DeWalt is an American worldwide manufacturer of power tools and hand tools for the construction, manufacturing, and woodworking industries, as well as home craftspeople. The original company was started in 1923 by Raymond E. DeWalt, the inventor of the radial arm saw. It grew quickly and was reorganized and reincorporated in 1947 as DeWalt Inc. American Machine & Foundry Co., Inc. bought the company in 1949, and sold it to Black & Decker in 1960. In 1992, Black & Decker began a major effort to rebrand its professional quality and high-end power tools to DeWalt. In 1994, DeWalt took over the German woodworking power tool producer ELU and used ELU’s technology to expand their tool line. As of 2001, they manufacture and sell more than 200 hand power tools and 800 accessories. DeWalt is now a popular brand of tools for commercial contractors.