Glenview, IL, December 5, 2006--Illinois Tool Works Inc. today acquired all outstanding shares of Polyrey, a leading manufacturer of decorative surfaces such as laminate sheets, boards and engineered components.
Terms of the transaction were not disclosed.
Polyrey will be a wholly owned subsidiary of ITW and part of ITW's existing Wilsonart International business. ITW will continue to operate Polyrey as a separate business under the Polyrey brand name.
"With 2006 estimated revenues of approximately $160 million and operations in France, Belgium, the United Kingdom and Spain, the acquisition of Polyrey expands our footprint in Europe," said Craig Hindman, Executive Vice President of ITW's Wilsonart business. "Polyrey fits well into our portfolio of products and is well positioned to be a significant growth platform for Wilsonart."
