Illinois Tool Buys Despatch Industries
GLENVIEW, Ill. (AP) - Illinois Tool Works Inc., which makes industrial tools and products, said recently that it has acquired Despatch Industries, which provides thermal processing equipment for the solar and thermal technology markets.
Terms of the deal were not disclosed.
Illinois Tool said Lakeville, Minn.-based Despatch was founded in 1902 and is expected to post sales of more than $200 million for this year. Its products include solar cell firing furnaces, carbon fiber process ovens, and batch thermal processing equipment.
Shares of Illinois Tool, which is based in Glenview, Ill., rose 6 cents to $57.03 in morning trading last Monday.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
Latest Stories
- Cook County Assessor’s Office Hosts Inaugural Neighborhood Housing Forum
- Celebrity Chef Carla Hall and The Fresh Market Team Up to Support Alzheimer’s Association During Month of June
- ONYX MEDICAL WELLNESS CELEBRATES GRAND OPENING & RIBBON CUTTING IN CHICAGO’S SOUTH SHORE DURING PRIDE MONTH
- 5th Annual Cook County Juneteenth Illinois Celebration to Be Held June 14th
- “NO MORE CUTS TO KIDS’ FUTURES”
Latest Podcast
STARR Community Services International, Inc.
