Illinois Tool Works Inc. (ITW) operates as a manufacturer of a diversified range of industrial products and equipment with 86 divisions in 51 countries.
Segments
Automotive OEM— This segment is a global, niche supplier to top-tier OEMs, providing unique innovation to address pain points for sophisticated customers with complex problems. Businesses in this segment produce components and fasteners for automotive-related applications. This segment primarily serves the automotive original equipmen...
Illinois Tool Works Inc. (ITW) operates as a manufacturer of a diversified range of industrial products and equipment with 86 divisions in 51 countries.
Segments
Automotive OEM— This segment is a global, niche supplier to top-tier OEMs, providing unique innovation to address pain points for sophisticated customers with complex problems. Businesses in this segment produce components and fasteners for automotive-related applications. This segment primarily serves the automotive original equipment manufacturers and tiers market. Products in this segment include plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
Food Equipment— This segment is a highly focused and branded industry leader in commercial food equipment, differentiated by innovation and integrated service offerings. This segment primarily serves the food service, food retail, and food institutional/restaurant markets. Products in this segment 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; as well as food equipment service, maintenance, and repair.
Test & Measurement and Electronics— This segment is a branded and innovative producer of test and measurement, as well as electronic manufacturing and maintenance, repair, and operations, or ‘MRO’ solutions that improve efficiency and quality for customers in diverse end markets. Businesses in this segment produce equipment, consumables, and related software for testing and measuring materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics. This segment primarily serves the electronics, general industrial, automotive original equipment manufacturers and tiers, energy, industrial capital goods, and consumer durables markets. Products in this segment include equipment, consumables, and related software for testing and measuring materials, structures, gases, and fluids; electronic assembly equipment; electronic components and component packaging; static control equipment and consumables used for contamination control in clean room environments; as well as pressure-sensitive adhesives and components for electronics, medical, transportation, and telecommunications applications.
Welding— This segment is a branded value-added equipment and specialty consumable manufacturer with innovative and leading technology. Businesses in this segment produce arc welding equipment, consumables, and accessories for a wide array of industrial and commercial applications. This segment primarily serves the general industrial market, which includes fabrication, shipbuilding, and other general industrial markets, as well as construction, energy, MRO, industrial capital goods, and automotive original equipment manufacturers and tiers markets. Products in this segment include arc welding equipment and metal arc welding consumables and related accessories.
Polymers & Fluids— This segment is a branded supplier to niche markets that require value-added, differentiated products. Businesses in this segment produce engineered adhesives, sealants, lubrication, and cutting fluids, as well as fluids and polymers for auto aftermarket maintenance and appearance. This segment primarily serves the automotive aftermarket, general industrial, and MRO markets. Products in this segment include adhesives for industrial, construction, and consumer purposes; chemical fluids that 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; as well as polyester coatings and patch and repair products for the marine industry.
Construction Products— This segment is a branded supplier of innovative engineered fastening systems and solutions. This segment primarily serves the residential construction, renovation/remodel, and commercial construction markets. Products in this segment 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; as well as packaged hardware, fasteners, anchors, and other products for retail.
Specialty Products— This segment is focused on diversified niche market opportunities with substantial patent protection, producing beverage packaging equipment and consumables, product coding and marking equipment and consumables, as well as appliance components and fasteners. This segment primarily serves the food and beverage, consumer durables, general industrial, airlines, industrial capital goods, and printing and publishing markets. Products in this segment include 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 closures and components for appliances; airport ground support equipment; as well as components for medical devices.
Portfolio Discipline
On January 2, 2024, the company completed the acquisition of one business in the Test & Measurement and Electronics segment. On April 1, 2024, the company completed the acquisition of another business in the Test & Measurement and Electronics segment.
On August 5, 2024, the company entered into a purchase agreement with affiliates of Clayton, Dubilier & Rice, LLC (‘CD&R’) for the sale of the company’s noncontrolling equity interest in Wilsonart International Holdings LLC (‘Wilsonart’).
Distribution Methods
The company's businesses primarily distribute their products directly to industrial manufacturers and through independent distributors.
Competition
The Welding segment competes globally with Lincoln Electric Holdings, Inc. and ESAB Corporation.
Intellectual Property
The company owns approximately 4,100 unexpired U.S. patents and 10,500 unexpired foreign patents covering articles, methods, and machines. In addition, the company has approximately 1,500 applications for patents pending in the U.S. Patent Office and 4,800 applications pending in foreign patent offices.
Some of the company's more significant trademarks include ITW, which is also used in conjunction with the trademarks of many of the company's businesses; Deltar and Shakeproof in the Automotive OEM segment; Hobart in the Food Equipment segment; Instron and MTS in the Test & Measurement and Electronics segment; Miller in the Welding segment; Rain-X and Permatex in the Polymers & Fluids segment; Paslode in the Construction Products segment; as well as Hi-Cone in the Specialty Products segment.
Research and Development
The company’s research and development expenses were $2.7 billion in 2024.
History
Illinois Tool Works Inc. was founded in 1912. The company was incorporated in 1915.