brads are headless you need that help) as you can see in the picture below:
Mechanism to reload your headless pins is a simple but sturdy clip – notice the arrows to help you place pins the right way round
They give you the Allen key in the event of a jamb which is neatly stored on the side of the gun itself. Brian reliably informs me that he has never had a jam on this little pin gun so no need to open it up, not even for a clean up and he has had this one for 6 months or so. He did however mention the odd pin will curl up and do random things based on the knotty timber – so always wear your goggles. I have to say when I fired it I was really impressed by the power and accuracy. The live of engineering to accurately fire one little pin off at a time is really impressive. Here’s a look at this gun in action – a short video of the Makita DPT353Z Pin Nailer
Let’s assume you are looking to do some skirtings, architraves, some glazing bead, or any of the lighter second fix jobs you will not be disappointed by this gun. As you can see softwood or hardwood the pins disappear leaving only the tiniest mark as a trace. So it won’t matter what material you are firing it, you’ll finish cleanly. For something heavier the requires more hold like a window board I would look to the 18gauge range which we will review next.
Overall this is very impressive to use and work with. I am definitely adding this to my range of Makita cordless tools such as the cordless lawn mower, cordless brush cutter, pole hedge trimmer, and of course the ultimate cordless chainsaw I have too. Once you have Makita batteries the whole game opens up. The bare tools are superb professional standard equipment at sensible prices affordable at home. You can do work to a professional standard too, the tools make a job that much easier I can assure you. As Best cordless nail guns in the UK go, for a 23 gauge this is my top pick.
Vid of firing straight down the line.
At the same time I wanted to show you how easily this gun pumps 40mm 18 gauge brads into hardwood. The gun reloads itself much slower than the smaller pin gun but that is to be expected as it has to wind itself up to fire. What I did notice when using it all day was the occasional misfire. It would make all the noises but not let go of a brad – every time this happened to me was when I was testing the speed. It clearly needs a chance to wind up so don’t rush it – no nee when it’s twenty times faster than a hammer and panel pins already and leaves far less damage on the timber. If you look closely this finish is a decorators dream, most will fill that with a dab of caulk, if that.
To hold it’s far heavier, it feels more powerful as it punches in nails too. There’s very little in the way of recoil and we didn’t have a jam all day using it though Brian mentioned in the 18 months he had this, he did experience one jam and this came from the last couple of pins not firing/aligning properly. It was a case of using the hex bit provided and removing the offending brads. Straight back to work five minutes later.
Once I started thinking out the box I realised this is a superb bit of kit to hold fence panels together. I duly cut one down and rebuilt it with this pin gun. Have to say it beat a hammer and nails all day long. Very neat and tidy indeed:
You can barely see the holes after painting – absolutely no filling at all here.
I wish I had this for weatherboard on my shed – the time it would have saved, oh well hindsight and all that – another superb use I could get in was garden gates – look how neatly it finished the braces:
SWK, Financial) released its fourth quarter 2021 financial results earlier this week and disclosed plans for a $4 billion share repurchase program over the coming months.
Net sales for the fourth quarter were $4.1 billion, up 2% versus the prior year, the company reported, as price (+5%) and acquisitions (+6%) were partially offset by lower volume (-8%) and currency (-1%). Volume was impacted by a series of logistical and other supply chain challenges.
For all of 2021, revenues for the global tool maker totaled $15.6 billion, a leap of 19.6% over the previous year. Strong consumer demand fueled record full year organic revenue growth of 17% and 30% adjusted diluted EPS expansion.
Executives also announced a roughly $4 billion share repurchase program coming during 2022, with $2 billion to $2.5 billion of it expected to take place during the first quarter.
Stanley Black & Decker delivered record revenue and earnings growth in 2021, supported by robust customer demand and its growing portfolio of product innovations. CEO Jim Loree said, “We completed 2021 with a series of strategic transactions that focused our core business, including establishing Stanley Black & Decker as a global leader in the $25 billion outdoor power equipment market as well as announcing the pending sale of our electronic security business.” Those actions, he noted, strengthened the firm’s number one position in tools.
Loree added, “While we continued to navigate an extremely dynamic supply chain and inflationary environment as the year progressed, we are focused on even stronger day-to-day operational execution, inventory management and pricing realization.”
Most importantly, the CEO explained, Stanley Black & Decker is leveraging key investments in product innovation, strategic growth initiatives as well as capacity expansions to better serve customers who are experiencing unprecedented demand. He emphasized that the company is well positioned with a more focused portfolio that provides it with a “compelling multi-year runway” for growth, margin expansion and long-term shareholder value creation.
Donald Allan Jr., President and chief financial officer, added in a statement that during 2021, Stanley Black & Decker delivered 17% organic revenue growth with operating profit expansion and 30% adjusted earnings per share growth. “While we were not satisfied with the fourth quarter volume and cash flow performance driven by the constrained and congested supply chain, we are confident in the steps we have taken and are continuing to take.”
By year’s end, the company had implemented price increases to mitigate inflationary impacts while improving efficiencies and investing in expanded capacity to support the continued growth projected for 2022 and beyond.
Looking ahead, Stanley Black & Decker’s management team remains focused on driving above-market organic growth, delivering on their price and cost control measures, successfully integrating MTD and Excel into the portfolio and leveraging the SBD Operating Model to improve working capital efficiency. It expects that these actions, as well as the $4 billion allocation to repurchase shares, will deliver total revenue growth in the mid-twenties range, in addition to 15% to 19% adjusted earnings per share growth.
Despite high growth goals, maintaining margins may continue to be a concern. Inflationary pressures and supply chain issues have taken a toll on margins, and it’s not yet clear how well the company will be able to manage this going forward.
Today’s best Black + Decker 8 Cup Food Processor FP1600B deals
Black + Decker 8 Cup Food Processor: Specs
Dimensions: 11.26 x 7.8 x 15.67 inches Weight: 5.3 pounds Capacity: 8 cups Controls: Button Modes: On, Off/Pulse Smart features: None Output: 450 watts Warranty: 2 year limited warranty
The Black + Decker 8 Cup Food Processor is an economically priced machine that makes for a good entry-level choice for anyone looking to buy their first food processor. It features a compact and lightweight design, and with just one power setting, it’s simple to use. On test, this food processor easily sliced carrots and mixed dough, so it offers good value and can help with many food preparation needs.
The blade is a little tricky to remove, as you will read in our Black + Decker 8 Cup Food Processor review. However, it’s still one of the best food processors for its overall design and affordability.
Black + Decker 8 Cup Food Processor review: Price and availability
The Black + Decker 8 Cup Food Processor is available at Walmart for $42.25. It’s offered in a black finish and is backed by a two-year limited warranty.
Black + Decker 8 Cup Food Processor review: Design
The Black + Decker 8 Cup Food Processor features a modern, compact design, measuring 11.26 x 7.8 x 15.67 inches. Weighing just 5.3 pounds, it’s easy to pick up and pack away when not in use. It comes with suction cup feet designed to secure it to the counter, but in our tests, those suction cups didn’t adhere, even when moistened. As a result, this food processor moved slightly during some of our heavier tests, like mixing cookie dough.
This machine features a simplistic design, which has its advantages. It’s full of rounded edges and curves, so it’s easy to wipe the base down. With just an On and Off/Pulse button, operation is easy, and while the manual does provide detailed instructions, the machine is intuitive to use.
That simple design also has its downsides. Two barge buttons are easy to operate, but the machine has only one speed. It’s equipped with a 450-watt motor and handled most of our tests well, but aside from a pulse option, there’s no way to adjust the power when needed.
The included accessories are basic and limited. The machine comes with a stainless steel chopping blade and a reversible slicing and shredding disc. There is no way to adjust the slice or grate thickness. The addition of a dough blade and multiple or adjustable thickness slicing blades would be helpful.
Black + Decker 8 Cup Food Processor review: Performance
This food processor performed decently during our testing, but some tests went better than others. It easily sliced both a potato and a carrot, but its small feed chute meant that we had to quarter the russet potato. The machine sliced the potato in 10 seconds, and it sliced the carrot in six seconds. The process was easy and the slice thickness was consistent.
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(Image credit: Tom’s Guide)
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(Image credit: Tom’s Guide)
Grating cheese went equally smoothly. The machine quickly grated a ⅓-pound block of cheddar cheese in just eight seconds. The cheese was grated consistently.
While the machine doesn’t have a dough blade, the chopping blade mixed cookie dough well and thoroughly. The machine never strained, even when we added in the flour, and the dough fitted into the eight-cup bowl.
We also tested the machine by chopping an onion. The process took seven seconds, and while the resulting pieces were mostly consistent, there were a few larger chunks remaining.
This food processor struggled when we tested it by pureeing hummus. The process took significantly longer than other machines, and though we let the food processor run for eight minutes, the puree never truly became smooth. This is one instance where the option to increase the machine’s power would likely have been helpful.
The machine reached 91.5 dBA, making it one of the louder food processors that we tested. The loudest machine, the Hamilton Beach Bowl Scraper 10 Cup, reached 93.9 dBA. The quietest, the Cuisinart 14 Cup Custom Food Processor, reached just 65.2 dBA.
Black + Decker 8 Cup Food Processor review: Ease of use and cleaning
While other food processors may have more options, accessories, and controls, this machine’s simpler design made it easy to use. We could have used it without reading the directions, making it an appealing choice for anyone who is shopping for their first food processor.
The machine’s rounded design and curves make it easy to clean. There aren’t any crevices or dirt traps, and it’s easy to remove the bowl from the base. The lid is also easy to attach and remove — it aligns naturally and requires minimal strength to lock on and loosen. All of the removable parts are dishwasher safe.
We did discover that one design feature makes cleaning the bowl and blade difficult. The blade locks onto the spindle, and it’s difficult to remove. This was made even more difficult after we mixed cookie dough — there was no way to effectively grip and remove the blade.
This design has a purpose; it helps to keep you from accidentally pulling off the blade when you’re using a spatula to empty the bowl. Unfortunately, it made it so difficult to remove the blade that we had to fill the bowl with hot water and partially wash it by hand before we were able to get enough grip to remove the blade. This poses a safety issue and added time onto the cleaning process.
Black + Decker 8 Cup Food Processor review: Verdict
At less than $50, the Black + Decker 8 Cup Food Processor is economically priced. It lacks some of the functionality of other models, particularly in terms of the number of accessories and variable power settings, but that simple design also makes the machine easy to use.
The food processor performed well in most of our tests, including slicing and mixing dough. It underperformed when pureeing hummus, but overall is still a well-rounded machine that can handle lighter food preparation tasks.
While the locking feature of the blade does make for difficult removal, this food processor offers decent value for money. Compared to our winner, the Magimix Food Processor 14 Cup, this model from Black + Decker isn’t as versatile or as consistent in its performance, however it is about eight times cheaper, so you have to pay for the difference.
If you’re looking for a food processor that includes more accessories, consider the Ninja Professional Food Processor, which includes a crinkle cut disc, grating disc, reversible slicing and shredding disc, chopping blade, dough blade, disc storage case, and a recipe booklet.