Illinois Tool Works announced that it is initiating a review process to explore strategic alternatives for its Industrial Packaging segment. The Industrial Packaging segment designs and manufactures steel, plastic, and paper products used for bundling, shipping, and protecting transported goods. The segment includes such well known brands as Signode, Strapex, Angleboard and Mima among others and had 2012 revenues of approximately $2.4B. To assist the company in evaluating its strategic alternatives, ITW has retained J.P. Morgan Securities LLC and Goldman, Sachs & Co. as its financial advisers.
- Illinois Tool Works