Will ITW sell its plastics recycling assets?
By Editorial Staff, Resource Recycling
ITW, the giant conglomerate with over 800 businesses under its banner, wants to downsize to about 120 firms. This may affect ITW’s plastics recycling operations.
The century-old firm, with $18 billion per year in sales, is considering a plan where it would spin off its industrial packaging division, which has revenues of $2.4 billion annually. According to published reports, ITW wants to keep companies that can help it attain a 20 percent operating margin by 2017, and the industrial packaging sector only generates a 12 percent margin.
Included in ITW's packaging holdings are ITW Signode, which operates a PET recycling plant in Florence, Kentucky, and Blue Ridge Plastics, the Eden, North Carolina processor of PE, PET, PP and PVC.