Toolots CEO Jason Fu (right) with Vice CEO XiaoLiong Li (left).Toolots recently hosted executives from the China Hi-Tech Group Corporation, a Chinese textile manufacturing company, for in depth talks regarding global manufacturing and trade.
CERRITOS, California- December 5, 2017- Toolots, an online platform and marketplace for factory-direct industrial tools, machinery, and supply, hosted esteemed guests from the China Hi-Tech Group Corporation (CHTC) on November 29th. The purpose of their visit was to discuss international trade, the textile industry, and how Toolots’ innovative business model can streamline global e-commerce.
According to the National Council of Textile Organizations (NCTO) the U.S. textile industry employed over half a million workers, and had an overall value of $74.4 billion in shipments in 2016. The same year, the U.S. exported roughly $26.3 billion and globally was the forth largest exporter of textile products. Of these countries, China was the third largest export market for the U.S. totaling $1.8 billion, including Macau and Hong Kong. China Energy Group, the Energy Analysis and Environmental Impacts Division of the U.S. Department of Energy, found China supplies the world with 40% of its textile and clothing products, therefore ranking it as the #1 exporter of textiles in the world. Furthermore, with over 24,000 enterprises in China operating in textile and apparel manufacturing and supply, the textile industry is the largest manufacturing industry in the country.
Toolots and CHTC Executives examine products from Toolots' showroom in Cerritos, CA.One of the largest textile enterprises in China is the CHTC which employs over 60,000 workers, has 23 direct subsidiaries, operates in 20 provinces in China, and has additional offices in over 20 countries and regions. Founded in 1998 under supervision of the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC), the CHTC focuses on the production of textile machinery, commercial vehicles, and textile materials and trade. As one of the company’s six business units, CHTC’s fiber material subdivision is currently focusing on the development of high-tech, environmentally friendly fibers to be used in a variety of industries.
Toolots Executives give CHTC executives a tour of their headquarters and warehouse.CHTC’s meeting with Toolots first began with a tour of their Cerritos headquarters, including the company’s 128,000 square foot warehouse, showroom, and office. With over 17 years of experience in industry supply through sister company Bolton Tools, Toolots CEO and Founder Jason Fu discussed the company’s desire strives to promote cross-border e-commerce between the U.S. and China. As one component of the business model, Fu explained, Toolots helps U.S. manufacturing companies establish a brand in China while also helping Chinese manufacturers create a brand in the U.S. as well. An example of this can be found in Himalia, the legally registered U.S. entity of Haida, which created a brand of plastic injection molding machines tailored to fit U.S. manufacturers’ technical specifications and needs.
Toolots and CHTC during their open discussions regarding global commerce and the textile industry.CHTC and Toolots executives then began open discussions regarding the state of global manufacturing, and the possibility for future partnerships to improve global commerce. Fu discussed how digital marketing, social media, and email marketing strategies can be used in the global manufacturing community to increase brand awareness and drive sales for manufacturing companies. He explained that smaller manufacturing companies often are used to traditional sales through word of mouth or brick and mortar establishments. Conversely, SMEs familiar with digital marketing often don’t have the budget for it after paying overheard costs. Fu then highlighted several components of Toolots’ comprehensive services like adwords, advertising, and YuuTool, that make the company unique and offer partnered SMEs access to affordable solutions.
About Toolots
Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and manufacturing technology. Our user-friendly platform provides fast, easy access to high-quality, affordable equipment for manufacturers. More than a simple distribution channel, Toolots provides comprehensive services for companies around the world who produce the industrial machinery and equipment we sell, helping streamline the marketing, omni-channel sales, warehousing, fulfillment and after-sales service. On the customer end, Toolots simplifies the purchase, delivery, installation and warranty of industrial technology, machinery and components, and upholds product quality through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States, China and as of May 2017, has expanded into Taiwan. For more information visit us online at www.toolots.com.
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YuuTool uses geolocation data to identify locally available technicians for industrial machinery repair as well as open jobs for those same professionals.
YuuTool users can also find technicians or jobs using the app's list function in addition to searching based on the user's current location. Open jobs or work requests are publicly available to decrease operational downtime and generate new revenue for machinery technicians in the United States.
YuuTool includes a Marketplace for users to purchase or sell used machinery, equipment and components. Think of it like a classified ads section that is always current.
Jason Fu during his presentation on Toolots' unique business model.
Fu providing 40+ investors a tour of Toolots' best selling items in their warehouse.
