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Our Stories

Building a Strong Safety Culture Across ITW

ITW empowers its business units to make decisions close to customers, fostering innovation and rapid response to market needs while maintaining accountability for results.

Decentralized Entrepreneurship

The company's customer-back innovation approach prioritizes understanding specific customer needs and developing tailored solutions that deliver measurable value.

Customer Focus

ITW promotes a workplace culture that values fairness, ethics, and honesty in all business dealings, maintaining the highest standards of professional conduct.

Integrity & Ethics

The company fosters a culture of collaboration and teamwork, encouraging employees to share ideas, learn from each other, and work together to achieve common goals.

Collaboration & Teamwork

ITW's commitment to operational excellence drives continuous improvement through its proprietary 80/20 process and focus on efficiency, quality, and innovation.

Continuous Improvement

ITW recognizes employee development as essential for long-term success, fostering a culture of learning, growth, and opportunity through comprehensive training programs.

Employee Development

Illinois Tool Works (ITW) is a Fortune 300 global multi-industry manufacturing leader producing engineered fasteners, components, equipment, consumable systems, and specialty products across seven business segments, serving diverse industries with innovative solutions.

Christopher A. O'Herlihy

President and Chief Executive Officer

E. Scott Santi

Chairman of the Board

Michael M. Larsen

Senior Vice President and Chief Financial Officer

Mary K. Lawler

Senior Vice President and Chief Human Resources Officer

Mark Thibeault

Executive Vice President, Polymers & Fluids Segment

Illinois Tool Works Inc. is an American Fortune 500 company that produces engineered fasteners and components, equipment and consumable systems, and specialty products. It was founded in 1912 by Byron L. Smith and has built its growth on a "small-wins strategy" based on decentralization, simplicity, customer-focused innovation, and acquisitions. As of 2024, ITW employed 44,000 employees in 51 countries and held 20,900 granted and pending patent applications worldwide. The company is based in Glenview, Illinois, a suburb of Chicago.

https://en.wikipedia.org/wiki/Illinois_Tool_Works

company that produces engineered fasteners and components, equipment and consumable systems, and specialty products

Comprehensive portfolio of plastic and metal components, fasteners, and assemblies for automotive manufacturers serving automobiles, light trucks, and other industrial applications with innovative engineered solutions.

Automotive OEM Solutions

Industry-leading commercial food equipment including mixers, slicers, ovens, refrigeration, and warewashing systems serving food service, food retail, and institutional restaurant markets worldwide under the renowned Hobart brand.

Hobart Food Equipment

Premium welding equipment and specialty consumables for commercial, industrial, and infrastructure applications, recognized globally for innovation, reliability, and performance under the Miller Electric brand.

Miller Electric Welding Systems

Advanced test and measurement equipment and electronic manufacturing and MRO solutions that improve efficiency and quality for customers in diverse end markets including electronics, aerospace, and industrial manufacturing.

Test & Measurement Solutions

Market-leading pneumatic and cordless fastening tools and consumables for construction and industrial applications, known for innovation in nail gun technology and productivity solutions.

Paslode Fastening Systems

Specialized adhesives, sealants, lubricants, and fluids for automotive, construction, and industrial applications, including the well-known Permatex brand serving aftermarket and OEM customers.

Polymers & Fluids

Diverse portfolio including beverage packaging equipment and consumables, product coding and marking equipment, and appliance components and fasteners serving various industrial and consumer markets.

Specialty Products & Packaging

Illinois Tool Works reported Q4 2024 revenue of $3.9 billion, down 1.3%, with a record operating margin of 26.2%. Full-year 2024 revenue reached $15.9 billion with record GAAP EPS of $11.71, representing a 20% increase. Despite revenue headwinds, the company demonstrated solid operational execution and strong profitability.

ITW Reports Fourth Quarter and Full Year 2024 Results

ITW reported Q3 2025 revenue of $4.1 billion, up 2% with 1% organic growth, and achieved a record operating margin of 27.4%. The company initiated 2025 guidance with GAAP EPS in the range of $10.15 to $10.55 per share, projecting above-market organic growth of 0-2%.

ITW Reports Third Quarter 2025 Results with Record Margin

The ITW Board of Directors approved a 7% increase in the quarterly dividend, raising it by $0.11 per share to $1.61 per share for Q3 2025. This marks another year of dividend growth, demonstrating ITW's commitment to returning value to shareholders while investing in organic growth.

ITW Board Approves 7% Dividend Increase

Christopher A. O'Herlihy became President and Chief Executive Officer of ITW effective January 1, 2024, succeeding E. Scott Santi who became Chairman. O'Herlihy launched the Next Phase of ITW's Enterprise Strategy, placing organic growth as the company's highest priority with a goal to build organic growth into a core ITW strength by 2030.

Christopher O'Herlihy Appointed CEO, Launches Next Phase of Enterprise Strategy

Illinois Tool Works welcomed Mark Thibeault as Executive Vice President of the Polymers & Fluids segment in early 2025. Thibeault brings extensive industry experience to lead one of ITW's seven business divisions as the company pursues its organic growth strategy.

ITW Welcomes Mark Thibeault as EVP of Polymers & Fluids

ITW released its 2024 Annual Report under the theme 'Never stronger. Never better positioned for the future,' highlighting record operating margin of 26.8%, strong free cash flow generation, and strategic positioning for organic growth acceleration. The report detailed progress across all seven business segments and outlined the company's path forward.

ITW 2024 Annual Report Highlights Record Performance

Illinois Tool Works Inc

Illinois - For lab work, BCBS will bill us by each lab test, not per visit?

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Illinois Tool Works downgraded by Goldman with a new price target

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ILLINOIS TOOL WORKS INC

Byron L. Smith and his sons founded Illinois Tool Works in Chicago with an initial capital investment of $22,500 to manufacture gear grinding machines and metal-cutting tools for the expanding midwestern industrial economy.

Company Founded

After Byron Smith's death in 1914, his son Harold C. Smith guided the firm, focusing on production of metal-cutting tools and building the company's engineering capabilities.

Harold Smith Takes Leadership

Illinois Tool Works was formally incorporated, with Harold C. Smith becoming president and establishing the legal foundation for the company's future growth and expansion.

Formal Incorporation

ITW made its first significant acquisition with Shakeproof Screw and Nut Lock Company, establishing a pattern of strategic acquisitions to expand product offerings and market reach.

Shakeproof Acquisition

ITW acquired Heartland Components, a maker of customized replacement industrial parts, beginning an aggressive acquisition strategy that would define the 1980s expansion period.

Heartland Components Acquisition

ITW completed the transformational acquisition of Signode Industries for $524 million, nearly doubling the company's revenues and significantly expanding its packaging and fastening capabilities.

Signode Industries Acquisition

Throughout the 1990s, ITW completed approximately 100 worldwide acquisitions, dramatically expanding the company's global presence and diversifying its product portfolio across multiple industrial segments.

Major Global Expansion

ITW completed the biggest acquisition in its history, a $3.4 billion deal for Premark International, adding the Hobart food equipment brand and significantly expanding the company's food equipment business.

Premark International Acquisition

ITW acquired 22 companies for a net total of more than $625 million, continuing its aggressive acquisition strategy to expand market presence and product capabilities across diverse industrial segments.

22 Company Acquisitions

ITW celebrated its 100-year anniversary and began a significant strategic transformation to simplify its portfolio and improve operational efficiency, marking the start of the Enterprise Strategy era.

100th Anniversary & Strategic Shift

ITW launched the ITW David Speer Academy, a STEM-focused charter high school, demonstrating the company's commitment to education and workforce development in its communities.

ITW David Speer Academy Launch

ITW completed major portfolio simplification efforts, consolidating from over 800 business units to fewer than 85 focused divisions, significantly improving operational efficiency and margins.

Portfolio Simplification Complete

Christopher A. O'Herlihy was appointed President and Chief Executive Officer effective January 1, 2024, succeeding E. Scott Santi who became Chairman. O'Herlihy launched the Next Phase of ITW's Enterprise Strategy with organic growth as the highest priority.

Christopher O'Herlihy Becomes CEO

ITW achieved a record operating margin of 26.8% for full-year 2024 despite revenue headwinds, demonstrating the strength of the company's operational excellence and Enterprise Strategy framework.

Record Operating Margin Achievement

ITW welcomed Mark Thibeault as Executive Vice President of the Polymers & Fluids segment, strengthening leadership as the company pursues its organic growth strategy for 2025-2030.

Mark Thibeault Joins as EVP

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AbbVie is a specialty biopharmaceutical company spun off from Abbott in 2013, focused on developing innovative treatments for complex diseases in rheumatology, dermatology, gastroenterology, oncology, neuroscience, and aesthetics. Ranked 77th on the Fortune 500 with $56.3 billion in 2024 revenues.

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Petition for public access to EMA clinical trial data (AbbVie & InterMune case)

AbbVie Acquires Founders Fund-Backed Stemcentrix for $6B

AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. They have produced drugs to treat a wide range of medical issues. The company is ranked sixth on the list of largest biomedical companies by revenue. It is ranked 77th on the Fortune 500 and 108th on the Forbes Global 2000. The name "AbbVie" is derived from a combination of "Abbott", the name of its former parent company, with "vie", intended as a reference to a Latin root meaning 'life'.

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