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ITW's Electronics Group Up 6.1% |
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Written by Mike Buetow
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Monday, 17 March 2008 |
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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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