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Company Description

Contact Info

3600 West Lake Avenue

Glenview, IL 60026

United States

Phone: 847-724-7500

Fax: 847-657-4261

Illinois Tool Works Inc. manufactures a range of industrial products and equipment. The company has operations in 56 countries. Segments The company operates through seven segments: Automotive OEM; Test & Measurement and Electronics; Food Equipment; Polymers & Fluids; Welding; Construction Products; and Specialty Products. Automotive OEM This segment’s products and services include plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses. Test & Measurement and Electronics This segment’s products include equipment, consumables, and related software for testing and measuring of materials, structures, gases, and fluids; electronic assembly equipment and related consumable solder materials; electronic components and component packaging; static control equipment and consumables used for contamination control in clean room environments; and pressure sensitive adhesives and components for telecommunications, electronics, medical, and transportation applications. Food Equipment This segment’s products and services include warewashing equipment; cooking equipment, including ovens, ranges and broilers; refrigeration equipment, including refrigerators, freezers and prep tables; food processing equipment, including slicers, mixers, and scales; kitchen exhaust, ventilation, and pollution control systems; and food equipment service, maintenance, and repair. Polymers & Fluids This segment produces adhesives, sealants, lubrication and cutting fluids, janitorial and hygiene products, and fluids and polymers for auto aftermarket maintenance and appearance. This segment’s products include adhesives for industrial, construction, and consumer purposes; chemical fluids, which clean or add lubrication to machines; epoxy and resin-based coating products for industrial applications; hand wipes and cleaners for industrial applications; fluids, polymers, and other supplies for auto aftermarket maintenance and appearance; fillers and putties for auto body repair; and polyester coatings and patch and repair products for the marine industry. Welding This segment’s products include arc welding equipment; metal arc welding consumables and related accessories; and metal jacketing and other insulation products for a range of industrial and commercial applications. Construction Products This segment’s products include fasteners and related fastening tools for wood and metal applications; anchors, fasteners, and related tools for concrete applications; metal plate truss components and related equipment and software; and packaged hardware, fasteners, anchors, and other products for retail. Specialty Products This segment’s products include line integration, conveyor systems, and line automation for the food and beverage industries; plastic consumables that multi-pack cans and bottles and related equipment; foil, film, and related equipment used to decorate consumer products; product coding and marking equipment and related consumables; plastic and metal fasteners and components for appliances; airport ground support equipment; and components for medical devices. International The company's international operations include subsidiaries and joint ventures in 55 foreign countries on 6 continents. These operations serve such end markets as general industrial, automotive, construction, food institutional/restaurant and service, food and beverage, consumer durables, electronics, maintenance, repair and operations, and others on a worldwide basis. Dispositions In 2012, the company divested a 51% majority interest in the Decorative Surfaces segment, which produced decorative high-pressure laminate surfacing materials for furniture, office and retail space, countertops, worktops, and other applications. Business Strategy A major element of the company’s business strategy is its continuous 80/20 business process. During 2012, the company embarked on an enterprise strategy that includes three primary initiatives, such as portfolio management, business structure simplification, and strategic sourcing. Research and Development The company’s research and development expenses were $240 million in 2013. Intellectual Property The company owns approximately 3,400 unexpired U.S. patents and 6,500 foreign patents covering articles, methods, and machines. In addition, the company has approximately 1,700 applications for patents pending in the U.S. Patent Office and 4,000 applications pending in foreign patent offices. Some of the company's primary trademarks include ITW, which is also used in conjunction with the trademarks of majority of the company's businesses; Deltar and Shakeproof in the Automotive OEM segment; Instron in the Test & Measurement and Electronics segment; Hobart in the Food Equipment segment; Permatex and Wynn's in the Polymers & Fluids segment; Miller in the Welding segment; Paslode in the Construction Products segment; and Hi-Cone in the Specialty Products segment. Competition The company’s competitors include Lincoln Electric and ESAB. History Illinois Tool Works Inc. was founded in 1912. The company was incorporated in 1915.


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Valuation ILT Industry Range
Price/Earnings 22.0x
Price/Sales 2.5x
Price/Book 4.2x
Price/Cash Flow 11.4x
TEV/Sales 1.6x

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