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2024 ASI Top 20: Illinois Tool Works Inc.

Founded in 1912, Illinois Tool Works is a multi-industrial manufacturing company operating in seven industry segments and employing approximately 46,000 people.


ITW produces adhesives and sealants and related products in two of its seven business segments. (The company declined to provide specific adhesives/sealants-related sales and other details.) Total revenue increased by approximately 1% in 2023, to nearly $16.1 billion.


Among many other products, ITW’s Polymers & Fluids business produces industrial, construction, and consumer adhesives, as well as sealants. The division’s revenue of $1.8 billion accounted for 11% of ITW’s ’s total revenue in 2023. The division’s sales decreased by approximately 5.3% compared to the prior year.


The Test & Measurement and Electronics division produces pressure-sensitive adhesives for applications in electronics, medical, transportation, and telecommunications (among many other products). Sales for that division increased by 0.5% compared to 2022, reaching $2.83 billion for the year. The division accounted for 18% of ITW’s overall 2023 sales.


NOTES: In early 2024, E. Scott Santi retired as chief executive officer; Christopher A. O’Herlihy was appointed president and CEO in January 2024.

Opening image courtesy of courtesy of Bramantya W.J. / Creatas Video+ / Getty Images Plus.

No. 10 | Illinois Tool Works Inc.

Glenview, Illinois
www.itw.com
President and CEO: Christopher A. O’Herlihy
Sources: company website, annual report, press releases




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