ITW Sales Flat for Quarter
ITW Sales Flat for Quarter
John Wolz
Illinois Tool Works Inc. reported sales were flat for the fiscal three months ended May 31, 2001. Acquisitions increased total revenue 8%, compared with the same period of 2000, but that was offset by a 6% decline in sales from base businesses and a 2% decrease die to currency translation.
ITW attributed the lower revenue to “continued slowing in a wide variety of the company�s North American end markets, including automotive, general industrial and construction.
North American engineered products revenue was down 6%, compared with international rising 12%. North American specialty systems were up 5%, international up 7% and consumer products down 13%.
ITW is a $10 billion diversified manufacturer of engineered components and industrial systems with 600 operations in 43 countries. Web: itwbrands.com �FastenerNews.com
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