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Illinois Tool Works Makes Two Acquisitions

Illinois Tool Works, Glenview, IL, has acquired two manufacturers: BagCo Inc., a provider of plastic recloseable packaging for the industrial, medical, and consumer markets, and Kester Inc., a supplier of solder and related materials for electronic and microelectronic assembly suppliers.

Based in Kennesaw, GA, BagCo, Inc. has been a non-exclusive licensee of the “Color Line” trademark owned by Illinois Tool Works.

“We are very excited about the acquisition of BagCo,” said John Stevens, general manager of ITW’s Minigrip Division, a leading provider of reclosable packaging technology. “We look forward to continuing the growth of our business with the promotion of our Color Line trademark, which we believe symbolizes the highest quality in plastic recloseable packaging.”

Based in Des Plaines, IL, Kester’s products provide a critical functional linkage between the various components assembled onto printed circuit boards. The company’s products are also used in the manufacture of a number of microelectonic sub-assemblies. Major end users include manufacturers of computers, communications devices, consumer products, medical equipment, and military/defense products.

Kester has estimated 2006 revenues of $175 million. Currently, more than 40% of the company’s revenues emanate from Asia. The remaining revenues are North American, European and South American based.

ITW is a $12.8 billion diversified manufacturer of highly engineered components and industrial systems and consumables. The company consists of about 700 business units in 48 countries and employs 50,000 people.

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