Illinois Tool Works, Inc. ITW

llinois Tool Works Inc., incorporated on June 19, 1961, is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products, and Specialty Products. As of December 31, 2016, the Company had 85 divisions in 57 countries.

Automotive OEM

The Automotive OEM segment produces components and fasteners for automotive-related applications. Its products include plastic and metal components, fasteners and assemblies for automobiles, light trucks and other industrial uses. This segment primarily serves the automotive original equipment manufacturers and tiers market.

Food Equipment

The Food Equipment segment offers commercial food equipment. Its products 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. This segment primarily serves the food institutional/restaurant, food service and food retail markets.

Test & Measurement and Electronics

The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions. Businesses in this segment produce equipment, consumables, and related software for testing and measuring physical properties of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics. Its 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. This segment primarily serves the electronics, general industrial, industrial capital goods, automotive original equipment manufacturers and tiers, and consumer durables markets.

Welding

The Welding segment produces welding equipment, consumables and accessories for a range of industrial and commercial applications. Its products include arc welding equipment; metal arc welding consumables and related accessories, and metal jacketing and other insulation products. This segment primarily serves the general industrial market, which includes fabrication, shipbuilding and other general industrial markets, and energy, construction, MRO, and industrial capital goods markets.

Polymers & Fluids

The Polymers & Fluids segment produces adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance. Its 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. This segment primarily serves the automotive aftermarket, MRO, general industrial and construction markets.

Construction Products

The Construction Products segment supplies engineered fastening systems and solutions. Its products include fasteners and related fastening tools for wood and metal applications; metal plate truss components and related equipment and software; anchors, fasteners and related tools for concrete applications, and packaged hardware, fasteners, anchors and other products for retail. It primarily serves the residential/remodel construction and commercial construction markets.

Specialty Products

The Specialty Products segment produces beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners. Its 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. This segment primarily serves the food and beverage, general industrial, consumer durables, printing and publishing, and industrial capital goods markets.

The Company competes with Lincoln Electric and ESAB.