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Wilsonart is for sale

Wilsonart International, a major Temple employer and 50-year fixture in the community, is for sale.

Parent company Illinois Tool Works announced Monday its intent to divest the countertop, floor and adhesive manufacturing company from its portfolio.

Founded as Wilson Plastics in 1956 by Ralph Wilson Sr., the company employs about 1,300 in Temple today, and 2,600 nationwide.

Company spokeswoman Alison P. DeMartino said not to be confused by some of the language in the announcement. Even though financial news outlets reported Wilsonart would be classified as “discontinued operations” for third quarter 2008, the company was definitely not closing.

Ms. DeMartino also said there is no reason to expect layoffs. Although new housing construction has lagged this year, the remodeling business is strong.

“We’ve had a really good year,” Ms. DeMartino said. “We’re looking at this as an opportunity. A new owner means new opportunity.”

Wilsonart reported $1.2 billion in revenue for 2007, according to Forbes.com.

Bill DiGaetano, Wilsonart president for North America, said in a letter to employees Monday change was imminent.

“At this point, all I can tell you is that this is the beginning of a process. I for one, feel very good about the opportunities that it presents to our company,” he said.

Some financial observers said trying to sell a company that specializes in decorative services could be difficult in the current business climate.

Illinois Tool Works also announced they were divesting Click Commerce, a $67 million software and consulting company.

 
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