Illinois Tool Works Acquires Schnee-Morehead

DANVERS, MA - ITW Performance Polymers, an Illinois Tool Works company, has acquired Schnee-Morehead Inc. (S-M), a manufacturer of adhesives and sealants for the construction and aerospace industries.

A privately held company based in Irving, Texas, with division offices in California and Georgia, Schnee-Morehead sells approximately 320 products under trademarks including Tacky Tape®, Acryl R®, Permathane®, Pro Installer®, and the phrase "Products To Stick With®." The company manufactures and supplies various butyl products, solution acrylics, urethanes, water-based and warm-applied adhesives, silicones, foam tapes, and other compounds to a worldwide customer base. The company provides products in packages ranging from individual cartridges to 50-gallon drums. It also provides complete solutions - both pumpable and tape sealants - for demanding applications in the door and window, metal building, recreational vehicle, and aerospace industries.

"We are pleased to welcome the talented people of Schnee-Morehead to our team, and we are excited about the opportunities this acquisition presents," comments Dr. David Parry, President of ITW Performance Polymers. "S-M management in Texas will be staying on to oversee day-to-day operations."

Rusty Goger will take over as COO for the retiring President Robert A. Schnee. "This is a great opportunity for us," observes Goger. "With Performance Polymers we'll have the autonomy to run our business, but we'll also have the financial and technical support we need to better serve our customers. This support will allow us to develop new products, improve our manufacturing efficiencies, and seek additional acquisitions to further expand our niche market positions."

A world leader in adhesive technology, ITW Performance Polymers manufactures and sells adhesives and sealants for original equipment manufacturing as well as for maintenance and repair. The company markets its products worldwide to industries such as power generation, processing, marine, automotive, transportation, construction, manufactured housing, and solid surface.

For more information, contact: Paulette Carli, Marketing Communications, ITW Performance Polymers, 30 Endicott Street, Danvers, MA 01923, TEL: (978) 777-1100, FAX: (978) 774-5577,

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