Global industrial company Illinois Tool Works (ITW) has announced the initiation of a review process to explore strategic options to sell or spin-off of its Industrial Packaging segment.
The company's packaging segment, which reported revenues of about $2.4bn in 2012, designs and manufactures steel, plastic, and paper products used for bundling, shipping and protecting transported goods.
Industrial Packaging segment includes brands such as Signode, Strapex, Angleboard and Mima among others.
The latest announcement is part of the execution of ITW's enterprise strategy and portfolio management initiative.
According to the US-based company, the review process will last through the remainder of 2013.
Source:
http://www.packaging-business-review.com/news/itw-plans-sale-of-packaging-segment-200213
