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April 2010
To Our Industry Partners:
By any measure, 2009 was one of the most challenging operating environments that the global economy has experienced in decades. Through it all though, Illinois Tool Works Inc. (NYSE: ITW), a Fortune 200 company, has remained resilient, focused and committed to the guiding values and principles that have served the Company so well for nearly 100 years. The very strength of ITW lies in our ability to readily adapt to the market conditions we operate in, and "are guided by ITW's focus on 80/20, innovation and global growth."
So, while "the economic challenges in 2009 were unprecedented," ITW Thermal Films remained focused on these core competitive advantages, and took the necessary actions that would position the company as a whole for long-term sustainable growth. The combination of ITW's global strength and diverse mix of businesses (840 decentralized business units in 57 countries that employ approximately 59,000 women and men) allowed us to "act quickly, adapt and seize opportunities" in order to better navigate the challenges of our operating environment. So while overall earnings and operating income for 2009 were down from 2008, ITW still posted operating revenues of $13.9 billion, was awarded 1,200 new U.S. and foreign patents, held a strong free operating cash flow of $1.9 billion for the full year, made 20 new acquisitions and maintained strong credit ratings.
As a division of ITW, these core strategies lie at the heart of ITW Thermal Films steadfast commitment to providing our customers with unique PrintheadSaver® products, innovative programs like Extreme Solutions™, and why we remain at the forefront of offering our customers industry leading market solutions that help them expand their market share and grow their business. Accordingly, we'd like to take a moment to remind you that with ITW Thermal Films you have the right strategic partner who brings extensive knowledge and expertise to your business, extensive research, development and testing capabilities, premier customer service, a rich history of success and a steadfast commitment to the industry channels to continue delivering sustainable and dependable growth to our customers in the future.
"At ITW, we are driven by our brands and guided by our perspective. This is why ITW works." To download a copy of Illinois Tool Works Inc. 2009 Annual Report, please click here.
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