Illinois Tool Works (ITW) is a multinational industrial company that was founded in 1912. Headquartered in Glenview, Illinois, ITW operates in various sectors and is known for its diversified range of products and solutions. The company's mission is to deliver differentiated value to its customers through its unique business model and strong commitment to innovation.
ITW operates through multiple business segments, each specializing in specific industries and product categories. These segments include Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, Specialty Products, and others. Within these segments, ITW offers a wide array of products, including fasteners, adhesives, welding equipment, food processing machinery, automotive components, construction materials, and more.
The company's success lies in its decentralized business model, known as the ITW Business Model. This model empowers each of ITW's business units to operate autonomously and make strategic decisions based on their specific markets and customers. It promotes innovation, customer focus, and operational efficiency, allowing ITW to respond quickly to changing market demands and deliver customized solutions.
ITW went public in 1952, listing its shares on the New York Stock Exchange (NYSE). The decision to go public provided the company with access to capital markets, enabling it to fund expansion initiatives, invest in research and development, and pursue acquisitions. Since then, ITW has grown through organic growth and strategic acquisitions, further diversifying its product portfolio and expanding its global reach.
Innovation is at the core of ITW's business strategy. The company focuses on developing and delivering breakthrough products and technologies that address customers' needs and provide unique value propositions. ITW has a strong emphasis on research and development, continually investing in new product development and process improvement to maintain its competitive edge in the market.