Illinois Tool Works Inc (ITW.N) could make large acquisitions in coming years, but smaller deals remain its "sweet spot," the industrial conglomerate's vice chairman, David Parry, told an investor conference on Wednesday. "We're seeing a pretty strong pipeline for acquisitions," Parry told the Wells Fargo Securities conference in New York. "There's a lot more activity. It's mostly international rather than domestic. We're seeing a fair bit of activity in emerging markets." ITW, which has grown to about $16 billion in annual sales from $9 billion in 2000, has long used deals as a core part of its strategy. The company, whose products range from welding and packaging equipment to flooring and industrial glue, has said it expects to add $800 million to $1 billion in revenue this year through acquisitions. It aims for deals to add 5 percent to 7 percent a year to its revenue between now and 2015.
Illinois Tool Works Inc. (ITW) is a multinational manufacturer of a diversified range of industrial products and equipment with operations in 57 countries. Shares of ITW fell by 1.08% or $-0.63/share to $57.66. In the past year, the shares have traded as low as $40.33 and as high as $58.79. On average, 2794380 shares of ITW exchange hands on a given day and today's volume is recorded at 900277.
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