Santi, a director of W.W. Grainger, will also serve as acting CEO.
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Latest In Illinois Tool Works
Clayton, Dubilier & Rice, the private equity firm buying the segment, will pay $1.05 billion.
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North American revenues for ITW were up 5.3 percent.
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Organically, sales grew 5.9 percent in the quarter.
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Some segments saw 20%+ increases in sales.
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Organic sales grew 6 percent in the three-month period.
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Full-year 2011 revenues for Despatch are expected to be $200 million.
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ITW organic growth was 11.7 percent.
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Graco will buy the businesses.
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Organic revenues for the diversified manufacturer increased 9%.
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ITW’s sales in the fourth quarter up 11%.
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ITW agrees to buy Shell SOPUS Products’ car care business.
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Revenue growth for the diversified manufacturer driven by a broad increase in demand in consumer and industrial end markets.
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Consumer confidence, dealer incentives have pushed auto sales to recent highs.
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ITW sees strength in automotive OEM, polymers and fluids, industrial packaging, and PC board fabrication.
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Overall operating revenues for the diversified manufacturer increased 10%.
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Improvement from fourth quarter due to easier January comparisons and improvement in North American automotive OEM end market.
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Base revenues for the diversified manufacturer declined 10%.
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ITW sector revenues varied, but all were down from the previous period.
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Base revenues for the diversified manufacturer declined 17% in the three-month period.
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