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ITW ACQUIRES THE MILLER GROUP LTD

 GLENVIEW, Ill., Feb. 22 /PRNewswire/ -- In a joint announcement, Illinois Tool Works Inc. (NYSE: ITW) of Glenview, Ill., and The Miller Group Ltd. of Appleton, Wis., announced today an agreement whereby ITW will acquire the stock of The Miller Group.
 ITW is a diversified multinational manufacturer of highly engineered components, assemblies and systems which reported 1992 revenues of $2.8 billion. The company has approximately 200 principal operations in more than 35 countries and employs nearly 18,000 people. John D. Nichols, chairman of ITW, said that "The Miller Group brings to ITW a very strong industry position in arc welding built on an excellent reputation for quality, service and technical innovation. While the technology and products will be new to ITW, we believe there are many similarities between our cultures and approach to business. The Miller Group will enhance our presence in global markets and will add to our overall technical, manufacturing and distribution strength." Nichols further stated, "As has been our tradition, we intend for Miller to operate as a separate entity and to maintain its identity as a world-class manufacturer."
 The Miller Group, through its largest subsidiary, Miller Electric Manufacturing Co., is a global marketer of arc welding equipment and related systems with annual sales in excess of $250 million. The company was founded in 1929 and has remained privately held since its inception. Its major product lines are transformer/rectifier welding power sources, gas and diesel engine-driven power sources, spot welding equipment, semi-automatic and automatic welding equipment, robotic welding systems and plasma cutting equipment. The company markets its products throughout the world with principal manufacturing locations in Appleton, Wis., and Milan, Italy.
 Speaking of the fit with ITW, William Calkins, vice chairman of The Miller Group and spokesperson for the shareholders, stated, "We believe the fit with ITW is an excellent one." Referring to ITW's position of 38th overall among the Fortune magazine's "Most Admired American Corporations," Calkins continued, "We feel the overall strength of ITW and their management approach will provide The Miller Group a terrific environment in which to continue to grow and prosper. Miller and ITW have many things in common regarding the basic philosophies of doing business. We believe ITW will benefit from the totally new technology and product lines which we bring to the combination, and that we will benefit from ITW's financial and organization strength."
 -0- 2/22/93
 /CONTACT: Michael Gregg or Linda Williams of ITW, 708-657-4104/
 (ITW)


CO: Illinois Tool Works Inc. ST: Illinois IN: SU: TNM

PS -- NY035 -- 8865 02/22/93 10:17 EST
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Publication:PR Newswire
Date:Feb 22, 1993
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