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FOR IMMEDIATE RELEASE |
MAY 09, 2008 |
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KENOSHA, Wis.--(BUSINESS WIRE)--Snap-on Incorporated (NYSE:SNA), a leading global innovator, manufacturer and marketer of tools, diagnostics, equipment, software and service solutions for professional users, today announced that Frost & Sullivan's independent research, 2007 United States (U.S.) Automotive Technicians' Choice: Evaluation of Automotive Tools, saw Snap-on emerge as the overwhelming leader in all product and service categories tested among U.S. automotive technicians. Based on this, Frost & Sullivan has recognized Snap-on as the "Overall Best Brand of Automotive Tools in the United States" among Snap-on's top competitors.
"Snap-on is honored to receive Frost & Sullivan's Technician's Choice Award for 2007, particularly since it measures the preferences of our customers," said Tom Ward, president of Snap-on Tools Company, LLC. "Being recognized by the automotive technicians themselves is validation of our mission to provide the most valued productivity solutions in the world. We are proud to be the company automotive professionals turn to when deciding which brand to purchase."
"Most impressive is the preference that U.S. automotive technicians have for Snap-on's hand tools as nearly seven out of ten (69 percent) select Snap-on as "Overall Best for Hand Tools", yet only 12 percent state the same about the nearest competitor," says Frost & Sullivan director Tonya Fowler. In addition says Fowler, U.S. automotive technicians prefer Snap-on tools in several other categories as well. In tool storage, U.S. automotive technicians choose Snap-on tool storage 66 percent to 11 percent for the nearest competitor. In the power tools category, Snap-on tools are preferred 41 percent to the 21 percent of the nearest competitor. In addition, Snap-on scan tools are selected 53 percent to the 22 percent of the nearest competitor.
Supporting Snap-on's leading position, the largest proportion of U.S. automotive technicians also report Snap-on as best for all automotive tool features tested: durability, innovation, product selection and availability, product warranty, technical support, and quality. U.S. automotive technicians specifically consider quality to be the most important feature of an automotive tool and not surprisingly, Snap-on is most strongly associated with quality.
"In 2006 - the first year that Frost & Sullivan began tracking U.S. Automotive Technicians' opinions on automotive tools - Snap-on swept three of the four product categories," remarks Fowler. "Forward to 2007, Snap-on not only maintained a strong reputation, but also gained significant ground in the power tools category, earning them the coveted title of 'Overall Best Brand of Power Tools.'"
Each year, Frost & Sullivan presents this Award to the company that has demonstrated excellence. The Award recipient has distinguished itself through its proactive strategies that position it to emerge as an industry leader. Snap-on was honored for the award on April 15 at Frost & Sullivan's 2008 Excellence in Industrial Technologies Awards Banquet. This ceremony recognizes companies, products, processes and executives that have achieved world-class performance within their industries.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Snap-onSnap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, diagnostics, equipment, software and service solutions for professional users. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as customers in industry, government, agriculture, aviation and natural resources. Products and services are sold through the company's franchisee, company-direct, distributor and Internet channels. Founded in 1920, Snap-on is a $2.8 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
About Frost & SullivanFrost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information, visit http://www.awards.frost.com.
SOURCE: Snap-on Incorporated
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