Illinois Tool Works Acquires GSE Scale Systems
Glenview, IL-January 6, 2009-Illinois Tool Works Inc. (NYSE: ITW) today announced it has acquired GSE Scale Systems product line from SPX Corporation (NYSE: SPW). A global leader in programmable weight indicators and scales, GSE Scale Systems will become a business unit of ITW and part of the company's Test and Measurement group, where it will join with Avery Weigh-Tronix, a leading global manufacturer of high quality industrial weighing products and systems. Terms of the transaction were not disclosed.
The acquisition of GSE will facilitate the pooling of technological resources and complimentary capabilities by two leaders in weight indicators and scale systems. This is intended to provide greater value and product innovations to customers as well as a broader reach to the global marketplace. "Avery Weigh-Tronix is one of the leading industrial scale and weighing system manufacturers in the world and the acquisition of GSE significantly strengthens our business," said Andrew Caffyn, CEO of Avery Weigh-Tronix. "The addition of GSE equipment will bring a new depth to our existing product line," added Mr. Caffyn. "They have a strong product portfolio and are a leading supplier of indicators with a great reputation in the marketplace."
Avery Weigh-Tronix is headquartered in Birmingham, England with operations in North America, Ireland, France, Austria, India, Malaysia and China. GSE operates primarily in the U.S., with export business to Europe, Mexico, and Central and South America.
About ITW
With $14.9 billion in revenues, ITW is a diversified and value-added manufacturer of highly engineered components and industrial systems and consumables. The Company consists of approximately 825 business units in 52 countries and employs some 60,000 people. For more information, visit itw.com
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