SMT & Inspection | March 28, 2008
Illinois Tool Works acquires Vitronics Soltec
Illinois Tool Works Inc. today announced that it has acquired all of the outstanding shares of VS Acquisition Holding Inc., the parent company of Vitronics Soltec Corporation. Terms of the transaction were not disclosed.
VS Acquisition Holding Inc. will be a wholly owned business unit of ITW and part of the company's existing power systems and electronics businesses. ITW will continue to operate VS Acquisition Holding Inc. as a separate business under the Vitronics Soltec brand name. Vitronics Soltec Corporation is based in Stratham, New Hampshire, with affiliates in Oosterhout, Holland and Suzhou, China. Direct sales and support centers are located in the United States, Holland, Germany, Singapore, Malaysia, Korea and Shanghai. ITW is a $16.2 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. The company consists of approximately 825 business units in 52 countries and employs some 60,000 people. ITW also owns the Speedline Technology group and Kester among others.