Illinois Tool Works

Illinois Tool Works Inc.
Company typePublic
NYSE: ITW
S&P 500 Component
IndustryManufacturing
Founded1912; 112 years ago (1912)
FounderByron L. Smith
HeadquartersGlenview, Illinois, U.S.
Area served
Worldwide
Key people
  • E. Scott Santi (Chairman)
  • Christopher A. O'Herlihy (President & CEO)
RevenueIncreaseUS$14.1B (2019)[1]
Number of employees
45,000 (2019)[2]
Websitewww.itw.com Edit this at Wikidata

Illinois Tool Works Inc. or ITW is an American Fortune 200[3] company that produces engineered fasteners and components, equipment and consumable systems, and specialty products. It was founded in 1912 by Byron L. Smith and has built its growth on a "small-wins strategy" based on decentralization, simplicity, customer-focused innovation, and acquisitions.[4]

Today, it employs approximately 45,000 people[5] in hundreds of businesses across 53 countries,[6] and is based in Glenview, Illinois, a suburb of Chicago.

ITW has more than 18,000 granted and pending patent applications worldwide.[6] The company typically ranks in the top 100 of patent issuers in the U.S.[citation needed]

  1. ^ investor.itw.com
  2. ^ "ITW | Global Diversified Manufacturer". Archived from the original on 2019-06-05. Retrieved 2019-06-05.
  3. ^ "Fortune 500 List of Companies 2022". Fortune. Retrieved 1 July 2021.
  4. ^ Nitin Pangarkar (12 February 2019). "Illinois Tool Works: Making a big impact with small‐wins strategy". Global Business and Organizational Excellence. 38 (3): 18–25. doi:10.1002/JOE.21919. ISSN 1932-2054. Wikidata Q104920246.
  5. ^ "Illinois Tool Works". ITW.com. Archived from the original on 2018-11-23. Retrieved 2018-11-23.
  6. ^ a b "ITW website". ITW. Archived from the original on 2016-08-18. Retrieved 2016-08-04.