ITW Announces Strategic Review of Industrial Packaging Segment

        ITW Announces Strategic Review of Industrial Packaging Segment

PR Newswire

GLENVIEW, Ill., Feb. 19, 2013

GLENVIEW, Ill., Feb. 19, 2013 /PRNewswire/ --Illinois Tool Works Inc. (NYSE:
ITW) today announced that it is initiating a review process to explore
strategic alternatives for its Industrial Packaging segment. The Industrial
Packaging segment designs and manufactures steel, plastic, and paper products
used for bundling, shipping, and protecting transported goods. The segment
includes such well known brands as Signode, Strapex, Angleboard and Mima among
others and had 2012 revenues of approximately $2.4 billion.

"As part of the execution of ITW's enterprise strategy and portfolio
management initiative, we are starting a process to explore strategic options
for our Industrial Packaging segment, which may include a sale or spin-off of
the business," said E. Scott Santi, president and chief executive officer. "We
expect the review process will last through the remainder of 2013."

To assist the company in evaluating its strategic alternatives, ITW has
retained J.P. Morgan Securities LLC and Goldman, Sachs & Co. as its financial
advisers.

ITW is a Fortune 150 global diversified industrial manufacturer of value-added
consumables and specialty equipment with related service businesses. The
company focuses on solid growth and strong returns across its 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 pro forma revenues totaled $17.0 billion in 2012, with more
than half of these revenues generated outside of the United States.

SOURCE Illinois Tool Works Inc.

Website: http://www.itw.com
Contact: John Brooklier, +1-847-657-4104, jbrooklier@itw.com
 
Press spacebar to pause and continue. Press esc to stop.