Snap-On Inc.

Snap-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, to......Snap-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 companys 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. Mission The most valued productivity solutions in the world. Company History Pioneering the idea of interchangeable sockets and wrench handles, Joseph Johnson together with William Seidemann, formed the Snap-on Wrench Company in 1920. The company manufactured and marketed ten sockets that would "snap on" to five interchangeable handles, a concept that revolutionized the tool industry. Snap-on has continued its innovative leadership across an ever-expanding line of products to this day. To sell the products, Johnson and Seideman worked with Stanton Palmer, who took the tools directly to customers at their places of business and demonstrated the benefits, which became the cornerstone of the companys marketing success. As a result of this successful sales strategy, Palmer enlisted Newton Tarble to share the increasing workload. These four founders - Joseph Johnson, William Seidemann, Stanton Palmer, and Newton Tarble - were responsible for putting Snap-on on the map. Snap-on entered the international arena in 1931. Also in the 1930s, Snap-on began offering credit to customers and was the first in the industry to do so. In the 1950s, Snap-on expanded on the concept of bringing product to the customer by using fully stocked walk-in vans and, as a result, pioneered todays familiar franchisee van channel. The one-on-one relationships that Snap-on franchisees have with customers are the primary way that the excellence of Snap-on is sold. The franchisees keep customers up to date on new products - hand tools that consistently push the envelope of design possibilities, power tools that are built for demanding situations, tool storage offered in various sizes and features for best optimization, and diagnostics products that combine power and intelligence. A leader in innovation, as a pioneer of interchangeable sockets and inventor of the Flank Drive® wrenching system, Snap-on has grown its offering to nearly 14,000 products that feature innovative designs and precision manufacturing. Snap-ons greatest promotion arguably comes from word-of-mouth testimonials, but the brand is also visibly associated with motor sports. Snap-on has had a professional relationship with auto racing for more than 70 years. Through the years, Snap-on led the way with a vision of becoming the customers total solutions provider. Committed to meeting customers rapidly changing needs, the company enhanced its leadership position by increasing the capabilities it offered and expanding the availability of solutions, including diagnostics, under-car equipment, vehicle service information, product procurement/facilitation and business management systems. Today, Snap-on is a $2.5 billion, S&P 500 company headquartered in Kenosha, Wisconsin, offering products and services that are available around the world.