Illinois Tool Works Acquires Hartness International

PR Newswire

posted: 21 DAYS 6 HOURS AGO

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GLENVIEW, Ill., Nov. 4 /PRNewswire-FirstCall/ -- Illinois Tool Works Inc. (NYSE: ITW) today announced that it has acquired the assets of Greenville, SC-based Hartness International. The company's core business includes line integration, conveyor systems, and line automation for the beverage and food industries. Terms of the transaction were not disclosed.

Hartness International will be a wholly owned business unit of ITW and part of the company's consumer packaging group. In accordance with ITW's decentralized business structure, Hartness International will maintain its brand name and operate as a separate business.

"Hartness International is an important strategic step to grow our consumer packaging business," said ITW Executive Vice President Tim Gardner. "This acquisition complements our existing businesses and will broaden our presence in the consumer packaging market. We will be able to offer our customers a wider range of products and solutions. Hartness is a well-managed, growing business focused on innovation and customer service."

With $17.1 billion in 2008 revenues, ITW is a multinational manufacturer of a diversified range of value-adding and short lead-time industrial products and equipment. The Company consists of 895 business units in 54 countries and employs some 59,000 people.

SOURCE Illinois Tool Works Inc.

2009-11-04 13:00:00