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To fit out (a factory, for example) with a new set of machinery and tools for making a different product.
(verb-transitive)
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To revise and reorganize, especially for the purpose of updating or improving: had to retool the city's economy.
(verb-transitive)
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To fit out a factory with a new set of machinery and tools.
(verb-intransitive)
American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.