ITW Outlines 2012-2017 Key Initiatives and Enterprise Performance Goals at
Annual Investor Meeting
GLENVIEW, Ill., Dec. 14, 2012
GLENVIEW, Ill., Dec. 14, 2012 /PRNewswire/ -- Illinois Tool Works Inc. (NYSE:
ITW) today will detail its five-year enterprise strategy and key initiatives
at its annual investor meeting in New York City. During the meeting, the
Company will outline its enterprise performance goals and the key initiatives
that will drive them: Portfolio Management, Business Structure Simplification
and Strategic Sourcing.
Enterprise Performance Goals
- By 2017:
*Organic Growth: 200 basis points above global industrial production
*Pre-Tax Operating Margins: 20%+
*Free Cash Flow Conversion: 100%+ over the five-year period
Key management participants in the Investor Day will include President and
Chief Executive Officer Scott Santi; Vice Chairman David Parry; and Chief
Financial Officer Ron Kropp.
"The focus of our 2012-2017 Enterprise Strategy is to position ITW to maximize
the company's performance and returns in the context of an increasingly
challenging external environment," said Scott Santi, president and chief
executive officer. "Our plan focuses the company on generating maximum
leverage and impact from ITW's unique and differentiated core capabilities –
our 80/20 business model, sustainable differentiation, and our entrepreneurial
culture – by deploying these capabilities in ways we believe will maximize
their relevance and impact. We will be the same ITW – only more focused, more
efficient, and more streamlined in order to continue to generate consistent
profit growth and strong returns throughout this plan period and beyond."
The Investor Day presentation will begin at 9:00 a.m. ET and will conclude at
12:00 p.m. ET. The Company's webcast, featuring a synchronized slide show of
management presentations, can be accessed via its website at www.itw.com.
Interested participants should then access the investor information tab. The
webcast replay will be available through midnight on December 31, 2012.
The remarks made by ITW representatives at this meeting contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 including, without limitation, statements
regarding operating income, organic revenue growth, growth in operating
margins and return on invested capital, end market conditions, free operating
cash flow and the Company's related forecasts. Forward-looking statements
may be identified by the use of words such as "believe," "expect," "plans,"
"intends," "strategy," "prospects," "estimate," "project," "target,"
"anticipate," "guidance," and other similar words, and are subject to certain
risks, uncertainties, and other factors which could cause actual results to
differ materially from those anticipated. Important risks that could cause
actual results to differ materially from the Company's expectations include
those that are detailed in ITW's Form 10-K for 2011 and Form 10-Q for the
third quarter of 2012.
Celebrating its 100-year anniversary in 2012, ITW (NYSE: ITW) is a Fortune 150
global diversified industrial manufacturer of value-added consumables and
specialty equipment with related service businesses. The company focuses on
profitable growth and strong returns across worldwide platforms and
businesses. These businesses serve local customers and markets around the
globe, with a significant presence in developed as well as emerging markets.
ITW's revenues totaled $17.8 billion in 2011, with more than half of these
revenues generated outside of the United States.
The Company will be using certain non-GAAP measures in talking about our
performance. Refer to the appendix of the management presentation at the
Company's website under the "Investor Relations" tab for additional
information on these non-GAAP measures.
SOURCE Illinois Tool Works Inc.
Contact: John L. Brooklier, +1-847-657-4104, firstname.lastname@example.org
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