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Latest In Illinois Tool Works

Illinois Tool Works Inc., Glenview, IL, sales in the first quarter of 2009 were $2.9 billion, a decline of 24% from the first quarter of 2008. The manufacturer recorded a loss of $39 million for the period.
 
Due to further weakening in first quarter worldwide end markets, base revenues declined 23.3% versus the year ago period, with North America decreasing 26.7% and international falling 19.5%. Currency translation negatively impacted revenues 7.3% and acquisitions contributed 6.6% in the quarter.
 
"The 2009 first quarter represented historic challenges for our company as end markets continued to weaken in North America, Europe and Asia-Pacific," CEO David B. Speer said. "As a result, we continued to take aggressive restructuring actions that we ...
Illinois Tool Works Inc., Glenview, IL, reported operating revenue decreased 21% for the three months ended Feb. 28, 2009. The decline was due to a 20% decrease in base revenues and a 7% fall off in contributions from currency translation. Acquisitions contributed 7%. Significantly lower than expected end market activity in North America, Europe and Asia in January and February also contributed to the decline in operating revenues.
 
On a segment basis, the Company's three month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below:

Industrial Packaging: -27.7%
Power Systems and Electronics: -26.9%
Transportation: -25.0%
Food Equipment: -15.5%<br ...
Illinois Tool Works Inc., Glenview, IL, reported fourth quarter sales of $3.68 billion, a decline of 5.9% from fourth quarter 2007.  Profit fell 50% to $233.8 million.
 
Organic sales declined 9.2% in the quarter due to further weakening in worldwide end markets, with North America decreasing 12.3% and international falling 6.2%. The strengthening U.S. dollar negatively impacted revenues by 4.5%, and acquisitions contributed 7.8% of growth in the fourth quarter.
 
For full-year 2008, operating revenues of $15.9 billion were 6.7% higher than full-year 2007. Base revenues declined 2.5% in 2008, with North America down 4.8% and international essentially flat for the year. Acquisitions and currency translation contributed 6.6% and 2.8%, respectively, to the 2008 ...
SPX Corp., Charlotte, NC, has sold its GSE Scales product line in the test and measurement segment to Illinois Tool Works Inc., Glenview, IL.
 
SPX is diversified manufacturer, producing cooling systems for power plants; custom engineered process equipment that assists a variety of flow processes including food and beverage manufacturing, oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that regulate voltage for electrical transmission and distribution by utility ...
Illinois Tool Works Inc., Glenview, IL, reported an operating revenue increase of 2.4% for the three months ended Nov. 30, 2008. Revenue growth was driven by contributions from acquisitions. Base revenues were negative for the three month period as North American and international end markets declined significantly in the month of November. Currency translation also had a negative impact for the three month period.
 
On a segment basis, the Company's three month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below:

Industrial Packaging: +1.4%
Power Systems and Electronics: -1.9%
Transportation: +7.6%
Construction Products: -12.6%
Food Equipment: ...
3M, St. Paul, MN, and Illinois Tool Works Inc., Glenview, IL, reached a mutual settlement concerning issues in patent infringement litigation brought by 3M in June 2006 in the U.S. District Court for the District of Minnesota. The case involved 3M's patent covering its paint preparation system products.
 
Under the terms of the agreement, ITW acknowledged the validity and enforceability of 3M's patent rights and has taken a license under 3M patents. In addition, the parties have entered into a supply agreement under which 3M will supply a portion of ITW's DeKups system. Other specifics of the agreement are confidential. ...
llinois Tool Works Inc., Glenview, IL, reported operating revenues of $4.15 billion for the third quarter ended Sept. 30, 2008, an increase of 11% over the same period the prior year. The double-digit growth was due to contributions from acquisitions and currency translation. Profit for the quarter was $435.5 million, a decrease of 7.7%. This includes losses incurred from discontinued operations including the Decorative Services segment and the Click Commerce business.
 
Operating revenues for the first nine months of 2008 were $12.19 billion, an increase of 11.2% over the prior year. Profit declined 8.1% to $1.29 billion.
 
On a segment basis, the company's three-month moving average percentage change for operating revenues, comprised of base revenues, ...
Illinois Tool Works Inc., Glenview, IL, has acquired UK-based Avery Weigh-Tronix, a manufacturer of industrial weighing products and systems. Terms of the transaction were not disclosed.
 
Avery Weigh-Tronix will be a wholly owned subsidiary of ITW and part of the company's Test and Measurement group. Last year, the ITW Food Equipment group acquired the retail side of the business, Avery Berkel. In keeping with ITW's decentralized business structure, Avery Weigh-Tronix will maintain its brand and operate as a separate business.
 
With $16.2 billion in revenues, ITW is a diversified and value-added manufacturer of highly engineered components and industrial systems and consumables. The Company consists of approximately 825 business units in 52 countries and employs ...
Illinois Tool Works Inc., Glenview, IL, reported an operating revenue increase of 10.1 percent for the three months ended August 31, 2008. The double-digit increase in revenue growth for the three months was due to contributions from translation and acquisitions.
 
On a segment basis, the company's three-month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below:
 
Industrial Packaging: +16.6%
Power Systems and Electronics: +13.2%
Transportation: +4.8%
Construction Products: +3.2%
Food Equipment: +11.2%
Polymers and Fluids: +43.5%
Decorative Surfaces: +1.0%
All Other: +4.6%
 
On Aug. 11, 2008, the company announced a plan to divest its ...
Illinois Tool Works Inc., Glenview, IL, announced that its board of directors has authorized a plan to divest its Decorative Surfaces segment consisting of the Wilsonart and related laminate businesses and the Click Commerce industrial software business.
 
Wilsonart was acquired in 1999 by ITW as part of the Premark International transaction. In 2007, the decorative surfaces segment had revenues of $1.2 billion. Wilsonart manufactures and distributes custom construction products for commercial, residential and renovation applications. Products include decorative laminate, solid surface, flooring, decorative materials, adhesives and custom edges. The group has 16 business units worldwide with the majority of revenues based in North America.
 
International ...
Illinois Tool Works Inc., Glenview, IL, reported revenues grew 10.5% to $4.57 billion in the second quarter 2008. The increase is attributable to a 4.3% contribution from acquisitions and a 6.4% contribution for currency translation.
 
Overall base revenues were flat in the second quarter, with international base revenues growing 3% and North American base revenues declining 2%. Income from continuing operations increased 10% to $528.5 million.
 
By Sector
Worldwide base revenues for the Power Systems and Electronics segment grew 7.7%, with an 8.9% increase in welding base revenues and a 6.9% increase in base revenues for PC board fabrication.
 
Base revenues for the Polymers and Fluids segment increased 2.3% in the quarter, with North American ...
Illinois Tool Works Inc., Glenview, IL, has acquired the TRYMER polyisocyanurate (PIR) rigid foam business. The TRYMER plant is based in LaPorte, TX.
 
The agreement also includes a provision for Dow to exclusively supply ITW with extruded polystyrene (XPS) pipe insulation billets for the mechanical insulation market.
 
TRYMER will be a wholly owned business unit of ITW and part of the company's industrial packaging group. TRYMER will maintain its brand name and operate as a separate business.
 
TRYMER is an ideal strategic fit in our growing global insulation business," said Larry Keiner, vice president and general manager of ITW Insulation Systems. "The acquisition of TRYMER and the opportunity to supply XPS will broaden our mechanical insulation ...
Illinois Tool Works Inc., Glenview, IL, reported operating revenue was up 11.2% for the three months ended May 31, 2008. Growth in revenues was largely due to contributions from translation and acquisitions.
 
On a segment basis, the Company's three month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below:
 
Industrial Packaging +15.2 %
Power Systems and Electronics +11 %
Transportation +9.8 %
Construction Products + 6.3 %
Food Equipment +17.5 %
Polymers and Fluids +26 %
Decorative Surfaces + 4.6 %
All Other + 8.0 %
 
With $16.2 billion in revenues, ITW is a diversified manufacturer of highly engineered components and industrial ...
Illinois Tool Works Inc., Glenview, IL, reported operating revenue increased 11.5% for the quarter ended April 30, 2008. Growth in revenues was primarily due to contributions from translation and acquisitions.

By segment:
Industrial Packaging +14.9%
Power Systems and Electronics +8.9%
Transportation +11.5%
Construction Products +2.7%
Food Equipment +25.1%
Polymers and Fluids +27.8%
Decorative Surfaces +3.3%
All Other +8.6%
 
Above numbers include base revenues, acquisitions/divestitures and currency translation.
 
With $16.2 billion in revenues, ITW is a diversified manufacturer of highly engineered components and industrial systems and consumables. The company consists of 825 business units in 52 countries and employs some 60,000 ...
Illinois Tool Works Inc., Glenview, IL, has agreed to buy commercial foodservice equipment supplier Enodis for $2.1 billion in cash plus the assumption of debt, bringing the market value to $2.3 billion.
 
Enodis had reported revenues of $1.6 billion for fiscal year ended Sept. 30, 2007. The company's product line includes food equipment mainly for fast food restaurants, institutions and supermarket/grocery stores. Major products include cooking equipment, ice and beverage dispensing equipment, and stand-alone refrigeration as well as refrigerated display cases. Enodis' brand names include Frymaster, Garland, Lincoln, Scotsman, Convotherm and Kysor Warren.
 
ITW's existing food equipment businesses had revenues of $1.9 billion in 2007 and feature products primarily ...
Illinois Tool Works Inc., Glenview, IL, reported 11.4% growth to $4.139 billion in the first quarter 2008. The increase was due to a 6.3% contribution from acquisitions and a 4.8% contribution from currency translation.
 
Organic growth was 0.4%, with international base revenues growing 4.6% and North American revenues falling 2.5%.
 
Overall profit of $303.6 million was down 24.6% from the year-ago period.

We are very pleased with our operating performance in the 2008 first quarter, especially in light of difficult end market conditions in North America and the modest slowing but still positive growth in international end markets," said David B. Speer, CEO. "We believe end markets will continue to be challenging in North America over the foreseeable ...
Illinois Tool Works Inc., Glenview, IL, has acquired VS Acquisition Holding Inc., the parent company of Vitronics Soltec Corp., Stratham, NH, a global manufacturer of equipment, software and related services used in the soldering of printed circuit boards and the packaging of semiconductor devices.
 
VS Acquisition Holding Inc. will be a wholly owned business unit of ITW and part of the company's existing power systems and electronics businesses. ITW will continue to operate VS Acquisition Holding Inc. as a separate business under the Vitronics Soltec brand name.
 
Vitronics Soltec has affiliates in Oosterhout, Holland and Suzhou, China. Direct sales and support centers are in the U.S., Holland, Germany, Singapore, Malaysia, Korea and Shanghai.
 
ITW is ...
Illinois Tool Works Inc. has agreed to acquire Quipp Inc., Miami, FL, for between $4.30 and $5.65 per share in cash.
 
Quipp, through its operating subsidiary Quipp Systems Inc., designs, manufactures and installs material handling systems and equipment to facilitate the automated inserting, assembly, bundling and moving of newspapers from the printing press to the delivery truck.
 
ITW is a diversified manufacturer of highly engineered components and industrial systems and consumables with 825 business units in 52 ...
Illinois Tool Works Inc.  reported operating revenues went up 13.8% for the three months ended Feb. 29, 2008, due to contributions from acquisitions.


 
By segment:
Industrial Packaging:  +11.9%
Power Systems and Electronics: 6.1%
Transportation:  +13.0%
Construction Products: +2.2%
Food Equipment: +43.2%
Polymers and Fluids: +35.6%
Decorative Surfaces: +13.8%
All Other: +7.7%



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ITW is a $16.2 billion diversified manufacturer.<br ...
Illinois Tool Works Inc. reported operating revenues increased 15.8% in the three months ended Jan. 31, 2008. Much of that growth was due to acquisitions.
 
On a segment basis:
 
Industrial Packaging: +10.2%
Power Systems and Electronics: +8.5%
Transportation: +13.8%
Construction Products: +5.8%
Food Equipment: +42.8%
Polymers and Fluids: +37.9%
Decorative Surfaces: +24.3%
All Other: +9.4%
 
ITW is a $16.2 billion diversified manufacturer of highly engineered components and industrial systems and consumables. The company has 825 business units in 52 countries.
 
More details here. ...