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Fiskars/Portable Products <br /> Fiskars acquired Portable Products early in 1996. Portable Products represents 1 <br /> of 29 wholly owned subsidiaries owned by Fiskars. Overall, Fiskars has doubled <br /> its revenues in the last three years to $529,000,000. Fiskars expects its overall <br /> sales to exceed $1,000,000,000 by the year 2000. Its headquarters for consumer <br /> products is based in Madison, Wisconsin. The overall corporate headquarters is <br /> in Helsinki, Finland. <br /> The Portable Products division, based in Mounds View, has grown from virtually <br /> no sales to over $25,000,000 in 7 years. Based upon current growth, the company <br /> expects to double revenues again, to $50,000,000, within 2 years. <br /> Portable Products is the premier provider of canvas tool belts, bags, and other <br /> portable tool organizers and carryalls. Portable Products represents a very <br /> synergistic blend of culture of innovativeness with Fiskars other consumer products <br /> which is one of Fiskars special strengths. The expectations for the increased <br /> success of these products, targeted particularly to the do-it-yourself market, are <br /> very high. <br /> Three main factors continue to fuel the growth of the Portable Products, as they • <br /> have for the last several years: development of new products, development of new <br /> marketplaces and the prospective acquisition of carefully selected products and <br /> companies. <br /> The Mounds View location represents Portable Products headquarters and primary <br /> final assembly and distribution center. The company controls nearly a 90% <br /> marketshare within its market segment and its principal sales and distribution is <br /> through major retailers such as Sears, Lowes, Target, Home Depot, Wal-Mart, <br /> and Menards. The company's growth strategy is based upon continued innovation <br /> and expansion of its product line and greater market acceptance. <br /> Portable Products currently employs approximately 60 people in Mounds View. <br /> Two-thirds of these employees are production/distribution personnel and there are <br /> approximately 20 management and corporate people at its facility. The <br /> management and corporate personnel base salary range from $20,000 up to <br /> $75,000. <br /> The manufacturing positions generally start in the $8.50 to $9.00 per hour and the <br /> company provides a review, with an opportunity for a raise every 90 days. <br />