Company Overview Visit itw.com website

The Illinois Tool Works Company, or ITW, is headquartered in Glenview , IL . It has 50,000 employees and generates $31 billion in revenue. The company manufactures myriad products, which are sold to other businesses for use in their goods. One of the most popular categories is automotive components.

The beginnings of ITW can be traced back to 1855 when George Harvey started a tool shop in Chicago. Other companies were founded by individuals who worked with George Harvey. Eventually all these companies merged into one called The Harvey Machine Company. After World War I, the company began its growth into what it is today. For example, during World War II they won contracts worth hundreds of millions of dollars to supply the US military with various equipment like switches and gears.

During the latter half of the 20th century, ITW expanded its product line in an effort to reach more customers and increase their revenue. For example, they acquired Heller in 1977 which is a manufacturer of hand tools like wrenches and screwdrivers.

Currently ITW is organized into six segments that are all involved with manufacturing different types of industrial products. They are Polymers & Fluids (which makes adhesives, lubricants, solvents), Welding (which manufactures things like torches and cables), Electronics (which provides interconnect systems for automotive applications), Food Equipment (this segment manufactures commercial food equipment used in restaurants), Engineered Fasteners (these products include things like razor blades) and Abrasives (which makes products like sandpaper and grinding wheels).

Prior to the Great Recession, ITW spent a lot of money on mergers and acquisitions. In 2008 alone, they spent $3.1 billion buying various companies that would help them further their business goals. However, during the recession they decided to slow down on this activity because it was expensive and wasn't adding anything meaningful to their bottom line.

Illinois Tool Works Logo Use Example

Illinois Tool Works Logo Use Example

Illinois Tool Works Website Preview

Illinois Tool Works Website Preview