ITW Acquires Hwa Meir Packing
20th September, 2007
Illinois Tool Works Inc. (NYSE: ITW) today announced that it has acquired the assets of Hwa Meir Packing Daily Commodities Co. Ltd., a manufacturer of air-evacuable storage bags. Located in the Guangdong province of China, Hwa Meir will be a wholly owned business unit of ITW and part of the company's existing Minigrip/Zip-Pak/Space-Bag worldwide plastic packaging group. Terms of the transaction were not disclosed.
"As a supplier to ITW Space Bag, the market leader in air-evacuable bags, Hwa Meir fits well into our portfolio of businesses," said John Stevens, vice president and general manager of ITW Space Bag, Minigrip, and Bagco. "Additionally, the acquisition of Hwa Meir helps us expand our growing presence in Asia."
Hwa Meir manufactures special, primarily patented, air-evacuable bags and containers for reduced-space, home/travel storage, and organization. Hwa Meir exports its products into North America, Europe, and Pacific Rim countries.
ITW is a $14.1 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. The company consists of approximately 750 business units in 49 countries and employs some 55,000 people.
Illinois - Diversified - Manufacturer