Illinois Tool Works Inc.

Illinois Tool Works Inc. (ITW) is a diversified multi-industrial manufacturer founded in Chicago in 1912 and headquartered there today. A Fortune 300 company, ITW reported annual revenue of $15.9 billion and employs approximately 45,000 people, serving customers in roughly 55 countries.

The company operates more than 80 decentralized businesses across seven market-leading segments. Its technical domains span engineered fastening solutions, welding equipment, polymers and related engineered materials, food equipment, automotive components, construction products and manufacturing engineering. Work is concentrated in industries including automotive, foodservice, construction, welding, fastening and polymers.

ITW's operating model is decentralised: local divisions are empowered to act with entrepreneurial autonomy while drawing on global scale and resources. The company cites rapid decision-making as a consequence of this structure, alongside customer-back innovation grounded in deep customer relationships and technical expertise, and continuous operational improvement. Capital allocation and portfolio management are described as disciplined and strategic.

The business focuses on industries where product performance matters most to customers, shaping the engineering and manufacturing work carried out across its divisions.