Illinois Tool Works Inc. (ITW) is a Fortune 300 global manufacturing powerhouse established in 1912, renowned for its entrepreneurial spirit and innovative solutions. With a revenue of $16.1 billion in 2023, ITW operates through seven diversified segments: Automotive OEM, Construction Products, Food Equipment, Polymers & Fluids, Specialty Products, Test & Measurement and Electronics, and Welding. The company's success is driven by its proprietary ITW Business Model, which encompasses the unique 80/20 Front-to-Back Process, Customer-Back Innovation, and a decentralized corporate culture that empowers employees to act like entrepreneurs.
ITW’s global footprint spans across 51 countries, employing approximately 45,000 colleagues, who contribute to a culture centered around integrity, simplicity, and customer focus. The company is dedicated to driving organic growth while maintaining best-in-class margins and returns, demonstrated by an impressive growth trajectory since launching its Enterprise Strategy in 2012, which has significantly enhanced its operating efficiency and shareholder value.
ITW prides itself on its commitment to sustainability and ethical governance, aligning its operations with responsible environmental practices and community engagement. With nearly 19,600 granted and pending patents, ITW continuously innovates from the customer back, ensuring that every product developed addresses the specific challenges faced by its clients. As ITW transitions into the next phase of its enterprise strategy, the focus remains on organic growth and enhancing its customer-back innovation capabilities, further solidifying its position as one of the world’s leading industrial companies.
