Illinois Tool Works

In 1912, a spark ignited in Chicago. Not a literal spark, but one of innovation and ambition. That spark was the founding of Illinois Tool Works, right here in this city. Illinois Tool Works, or ITW, began its journey on Huron and Franklin Streets. It was the brainchild of Byron L. Smith, his sons, and a group of seasoned tool-and-die makers from Rockford. Initially, they focused on crafting metal-cutting tools, establishing themselves as experts in their field. By the 1920s, Illinois Tool Works had become a prominent name in the world of metal fasteners. The company grew steadily, and by the mid-1930s, employed around 500 workers in Chicago. After World War II, Illinois Tool Works embraced innovation once again, venturing into the realm of plastic fasteners. This marked a period of rapid expansion. By the mid-1970s, their annual sales had skyrocketed from about $30 million in 1960 to almost $300 million. Their Chicago workforce also grew to around 3,000. The spirit of growth continued into the 1980s, under the leadership of John Nichols. Through strategic acquisitions, including another Chicago-based fastener company, Signode, Illinois Tool Works doubled its size. The momentum didn’t stop there. In the late 1990s, the acquisition of Premark, a local company known for kitchen appliances and plastics, propelled Illinois Tool Works to even greater heights. Their annual sales topped $9 billion, and their Chicago-area workforce neared 5,000. Today, Illinois Tool Works is a Fortune 500 company. It boasts a “small-wins strategy,” emphasizing decentralization, simplicity, customer-focused innovation, and strategic acquisitions. ITW is a global manufacturing powerhouse with approximately 44,000 employees worldwide. It holds over 18,000 granted and pending patents. This demonstrates its unwavering commitment to innovation. From its humble beginnings in Chicago, Illinois Tool Works has grown into a global leader. It has shaped industries and touched countless lives through its products and technologies.