posted on July 12, 2011 09:07
GLENVIEW, ILLINOIS—(July 8th, 2011)—Illinois Tool Works Inc. (NYSE:ITW) today announced that it has acquired Teknek, world leader in manufacturing contact sheet cleaning and web cleaning solutions for the electronic and industrial markets. Terms of the transaction were not disclosed. Teknek will be a wholly-owned subsidiary of ITW and will become a part of the company's existing Electrostatics business platform, within the Electronics Group.
In 1984, Teknek invented the process of contact cleaning using a combination of rubber pick up rollers combined with an adhesive roll system. Since then, Teknek, with its distinctive Nanocleen technology, continues to lead the market. Contact cleaning has become the system of choice for many manufacturers where surface contamination has become an issue. Contact cleaning is used in many critical processes such as printed circuit board assembly, printing, and converting. “Teknek’s strong reputation, product development and worldwide footprint compliment ITW’s existing electronic and industrial businesses within the Electrostatics platform, which are marketed under the Simco-Ion, Eltex and Electrostatic Technology brands” said Michael Oldt, Electrostatics Group General Manager.
Teknek’s operations will continue unchanged and customers can expect to receive the same high level of support and innovation in the future that they have enjoyed in the past. Teknek’s corporate office is located in Glasgow, Scotland with other facilities throughout the world.
With nearly 100 years of history, Illinois Tool Works Inc. (NYSE: ITW) is a Fortune 200 global diversified industrial manufacturer. The Company's value-added consumables, equipment and service businesses serve customers in developed as well as emerging markets around the globe. ITW's key business platforms, including welding, automotive OEM, industrial packaging, food equipment, construction, polymers and fluids, test and measurement, electronics, decorative surfaces and automotive aftermarket, employ more than 60,000 people worldwide. ITW's revenues totaled $15.9 billion in 2010, with more than half of these revenues generated outside of the United States.
To learn more, please visit www.teknek.com or www.itw.com.