Illinois Tool Works Inc.

Illinois Tool Works Inc. is a global multi-industrial manufacturer with $15.9 billion in annual revenue and a place in the Fortune 300. Founded in Chicago in 1912, the company employs approximately 45,000 people and serves customers in roughly 55 countries. Its portfolio spans seven market-leading segments and more than 80 decentralized businesses.

Technical domains at ITW include engineered fastening solutions, welding equipment, polymers, food equipment, automotive components, construction products and manufacturing engineering. Product lines are supplied to industrial and manufacturing customers, automotive manufacturers, the food industry and the construction sector, among other verticals.

The company operates through a decentralized model that places operating responsibility with local divisions while drawing on the resources of a larger enterprise. Stated characteristics of the approach include rapid decision-making, customer-back innovation, continuous operational improvement, deep customer relationships and technical expertise, and disciplined capital allocation through strategic portfolio management.