ITW Fastener Sales Up

Jason Sandefur

Illinois Tool Works Inc. reported higher industrial and construction sales helped boost revenue of its North American Engineered Products unit, including fasteners, 12.7% to $971.7 million. Segment operating income grew 14.4% to $177 million.
Q2 sales for International Engineered Products rose 8.6% to $708.9 million, while operating income dipped 0.3% to $101.8 million.
Overall ITW sales during Q2 increased 10% to $3.29 billion, while net income gained 4% to $373.8 million. For the first half of 2005 sales grew 12% to 6.37 billion, and net income improved 5% to $650.5 million. Web: itw.com �2005 FastenerNews.com