What is the history of Illinois Tool Works Inc.?

Illinois Tool Works Inc. (ITW) is a global diversified manufacturing company with a rich history spanning over 100 years. Founded in 1912, ITW started as a small company based in Chicago, Illinois, specializing in producing metal-cutting tools. Over the years, ITW expanded its product range and entered various industries, including automotive, construction, food equipment, packaging, and more. Through a combination of organic growth and strategic acquisitions, ITW has become a Fortune 500 company. It operates in over 50 countries, serving customers worldwide. ITW's success can be attributed to its decentralized business model, where individual business segments have the autonomy to develop their unique strategies and products. This approach fosters innovation and flexibility, allowing ITW to adapt to changing market demands. Today, ITW continues to thrive through its commitment to customer-focused solutions and a diversified portfolio of industry-leading brands.