ITW Base Business Down 6%
ITW Base Business Down 6%
John Wolz
Illinois Tool Works Inc. reported flat operating revenues for the three months ended July 31, 2001. Operating revenues consisted of 8% growth from acquisitions from the same period of 2000, offset by a 6% decline from base businesses and a 2% decrease due to currency translation.//
According to an ITW statement, “the revenue performance for the three-month period was directly attributable to the weak North American economy,” including automotive, general industrial and construction markets.
Revenue from North American engineered products were down 7% from the same period last year, though global engineered product sales were up 12%.
North American specialty systems revenue rose 8% and global were up 3%. Consumer products dropped 11%. Web: itw.com �2001 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment