ITW's Electronics Group Up 6.1% PDF Print E-mail
Written by Mike Buetow   
Monday, 17 March 2008 05:16
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.
Last Updated on Monday, 17 March 2008 07:12
 

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