2/19/2010
NEWS BRIEFS
ITW Auto Fastener Segment Sales Jump 28%

Illinois Tool Works Inc. “believes most end markets have stabilized and anticipates modest expansion in a variety of worldwide end markets in 2010,” the company stated in a press release.

Transportation segment operating revenue, including fasteners, has grown 28.4% in the three month-period ended January 31, 2010, while construction products revenue, including fasteners rose 14.1% during the period.

Overall ITW operating revenue grew 5% during the most recent three months. “The sequential base revenue improvement was largely due to easier January comparisons and the substantial improvement in the North American automotive OEM end market,” ITW stated.

The 2010 full-year forecast at ITW is aimed at a total revenue growth range of 10% to 14%.

In late January ITW acquired UK-based specialty coatings maker ICI-Imagedata. Terms were not disclosed.

Glenview, IL-based ITW is a multinational manufacturer consisting of 840 business units in 57 countries and 59,000 employees. The company reported $13.87 billion in 2009. ©2010 GlobalFastenerNews.com

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