Industrial Instruments Manufacturer Acquires Despatch Industries
Beijing time, July 25th evening news - Industrial instruments and products manufacturer Illinois Tool Works Inc. (ITW) announced on Monday that it had acquired Despatch Industries, a company that provides thermal processing equipment for the solar and thermal technology markets.
The financial terms of this transaction were not disclosed.
ITW stated that Despatch is headquartered in Lakeville, Minnesota, and was founded in 1902. Its product range includes solar cell sintering furnaces, carbon fiber processing furnaces, and batch heat treatment equipment. The company's revenue for 2011 is expected to exceed $2 billion.
Illinois Tool Works Inc. (ITW Group Corporation) is a multinational manufacturing group company listed among the Fortune 200 in the United States. Its headquarters are located in Glenview, Illinois, with an annual turnover exceeding $14 billion. ITW is dedicated to producing high-tech products and solutions for global customers. ITW is a diversified manufacturing company with more than 750 subsidiaries in 48 countries worldwide. It serves industries such as construction, industrial, automotive manufacturing, food and beverage, food equipment, industrial complementary products, paper products, consumer durables, and electronics.
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