Illinois Tool Works (ITW) Aims to Outpace Global Industrial Production by 200 bp Through FY17

Illinois Tool Works Inc. (NYSE: ITW) today will detail its five-year enterprise strategy and key initiatives at its annual investor meeting in New York City. During the meeting, the Company will outline its enterprise performance goals and the key initiatives that will drive them: Portfolio Management, Business Structure Simplification and Strategic Sourcing.

By 2017:

• Organic Growth: 200 basis points above global industrial production
  
  
• Pre-Tax Operating Margins: 20%+
  
  
• ROIC: 20%+
  
  
• Free Cash Flow Conversion: 100%+ over the five-year period

Key management participants in the Investor Day will include President and Chief Executive Officer Scott Santi; Vice Chairman David Parry; and Chief Financial Officer Ron Kropp.

"The focus of our 2012-2017 Enterprise Strategy is to position ITW to maximize the company's performance and returns in the context of an increasingly challenging external environment," said Scott Santi, president and chief executive officer. "Our plan focuses the company on generating maximum leverage and impact from ITW's unique and differentiated core capabilities – our 80/20 business model, sustainable differentiation, and our entrepreneurial culture – by deploying these capabilities in ways we believe will maximize their relevance and impact. We will be the same ITW – only more focused, more efficient, and more streamlined in order to continue to generate consistent profit growth and strong returns throughout this plan period and beyond."

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