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itw_narrative1
Illinois Tool Works Inc. (ITW) is a Fortune 200 company with $9.3 billion in revenues from its 600 business units across 43 countries. ITW produces highly engineered fasteners, components, equipment and specialty products. In 2001, revenues declined 2% to $9.3 billion due to a 7% drop in base business from economic weakness. Operating income and earnings per share declined 17% from their record levels in 2000. However, ITW is well positioned for growth as the economy recovers due to its focus on customer relationships, decentralized structure, and ongoing acquisition strategy.
