Techtronic Industries Co. maker of Ryobi power tools and Hoover vacuum cleaners, expects sales to double in five years aided by a rebound in the U.S. economy and the introduction of new products reported Bloomberg.

“We can double the company’s size over the next five years easily,” Chief executive officer Joseph Galli Jr. said in an interview today. The Hong Kong-based company whose brands also included Milwaukee power tools, plans to roll out 350 new products globally this year, hoping to tap an economic recovery in the U.S.

New residential construction in the U.S. continued to rise in February and permits for future construction climbed to the highest level in almost five years, signaling a rebound in the world’s largest economy. The company gets more than 70 percent of revenue from North America.

Techtronic reported a 32 percent jump in profit for the year ended in December. Net income rose to $201 million from $152 million a year ago. Sales increased 5 percent to $3.85 billion.