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IRVINE, Calif. , Sept. 29, 2022 (GLOBE NEWSWIRE) — Today, ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TBLT; TBLTW) — announced primary extensions to its UK store network, confirming extensive new and expanding agreements with Huws Gray, Selco Builders Warehouse, MKM, City Electrical Factors and Carpet
Huws Gray is the UK’s largest distributor of independent manufacturers. Provides fabrics to users of professional and DIY finishes, operates more than three hundred stores than the industry under other brands, adding Huws Gray, Buildbase, The Timber Group, Civil
In addition, ToughBuilt is home to Selco Builder’s Warehouse, the UK’s fastest developing structure distributor, which distributes to structural professionals across the country with a network of over 73 outlets expected to be successful in a hundred locations by the end of 2026. In addition to MKM, a supplier of building materials, wood and plumbing with more than 90 branches in England, Scotland and Wales, and Carpet
ToughBuilt is excited to be working with City Electrical Factors (CEF), the UK’s leading network of electric power wholesalers. Starting with a singles parade in Coventry in 1951, CEF has grown to over 400 venues across the country.
ToughBuilt CEO Michael Panosian said: “ToughBuilt is being developed in the UK and we are very pleased to expand our distribution network to almost 900 storefronts across the UK. We are confident that this building presence in the country will continue to build our truly extensive market share and publicize the ongoing awareness of our brand’s commitment to amazing products.
ABOUT TOUGHBUILT INDUSTRIES, INC. : ToughBuilt is a leading designer, manufacturer and distributor of products with a focus on cutting-edge products. Currently, we concentrate on equipment and other accessories for the professional structures and DIY industries. Improvement and structure products for the professional and DIY markets under the TOUGHBUILT brand, within the multi-billion dollar global tool market industry. All our products are designed through our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our existing product diversity consists of 3 main categories, with several additional categories in development stages, consisting of soft products.
FORWARD-LOOKING STATEMENTS This press release comprises “forward-looking statements. ” Such statements would possibly be preceded by the words “intends”, “possibly”, “will”, “plans”, “expects”, “anticipates”, “projects”, “predicts”, “estimates”. , “believe”. ‘, ‘hope’, ‘potential’ or similar words. Forward-looking statements are not promises of long-term performance, are based on safe assumptions and are subject to various known and unknown threats and uncertainties, many of which are beyond the control of the Company and cannot be predicted or quantified and, therefore, Therefore, actual effects may differ materially from those expressed or implied by such forward-looking statements. These threats and uncertainties include, but are not limited to, threats and uncertainties related to (i) the effect of the global COVID-19 pandemic and government movements on our business, (ii) supply chain disruptions. source, (iii) market acceptance of our new products, (iv) delays in product arrival in key markets, (v) difficulty in downloading regulatory approvals for the ability to sell our products in certain markets, (vi) festival of the industry of many larger multinational corporations, (v) product liskill claims, (vii) product malfunctions, (viii) our production function limitations and our reliance on subcontractors for support, (ix) our efforts to effectively offload and maintain intellectual asset coverage covering our products, which may not be successful, (x) our reliance on sole vendors for certain product components, (xi) the fact that we will want to raise more capital to meet our long-term business desires and that such raising of capital may be costly, dilutive or difficult to discharge and ( xii) the fact that we operate in multiple foreign jurisdictions, exposing ourselves to currency exchange rate fluctuations, logistical and communication challenges, the burdens and burdens of complying with foreign laws and policies, and the economic institutions in each of the jurisdictions. More detailed data about the Company and the threat points that may also only make forward-looking statements are set forth in the Company’s filings with the Securities and Exchange Commission (SEC), adding the Company’s annual report on Form 10 -K and his quarterly reports. on Form 10-Q. Investors and security holders are encouraged to read these no-rate webs on the SEC’s online page at http://www. sec. gov. The Company assumes no legal responsibility to publicly update or revise its forward-looking statements as a result of new data, long-term events or otherwise.
Investor Relations Contact: KCSADavid Strategic Communications Hanovertoughbuilt@kcsa. com
Source: ToughBuilt Industries, Inc.