| ITW's Electronics Group Up 6.1% |
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| Written by Mike Buetow | |||
| Monday, 17 March 2008 05:16 | |||
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GLENVIEW, IL – Illinois Tool Works’ power systems and
electronics group reported sales rose 6.1% year-over-year for the period ended
Feb. 29. Meanwhile, speculation abounds over a possible acquisition of a leading soldering equipment OEM. ITW is the parent company of Speedline Technologies, Simco, Chemtronics and Kester, among others. ITW reported operating revenues rose 13.8% on acquisitions and currency fluctuations. The company lowered its 2008 first quarter and full-year earnings estimates due to two special charges with an estimated pretax effect totaling $127 million. The company guided for revenue growth of 8 to 11% for the quarter and 6 to 10% for the year. Various outlets are reporting that ITW will acquire Vitronics Soltec, a top supplier of soldering equipment. An ITW spokeswomen declined comment, saying the company does not comment on any potential transactions until they are completed.
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| Last Updated on Monday, 17 March 2008 07:12 |
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