GLENVIEW, Ill.--(BUSINESS WIRE)--April 10, 2001--Illinois Tool Works Inc. (NYSE: ITW - news) Welding Products announced yesterday that it has completed the purchase of four welding component businesses: BernardÆ, PlazCraftÆ, WeldCraftÆand K&K WeldingÆ. Acquired from DovaTech Ltd., a subsidiary of Dover Corporation (NYSE: DOV - news), the terms of the sale were not disclosed.
Bernard, Beecher, Ill., manufactures MIG and flux cored welding guns and coolers for TIG and MIG welding. PlazCraft, also in Beecher, manufactures air plasma cutting torches. WeldCraft, Burbank, Calif., manufactures TIG torches. K&K Welding, Lake Zurich, Ill., manufactures aftermarket MIG and TIG welding components and MIG guns. D-Tech Germany is the European sales and manufacturing arm for the businesses.
The four companies become part of the ITW Welding Components Group. Bill Sullivan is vice president and general manager of ITW Welding Components Group.
``These companies bring strong brands built on engineering and customer service,'' says Sullivan. ``This acquisition increases the diversity of our product offering and strengthens the ability of ITW Welding Products to provide a deeper solution to our customers.'' He says that these companies fit ITW's business model and will continue to operate as decentralized, focused factories producing highly engineered products.
Sullivan also notes that the acquisition adds a new sales channel: welding wholesale distribution. ``We haven't participated significantly in this channel until now. We look forward to growing with the wholesalers, as well as the traditional welding supply distributors, to further develop these brands.'' He notes that ITW's distribution partners know ITW for creating state-of-the-art manufacturing facilities, for implementing multiple-brand strategies in the market place and for commitment to its distribution channel.
In addition to Bernard, PlazCraft, WeldCraft and K&K, the ITW Welding Components Group is comprised of Smith Equipment (oxy-fuel cutting, welding and brazing accessories), Tempil (temperature indicators), OXO Welding Equipment Co. (MIG guns), Weld Nozzle International (TIG torches and accessories), National Torch Tip (replacement welding and cutting tips) and Miller Parts and Components.
Over the past eight years, ITW has acquired several welding-related equipment and consumable companies, including Miller Electric Mfg. Co., Hobart Brothers and Arcsmith.
ITW is a $10 billion diversified manufacturer of highly engineered components and industrial systems. The company consists of approximately 600 decentralized operations in 43 countries and employs 55,300 people. Visit ITW's website at http://www.itw.com/.