Positec USA Inc Was Ranked #5 on North Carolina's MID-Market FAST 40

Positec USA Inc., a global company that manufactures and markets power tools, lawn and garden equipment and accessories, today announced that in 2011, the company was ranked #5 on North Carolina's Mid-Market FAST 40, and was also recognized as #19 on Charlotte Business Journal's 2011 Fast 50 list of high-growth private companies in terms of percentage revenue growth, and #2 in terms of dollar revenue growth. Presented by Business North Carolina and Cherry, Bekaert & Holland, LLP, the NC Mid-Market FAST 40 program honors those middle-market companies headquartered in North Carolina that have had the greatest growth in revenue and employees over the last three years. Positec was recognized in the Large Middle Market category (companies with revenue of $100 to $500 million). Charlotte Business Journal recognizes the 50 fastest-growing private companies in the Charlotte area with an award for their outstanding entrepreneurial excellence and leadership, and for bringing best practices to the table in their respective industries. Positec is the only power tool company on the Fast 50 list. "We are extremely honored to be recognized by two of North Carolina's leading business publications for our success and growth in the region," said Paul Tellefsen, Chief Financial Officer, Positec Tool Corp. "Positec is proud to bring jobs and opportunities for people right here in Charlotte, and we are committed to building and growing our presence in the great State of North Carolina." Positec has grown from two employees in 2005 to more than 110 today during a time that has been especially turbulent for housing and the power tool industry. Despite the economic headwinds, the company's sales in the U.S. have risen by more than 160 percent over the past three years. Also last year, Positec announced that it had been named 2010 Innovator of the Year by Lowe's, its single largest customer which is also headquartered in the Charlotte area. Positec USA markets and distributes its WORX(R) line of home improvement tools and accessories and Rockwell(R) line of power tools to home improvement retailers throughout the U.S. and Canada. Since 2005 it has seen its sales in America grow to over $200 million in 2010 driven by the successful launch of its WORX(R) and Rockwell(R) brands. About Positec Positec manufactures and markets the Rockwell and Worx line of home improvement tools and accessories to professional contractors and home improvement enthusiasts around the world. The company has introduced a new high-growth model for the industry, built on heavy investment in R&D, high-impact direct-to-consumer advertising and best-cost quality manufacturing. Positec is focused on developing products and technologies that make a positive contribution to society by making life easier, the workplace safer and the environment cleaner. Positec was named the 2010 Innovator of the Year by Lowe's Companies, Inc., the first time a first-year supplier won the honor from the home improvement chain. Since its founding in 1994, Positec has achieved industry-leading growth and employs almost 4,000 people in 12 countries. Source: marketwatch.com