ITW Acquires Tregaskiss Welding Products
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GLENVIEW, Ill. May 22: Illinois Tool Works Inc. (NYSE: ITW) announced that as of May 18, 2007, it has acquired Tregaskiss Welding Products of Windsor, Ontario, Canada. Tregaskiss is a leading manufacturer of robotic and semi-automatic MIG welding torches and peripherals. Terms of the transaction were not disclosed.
Tregaskiss, a privately held company, employs 179 people and offers its products through welding supply distributors in Canada and the United States. The company will continue to operate independently, which is consistent with ITW's decentralized organizational structure. However, as part of ITW, which also owns Miller Electric Mfg. Co. and Bernard, Tregaskiss will have access to additional R&D, engineering and technical resources. Other ITW welding companies include Hobart Brothers, Jetline Engineering, Smith Equipment, Tempil and Weldcraft.
"The Tregaskiss brand of premium MIG torches is well respected for quality and innovation, especially among high production welding companies," says Mike Weller, president of Miller Electric Mfg. Co. and ITW's welding distribution companies. "We'll build on the strong foundation that Clive Tregaskiss built with the Tregaskiss team, and we look forward to their continued contributions as we work to better meet the needs of end users and distribution partners."
ITW, Glenview, Ill., is a $14.1 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. The Company consists of approximately 750 business units in 49 countries and employs some 55,000 people.
