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Tuesday, February 19, 2013

Illinois Tool Works explores sale of industrial packaging business, (NYSE: ITW)

Illinois Tool Works Inc said it is exploring a sale or spin-off of its industrial packaging business. The industrial packaging unit, which had 2012 revenue of about $2.4 billion, designs and manufactures steel, plastic, and paper products used for bundling, shipping, and protecting transported goods.

Illinois Tool Works Inc. (ITW) is a multinational manufacturer of a diversified range of industrial products and equipment with operations in 58 countries. Shares of ITW remained unchanged at $63.25. In the past year, the shares have traded as low as $49.07 and as high as $65.60. On average, 2335540 shares of ITW exchange hands on a given day and today's volume is recorded at 163285.