ITT Acquires F.B. Leopold Company Inc.

23.06.2006

ITT has acquired the F.B. Leopold Company based in Zelienople, PA. Leopold serves a number of markets, primarily municipal and industrial water and wastewater treatment facilities.

This acquisition expands ITT's ability to provide pre-treatment filtration technology for surface water, reuse and desalination, which is essential to providing clean water and in meeting current and future regulatory requirements.

"With Leopold, ITT will build on our global leadership position in water treatment, reuse and disinfection. We will also be able to extend Leopold's market leadership position in the North American water treatment market to other global markets," said Hank Driesse, President of ITT Fluid Technology.

Founded in 1924, Leopold, with annual revenues of approximately $50 million, is a leader in clarification and gravity filtration technology. Its products include clarification systems, dissolved air flotation systems, filter-under-drain systems, anthracite based filters, nutrient removal filters, sludge collectors and automatic filter control systems. This technology, as used by water treatment utilities, is growing in importance in wastewater reuse and desalination and plays an important role in wastewater treatment filtration.

"This acquisition is part of our strategy of transforming ITT from a provider of products to delivering total treatment solutions to the water and wastewater market," said Gary Aicher, President ITT Water Treatment. "Leopold's design capabilities and technologies will strengthen the value of the solutions we provide to our customers and accelerate our growth in this core segment."

"ITT is now well positioned to provide customers with the world's leading water and wastewater product portfolio through a complete line of pumps, water filtration and disinfection products," said Chuck Reading, Executive Vice President and Director for Marketing ITT Water Treatment. "In conjunction with ITT's existing biological treatment, ultraviolet and reverse osmosis and filtration capabilities, Leopold expands our ability to offer full system solutions in water treatment."

Source: ITT Inc.

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