Global Fastener News

1981 FIN – ITW Names Nichols President

August 05
00:00 2011

March 6, 1981 FIN –Illinois Tool Works, Inc. (ITW). Chicago, Ill. has named John D. Nichols, 50, as president and chief operating officer, succeeding Harold B. Smith, Jr., 47, who becomes vice president. Silas S. Cathcart remains chairman and chief executive officer of the company.

Nichols was also elected a director of the company. He had been an executive vice president since joining the company. Before that he was a consultant to the company.
Smith, the new vice chairman, had been president and chief operating officer since 1972. His father, Harold B. Smith Sr., was formerly chairman and chief executive officer and he is still chairman of the executive committee.

The Smith family and relatives reportedly own more than 40% of the company’s stock.

ITW is probably best known to our readers for its Shakeproof Division, which makes special industrial fasteners and the Buildex Division, which makes construction fasteners.

But Shakeproof and Buildex actually are only a small part of the business. On the domestic scene the company also has; The Conex Div. (plastic container); Contron Div. (electronic keyboards): Deltar Div. (automotive components); Devcon Corp. (specialty chemical products); Diamed Div. (medical disposables); Hi-Cone Div. (multi-packaging); Illinois/Eclipse Div. (metal cutting tools); Illitron Div. (precision instruments and systems); Lincoln Div. (precision electrical switches); Paktron Div. (electronic components) and Spiroid Div. (special gearing).

The affiliated companies are Computer Products Inc., Fort Lauderdale, Florida; Metallurgical Mapri-Illinois Ltda, Sao Paulo, Brazil; Multipake de Venezuela C.A., Carcas, Venezuela; Nifco., Tokyo, Japan; and Nippon Shakeproof Cot. Ltd., Osaka, Japan.

There are also international subsidiaries in Canada, Australia, Ireland, Mexico, Germany, France, Spain, Italy, Brazil, England and Taiwan.

The fastener and components manufacturing is the largest segment of ITW’s business traditionally accounting for between 44 and 48% of the total company revenue. This segment includes engineered threaded fasteners, precision metal stampings, plastic components, pre-assembled fastener and components, mechanical-chemical fasteners, and specialty chemicals and adhesives. “Teks” self drilling screws, “Hi-Lo” screws and “Keps” are some of the familiar ITW proprietary products in the fastener field. ©1981/2011 Fastener Industry News.




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