NEW BRITAIN, Conn. and KINGSPORT, Tenn., Oct. 14, 2021 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) and specialty materials provider Eastman (NYSE: EMN) are teaming up to advance sustainability in the power tools industry. BLACK+DECKER, a Stanley Black & Decker brand, will be releasing a new product line, reviva, offering the brand's first sustainability-led power tools that utilize Eastman's Tritan Renew copolyester. With 50% certified recycled content in the enclosures,* the BLACK+DECKER reviva line will launch in early 2022.
"At Stanley Black & Decker, we work to inspire makers and innovators to create a more sustainable world, and that effort starts with us," said Stanley Black & Decker CEO Jim Loree. "The BLACK+DECKER reviva line is our latest step in creating more sustainable products and driving innovation with purpose, in alignment with our Environment, Social & Governance (ESG) strategy and helping to achieve the United Nations Sustainable Development Goals. Every day, we aim to live our purpose – For Those Who Make The World – and elevate our commitment to corporate social responsibility, and creating new eco-friendly products is one way of achieving that mission."
Engineered in partnership with Eastman, new reviva power tools will be manufactured using Tritan Renew material produced through Advanced Circular Recycling, also known as molecular recycling. Unlike mechanical recycling, molecular recycling transforms single-use waste plastic into basic building blocks that are then used to make durable, high-performance materials. This process reduces the use of fossil-based resources and lowers greenhouse gas emissions while providing the performance of virgin plastic materials and environmental benefits of 50% recycled content. In addition to sustainably engineered material in this new product line, reviva packaging will be frustration-free and 100% recyclable. Stanley Black & Decker is also creating and implementing programs for battery and end-of-life tool recycling.
"Stanley Black & Decker is an iconic company known for quality and reliability in each of their brands," said Steve Crawford, executive vice president, chief technology and sustainability officer for Eastman. "Consumers trust their products because they know they will perform, so Eastman is excited to partner and leverage our molecular recycling technologies to provide Stanley Black & Decker more sustainable materials without any compromise on product performance. This collaboration is a prime example of how value chain partners who share a vision for a sustainable future and a commitment to addressing both the climate and waste plastic issues can leverage material circularity to provide solutions with technologies we have today."
Stanley Black & Decker's ESG strategy includes a focus on "Innovating with Purpose," aiming to design products for circularity across material selection, use and end-of-life considerations, with a near-term goal of 100% reusable, recyclable or compostable packaging by 2025. In 2018, Stanley Black & Decker joined with leading businesses and governments to sign the New Plastics Economy Global Commitment, an initiative of The Ellen MacArthur Foundation and United Nations Environment Programme. Eastman is also a signatory to the New Plastics Economy Global Commitment.
Stanley Black & Decker's Environment, Social & Governance (ESG) Strategy: Stanley Black & Decker's purpose – For Those Who Make the World – helped launch an ESG strategy that tied the company's purpose with the UN SDGs. While the company has always had a deep commitment to corporate social responsibility, the ESG strategy, born in 2017, was reflective of the company's broader ambition to help create a more sustainable world.
The strategy focuses the company's efforts on three key pillars: empowering makers, innovating with purpose and creating a more sustainable world. By 2030, Stanley Black & Decker plans to enable 10 million creators and makers to thrive in a changing world, innovate our products to enhance the lives of 500 million people, and be carbon positive in its global operations, meaning its carbon capture is greater than its carbon emissions.
*The recycled content is achieved by allocating the recycled waste plastic to Tritan Renew using a mass balance process certified by ISCC.
About Stanley Black & Decker: Stanley Black & Decker, an S&P 500 company, is a leading $14.5 billion global diversified industrial with 56,000 employees in more than 60 countries who make the tools, products and solutions to deliver on its Purpose, For Those Who Make The World. The Company operates the world's largest tools and storage business featuring iconic brands such as DEWALT, STANLEY, BLACK+DECKER and CRAFTSMAN; the world's second largest commercial electronic security company; and is a global industrial leader of highly engineered solutions within its engineered fastening and infrastructure businesses. Learn more at www.stanleyblackanddecker.com.
About BLACK+DECKER Since 1910, BLACK+DECKER has been setting the standard for innovation and design of power tools, outdoor yard care equipment, and home products. The inventor of the first portable electric drill with pistol grip and trigger switch, BLACK+DECKER has evolved from a small machine shop in Baltimore, Maryland to a global manufacturing powerhouse with a broad line of quality products used in and around the home. When home owners have work to get done, they trust that BLACK+DECKER products will do the job efficiently and reliably. For more information on BLACK+DECKER products, visit www.blackanddecker.com or follow BLACK+DECKER on Facebook, Instagram, & Twitter.
About Eastman: Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,500 people around the world and serves customers in more than 100 countries. The company had 2020 revenues of approximately $8.5 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit http://www.eastman.com.