Black & Decker is on the road to changing its name to Green & Decker.
The Towson-based home-tools manufacturer this week released its second annual Citizenship Report, detailing the efforts the company is making to promote healthy environmental practices in product design and development.
“One great example is our cordless lawnmower, which has sold very well this year despite a tough economic environment,” Nolan Archibald, Black & Decker’s chief executive officer, said in the report. “It eliminates the emissions of a gas-powered mower and comes with an Energy Star certified battery charging system.”
Another one of Black & Decker’s new “green” products, the energy-saving power monitor, attaches to a homeowner’s electric meter and sends usage data to a battery-operated receiver in the home. Consumers can immediately see what electrical appliances and systems are costing them and the savings they could gain from less use.
Independent studies showed behavioral changes result in 10 percent to 20 percent energy usage reductions, according to the report.
“The ‘green’ movement is an opportunity to take advantage of the trend, particularly in our consumer business,” said Roger Young, company spokesman. “People aren’t going to spend on the product unless they see some savings from it.”
Baltimore-area consumers paid more for electricity (12.7 percent) and utility gas (9.6 percent) than the U.S. city average in October, according to the Bureau of Labor Statistics’ Consumer Price Index released this week.
To save water, the company’s Price Pfister division has developed several new faucets that use 30 percent less water than ordinary faucets.
With the U.S. housing slump ongoing, Black & Decker, tied to the housing market, slumped in the third quarter as well. Its third-quarter earnings, reported in October, were $85.8 million, down from $104.6 million in the same period last year. Sales decreased by 4 percent to $1.6 billion.
Green business operation has become a focus for the company, one it hopes will attract cautious consumers.
“Looking ahead, slowing global economies and weakening consumer confidence will make the fourth quarter very challenging,” Archibald said at the time third-quarter results were announced.
The company in October 2008 also initiated National Power Tool Battery Recycling Month, giving customers who recycled any power tool battery a $10 discount on battery purchases. Black & Decker’s DeWalt service centers collected 23,000 pounds of batteries during the month.
