Illinois Tool Works
Template:Short description Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters".
Illinois Tool Works Inc. (ITW) is an American Fortune 500[1] company that produces engineered fasteners and components, equipment and consumable systems, and specialty products. It was founded in 1912 by Byron L. Smith and has built its growth on a "small-wins strategy" based on decentralization, simplicity, customer-focused innovation, and acquisitions.[2]
since 2024[update]Template:Dated maintenance category (articles)Script error: No such module "Check for unknown parameters"., ITW employed 44,000 employees in 51 countries and held 20,900 granted and pending patent applications worldwide.[3] The company is based in Glenview, Illinois, a suburb of Chicago.
ITW subsidiaries
ITW comprises a number of subsidiaries. Notable brands include Hobart, Miller Electric, Paslode, Foster Refrigerator,[4] Brooks Instrument, and Permatex adhesives. In August 2018, U.S. Tax Court Judge Albert G. Lauber determined that ITW owed no tax on over $356 million in repatriated funds from its foreign subsidiaries because the transactions had been sufficiently structured as debt.[5]
Illegal exports
The United States Department of Commerce imposed a $142,000 civil penalty on Illinois Tool Works in 2000, to settle allegations that the company illegally exported chemicals to Brazil on seven occasions between March 1994 and October 1997 without the required licenses and making false or misleading statements on Shipper's Export Declarations. Illinois Tool Works agreed to pay the penalty. $37,000 was suspended as part of the settlement. The chemicals exported can be used for commercial purposes and in the making of chemical weapons as well.[6]
References
<templatestyles src="Reflist/styles.css" />
- ↑ Script error: No such module "citation/CS1".
- ↑ Template:Cite Q
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Template:Bluebook journal
- ↑ Script error: No such module "citation/CS1".
Script error: No such module "Check for unknown parameters".
External links
- Script error: No such module "Official website".Script error: No such module "Check for unknown parameters".
- Business data for Illinois Tool Works: Template:Hlist
Template:Illinois Tool Works Script error: No such module "Navbox". Template:Authority control
- Pages with script errors
- Tool manufacturing companies of the United States
- Manufacturing companies based in Illinois
- Companies based in Glenview, Illinois
- Manufacturing companies established in 1912
- 1912 establishments in Illinois
- Companies listed on the New York Stock Exchange
- Companies in the S&P 500 Dividend Aristocrats