Illinois Tool Works Inc. Business Report up until FY ended Dec. 31, 2010
Business Highlights
Recent Years
-In March 2007, the Company announced the purchase of Quasar International, Inc., the inventor of PCRT (Process Compensated Resonant Testing), a revolutionary new NDT (Nondestructive Test) method. Quasar is located in Albuquerque, NM. Terms of the transaction were not disclosed. Quasar will continue to operate as an independent company, and will be associated with MAGNAFLUX, a division of the Company. (From a press release on Mar. 12, 2007)
-In November, 2006, the Company announced that it has acquired Ark-Les Corporation, a leading developer of highly engineered electronic and electromechanical controls. Headquartered in Stoughton, Massachusetts, Ark-Les Corporation was founded in 1937 and has grown to become a global producer of electro-mechanical and electronic: switches, sensors, connectors, controls, user interfaces and actuators. Products of Ark-Les are utilized in many household appliances and automobiles across the world. (From a press release by the company on Nov. 20, 2006)
Acquisition
-In June 2008, the Company's Performance Polymers & Fluids has acquired Stokvis Tape Group B.V. based in The Netherlands. Stokvis provides manufacturers with bonding, sealing, shielding, and other solutions. With 26 facilities in 22 countries, it serves markets include aerospace, automotive, and electronic/electrical. (From a press release on Jun 26, 2008)-In March 2007, the Company announced the purchase of Quasar International, Inc., the inventor of PCRT (Process Compensated Resonant Testing), a revolutionary new NDT (Nondestructive Test) method. Quasar is located in Albuquerque, NM. Terms of the transaction were not disclosed. Quasar will continue to operate as an independent company, and will be associated with MAGNAFLUX, a division of the Company. (From a press release on Mar. 12, 2007)
-In November, 2006, the Company announced that it has acquired Ark-Les Corporation, a leading developer of highly engineered electronic and electromechanical controls. Headquartered in Stoughton, Massachusetts, Ark-Les Corporation was founded in 1937 and has grown to become a global producer of electro-mechanical and electronic: switches, sensors, connectors, controls, user interfaces and actuators. Products of Ark-Les are utilized in many household appliances and automobiles across the world. (From a press release by the company on Nov. 20, 2006)
R&D
R&D Expenditure |
(in thousands dollars) |
| FY2010 | FY2009 | |
| Overall | 213,339 | 191,859 |