Horst Julius Pudwill began visiting Asia in the mid-1970s as a sales and marketing representative promoting Volkswagen vehicles. In 1985, with business partner Roy Chung Chi-ping he established Techtronic Industries Co Ltd, (TTI) which began life with six employees.

The 56-year-old chairman and chief executive officer explains
how Hong Kong has played an important role in the growth
and success of his company.

“Hong Kong is one of the few places in the world where you can set your goals high and with hard work achieve them. Realistically, you only get back from business what you put into it and Hong Kong provides the environment where this is allowed to happen.

Travel and meeting people are important to learning the mechanics of doing business. When I first came from Germany and visited Hong Kong I saw and felt vibrancy and vitality that remains strong today. Hong Kong offers all the important fundamentals for operating a business, which include personal and financial security, an evenhanded and understandable tax system, superb communications, accessible banking facilities and, most importantly, a minimum of bureaucratic interference.

Since the day we began operations our business has never lost money. I attribute this largely to the fact we are based in Hong Kong, where we can focus on what we are trying to achieve with very few distractions.

Our first major landmark took place in 1990 when TTI was listed on the Hong Kong Stock Exchange and we managed a turnover of HK$490 million (US$63 million) in that year.

Over the past decade we have transformed the company from the world’s largest original equipment manufacturer (OEM) of cordless power tools for some of the best-known names in the industry, to an own brand manufacturer.

A crowning moment arrived in August 2000 when we completed the purchase of North American power tool operations previously owned by Japan-based Ryobi Limited. The purchase has expanded our power tool business beyond its existing private label and OEM business, and into consumer brand channels. It also significantly expands our North American distribution.

When we acquired Ryobi it was a loss-making company but within five months it had been successfully turned around and was posting a profit. We did this by transferring the production to our own plants to Dongguan in the Chinese mainland. We are also able to call on our talented team of 300 research and development professionals based in Hong Kong and the mainland. We believe that none of our competitors can match us and it is thanks to Hong Kong that we are able to invest in these vital resources.

TTI follows the simple philosophy of providing high value products through solid partnerships with volume purchasers around the world. Consistent performance has enabled us to achieve five consecutive years of double-digit growth.

Our company has received a Sears Partner-in-Progress Award for 12 consecutive years, an award judged on quality, delivery and cost. With Hong Kong as our home we are confident of the future of the group's power tool business, and expect our positive growth to continue as we broaden our customer base and enhance our global market share in the electric power tool market over the next decade.”