Illinois Tool Works Acquires SOPUS Products' Car Care Business

Mar 01, 2011, 09:00 ET from Illinois Tool Works Inc.

GLENVIEW, Ill., March 1, 2011 /PRNewswire/ -- Illinois Tool Works Inc. (NYSE: ITW) today announced that it has acquired SOPUS Products' Car Care business, a leading automotive aftermarket consumer products portfolio. SOPUS Products' Car Care business includes the appearance and performance chemical and windshield wiper blade brands of Pennzoil–Quaker State Company dba SOPUS Products, a subsidiary of Shell Oil Company. Terms of the transaction were not disclosed.

SOPUS Products' Car Care business includes such well known brands as Rain-X®, Black Magic® and Gumout®, among others. The portfolio offers vehicle owners a comprehensive range of products for improving windshield visibility, protecting and cleaning vehicles, and improving vehicle performance. 2010 revenues were approximately $300 million. "We believe this portfolio of car care products complements and augments our existing automotive aftermarket platform, which includes Permatex, Wynn's and Slime," said David Parry, ITW vice chairman. "With this acquisition, ITW is well positioned to continue to expand its car care solutions for customers around the world."

About ITW

With nearly 100 years of history, Illinois Tool Works Inc. (NYSE: ITW) is a Fortune 200 global diversified industrial manufacturer. The Company's value-added consumables, equipment and service businesses serve customers in developed as well as emerging markets around the globe. ITW's key business platforms, including welding, automotive OEM, industrial packaging, food equipment, construction, polymers and fluids, test and measurement, electronics, decorative surfaces and automotive aftermarket, employ more than 60,000 people worldwide. ITW's revenues totaled $15.9 billion in 2010, with more than half of these revenues generated outside of the United States.

SOURCE Illinois Tool Works Inc.