Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Illinois Tool Works Inc.    ITW   US4523081093

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Illinois Tool Works Inc. : Illinois Tool Industrial-Packaging Unit in Play

02/19/2013 | 10:16am US/Eastern

Illinois Tool Works Inc. (ITW) said it is reviewing strategic options for its industrial-packaging segment--including a potential sale or spinoff of the business--as part of the industrial conglomerate's restructuring efforts.

The business makes and designs steel, plastic and paper products used for bundling, shipping and protecting transported goods, with brands including Signode, Strapex, Angleboard and Mima. The segment reported 2012 revenue of about $2.4 billion.

The review is expected to last through 2013.

ITW operates several hundred businesses in industrial sectors that include automotive components, welding equipment, testing and measurement devices, industrial packaging and commercial kitchen appliances.

The company last year said it plans to consolidate hundreds of smaller business units into larger-scale businesses that the company expects will be more competitive in global markets and produce higher profits. The consolidation is expected to eliminate hundreds of managers and reduce expenses for materials and services, while also helping the company focus on its faster-growing businesses.

ITW last month said its fourth-quarter earnings surged on a gain related to the sale of its laminates unit.

Shares rose 2.1% premarket to $64.60. As of Friday's close, the stock was up 6.2% over the past three months.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
Latest news on ILLINOIS TOOL WORKS INC.
4d ago ILLINOIS TOOL WORKS : Researchers Submit Patent Application, "Hand-Turnable Weld..
4d ago ILLINOIS TOOL WORKS : "Heat Transfer Labels and Method of Making Same" in Patent..
5d ago ILLINOIS TOOL WORKS : Patent Issued for Modular Strapping Head with Heat Blade
5d ago ILLINOIS TOOL WORKS : Patent Issued for Thermal Break Fastener
5d ago ILLINOIS TOOL WORKS : Assigned Patent
12/10 ILLINOIS TOOL WORKS : Assigned Patent
12/08 ILLINOIS TOOL WORKS : ITW Management to Update Company's Enterprise Strategy Per..
12/05 ILLINOIS TOOL WORKS : Federal Contracts Awarded by Federal Agencies in Washingto..
12/05 ILLINOIS TOOL WORKS : ITW Management to Update Company's Enterprise Strategy Per..
12/04 ILLINOIS TOOL WORKS : Patent Application Titled "Ionizing Bar for Air Nozzle Man..
Advertisement
Chart
Duration : Period :
Illinois Tool Works Inc. Technical Analysis Chart | ITW | US4523081093 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF