ITT Fluid Technology expects revenues to grow 3 to 5 percent in 2003
The Fluid Technology segment of ITT Industries is expected to produce approximately $1.9 billion in revenues in 2002, 39 percent of the company's total. The company expects continued strong performance from the water and wastewater related businesses, which account for 60 percent of this segment's revenues.
Revenue gains realized through recent acquisitions and municipal contract wins could be partially offset by slowing growth in municipal spending, reduced activity in the construction markets and continued softness in the industrial businesses.
ITT Industries is the world's largest supplier of water and wastewater
pumps and equipment, and is a leading provider of pumps and valves to the
industrial, building trades and pharmaceutical markets.
Source: ITT Inc.