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SMT & Inspection | July 20, 2006

Kester Acquired by Illinois Tool Works Inc.

Kester announces that it has been bought by Illinois Tool Works Inc. of Glenview, Ill. ITW has acquired all of the shares of Kester. Terms of the transaction were not disclosed.
Based in Des Plaines, Illinois, Kester's products provide a critical functional linkage between the various components assembled onto printed circuit boards. The company's products are also used in the manufacture of a number of microelectronics subassemblies. Major end users include manufacturers of computers, communications devices, consumer products, medical equipment and military/defense products.

With estimated 2006 revenues of $175 million, Kester has a strong worldwide presence. Currently, more than 40 percent of the company's revenues emanate from Asia. The remaining revenues are North American, European and South American based.

Roger Savage, Kester's President, believes the acquisition of Kester by ITW will significantly improve customer satisfaction. “ITW has a great foundation in engineered products-based business units, which is a great fit for the Kester portfolio of products. With strong market position and great brand name recognition, Kester increases the overall shareholder value. Applying ITW's business strategies, which are centered upon 80/20 methodologies, Kester will become a stronger, more focused business unit. The business systems and infrastructure that ITW brings to Kester will keep Kester one generation ahead of its competitors.”

ITW is a $12.8 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. The Company consists of approximately 700 business units in 48 countries and employs approximately 50,000 people.

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