Illinois Tool Works To Sell Wilsonart, Others

Glenview, IL, Aug. 11, 2008--Equipment maker Illinois Tool Works Inc. said Monday it plans to sell  Wilsonartand its related laminate businesses.

Goldman Sachs is advising Illinois Tool Works on the divestiture process. Illinois Tool Works acquired Wilsonart in 1999.

The company also plans to sell its Click Commerce industrial software business, acquired in 2006.

Illinois Tool Works said the businesses have proven to be different business models than the typical, industrial-based Illinois Took Works operation.

The businesses will be classified as discontinued operations in the third quarter of 2008.