President and Marketing Director purchase 100-year old company from Alex Gray
BRAMPTON, ON, May 14, 2012 /CNW/ - Gray Tools, the only industrial-quality manufacturer of hand tools in Canada, today announced President Gary Nuttall and Marketing Director Frank Dominguez have purchased the company from Alex Gray. Alex Gray, who was the third-generation owner of Gray Tools, will remain on as chairman and will continue to play an active role with the company.
"We're excited to build upon the strengths of this 100-year old Canadian icon," says Gary Nuttall, President of Gray Tools. "We have exciting plans for the future and believe that our Canadian manufacturing capability gives us a competitive advantage. Customers regularly turn to Gray Tools to see if we can design a special tool for them. Because we manufacture in Canada, we can do this quickly. It is something no-one else seems to be doing."
Gray, who has turned 70, recognized it was time to turn things over to a younger team.
"Gary Nuttall and Frank Dominguez have been key parts of our management team for more than eight years and are well respected by our customers," says Gray. "It was very important to me that the company continue to be privately owned, continue to maintain close personal relationships with customers and that the new owners share these same values - Outstanding Customer Service, Excellent Quality and Fair Dealing with all. They embody this spirit and have been tremendous in helping to manage this company."
Nuttall adds that the change ensures continuity within the company and has answered succession planning questions that periodically came up from customers over the past several years.
Gray Tools Canada Inc. (www.graytools.com) of Brampton, ON, currently celebrating its 100th anniversary, is the only industrial-quality manufacturer of hand tools in Canada and has been manufacturing high-quality hand tools since 1912. The company currently offers more than 6,000 industrial product solutions and operates two warehouses in Canada.
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