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November 18, 2012
13:07 EDTITWIllinois Tool Works CEO David Speer passes away; Scott Santini elected CEO
ITW is deeply saddened to announce that ITW Chairman & CEO David B. Speer has passed away after an illness. Effective immediately, E. Scott Santi, 51, has been elected CEO to succeed Mr. Speer. He has also been elected to ITW's board of directors. Mr. Santi was elected president and chief operating officer in October. At that time, he also was named acting chief executive officer in light of Mr. Speer's medical leave. Robert S. Morrison, 70, has been elected non-executive chairman of the board of directors. He was named acting non-executive chairman in October and has been an independent director since 2003.
News For ITW From The Last 14 Days
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November 17, 2015
15:36 EDTITWAirgas deal potentially negative for Lincoln Electric, says RBC Capital
RBC Capital analyst Matthew McConnell Air Liquide's acquisition of Airgas (ARG) opens the possibility that the French company could enter the market for U.S. welding equipment manufacturing, which is currently concentrated with top three players Lincoln Electric (LECO), Illinois Tool Works (ITW) and Colfax (CFX). The firm, which assumes that roughly 8% of Lincoln Electric's total sales go through Airgas, said the merger deal is most relevant for Lincoln, but also potentially negative for the other two. The firm keeps Sector Perform ratings on Lincoln, Illinois Tool and Colfax.

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