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Tennant Company (TNC) Offering a More Sustainable Alternative to Traditional Cleaning Solutions
Tennant Company (NYSE: TNC) is a recognized leader in the design, manufacture and marketing of solutions that help create a cleaner, safer and healthier world. Through an unrelenting dedication to sustainability, the company has created innovative cleaning solutions for more than a century, developing a strong presence in the massive global janitorial services market. Tennant’s collection of trusted brands – including Tennant®, Nobles®, Green Machines®, Alfa and Orbio Technologies – is currently marketed to both building service contract cleaners and various governmental entities through an established network of authorized distributors.
In recent months, Tennant has built upon its reputation for innovation through the continued expansion of its industry-leading product portfolio. In particular, the company recently introduced its new T300 and T300e walk-behind floor scrubbers, which, according to customer reviews, deliver high-performance results while lowering cleaning costs. Tennant’s new scrubbers are also noteworthy as the first of their kind equipped with ec-H20 NanoClean™, the company’s next-generation cleaning innovation. This revolutionary technology electrically converts water into a highly-effective cleaning solution that saves money and reduces environmental impact, as compared to daily floor cleaning chemicals.
With an established presence in the janitorial services industry, Tennant is in a favorable strategic position to capitalize on forecast market growth. According to a report by IBISWorld, demand for commercial cleaning services is expected to rise in line with declining office vacancy rates in the years to come, providing a measurable boost to the $51 billion industry. In the second quarter of 2015, the company leveraged this market performance to record strong financial results. For the period, Tennant recorded a five percent year-over-year increase in sales throughout the Americas, which are its largest operating regions.
“Tennant posted another solid quarter, led by robust sales to strategic accounts in North America and global sales of new products,” Chris Killingstad, president and chief executive officer of Tennant, stated in a news release. “Overall, we remain pleased with the company’s progress against our organic sales growth goals during the 2015 second quarter and first half, as we strive to reach $1 billion in revenues by 2017.”
Moving forward, Tennant plans to persist toward its strategic growth goal through the continued development of a strong new product pipeline aimed at expanding its presence in emerging markets. Look for the company to leverage the marketability of its proprietary technologies in order to continue promoting sustainable investor returns for the foreseeable future.
For more information, visit www.tennantco.com
