Wilsonart Parent Firm OKs Merger

by WOHe

Wilsonart Parent Firm OKs Merger

Deerfield, IL Premark International Inc., the $2.7-billion
manufacturer of commercial and consumer products and the parent
company of Wilsonart International and Florida Tile has entered
into a multi-billion-dollar merger agreement with Illinois Tool
Works, Inc., the companies announced.

The transaction, valued at some $3.4 billion, combines the assets
of Premark, headquartered here, and the $5.6-billion, Glenview,
IL-based Illinois Tools Works (ITW), a diversified manufacturer of
engineered components and specialty systems worldwide. Aside from
its decorative products unit, which includes Wilsonart and Florida
Tile, Premark operates in business segments that include food
equipment and consumer products.

“We view this as a positive move for our company,” said Alison
DeMartino, a spokesperson for the Temple, TX-based Wilsonart
International. “ITW is a very successful, diversified manufacturer.
With its decentralized operating mode and diversified business
base, it provides an excellent ‘home’ for the Premark business
units.

“We’re anticipating that it will be ‘business as usual’ for
Wilsonart,” DeMartino said. “As part of ITW, we expect to make even
greater progress toward our corporate goals.”

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