Headquartered in Glenview, IL, Illinois Tool Works Inc. is a worldwide manufacturer of highly engineered products and specialty systems. The company's diversified range of industrial products and equipment are sold in 52 countries (as of 2020 end). The company operates through seven operating business segments. A brief discussion is given below:
Test & Measurement and Electronics: This segment deals with the production of equipment, consumables and related software for testing and measuring materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics. Products are mainly used in automotive original equipment manufacturers and tiers, general industrial, consumer durables and other markets.
Automotive OEM: This segment produces fasteners and components for automotive-related applications. Products are mainly used by original equipment manufacturers in the automotive industry.
Polymers & Fluids: This segment produces lubrication and cutting fluids, sealants, janitorial and hygiene products, adhesives, and fluids and polymers. It serves customers in general industrial, automotive aftermarket and other markets.
Food Equipment: This segment is responsible for production and offering of commercial food equipment and related services. Customers mainly belong to restaurant, food retail and food service markets.
Welding: This segment manufactures arc welding equipment, consumables and accessories. Products are mainly used in general industrial, fabrication, energy, construction, industrial capital goods, and other markets.
Construction Products: This segment produces construction-fastening systems and truss products for commercial construction, residential construction and renovation markets.
Specialty Products: This segment produces product coding and marking equipment and consumables, beverage packaging equipment and consumables, and appliance components and fasteners.