About the Company
Illinois Tool Works, Inc., or ITW, is an American company engaged in the production of engineered speciality products, equipment, consumable systems, fasteners and other such components. The company was established in 1912 with its corporate headquarters in Glenview, Illinois, United States. The company made its first acquisition in 1920 when it bought off Shakeproof Screw and Nut Lock Company. Its shares trade on the New York Stock Exchange (NYSE) under the ticker symbol of ITW. ITW shares are also included as a component on the S&P 500 stock market index.
The company operates in over 55 countries through several business segments, namely Automotive OEM, Speciality Products, Construction Products, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, and Welding. ITW also comprises numerous subsidiaries such as Lumex, Inc., AppliChem, Inc., Instron GmbH, Panreac Quimica SLU, Avery Weigh- Tronix International Limited, Brooks Instrument B.V., Coeur Holding Company and Hobart Brother LLC, among others. Some of its notable brands include Miller Electric, Hobart and Paslode. The company also holds more than 18,000 patents worldwide. Over the years, ITW acquired a number of companies and expanded its business operations. A key merger took place in 1993, when it purchased Miller Electric Welding Company in its largest acquisition till date, as of 2021. In 1995, it bought off the Hobart Brothers Company. In 1999, it took over DUO-FAST Corporation for an undisclosed amount. The year 1999 also witnessed another major acquisition in ITW’s history as it bought off Premark International for $3.4 billion. The company entered into another merger in 2006 and acquired Alpine Engineered Products in a $159 million transaction. In 2008, ITW took over Peerless Machinery Corp. Subsequently, ITW also acquired Elro Group in 2010 for an undisclosed amount.
Illinois Tool Works, Inc. was ranked 69th in Just Companies List 2017 and was also a part of America’s Largest Public Companies 2018 list. As of 2021, Illinois Tool Works ranked 229th on the list of Fortune 500 companies. Forbes included ITW in its list of Global 2000 companies in 2020, where it ranked 511th. Forbes also recognized ITW as one of the World’s Best Employers 2020.;
|Organisation||Illinois Tool Works Inc|
|Industry||Specialty Industrial Machinery|