— Diversified portfolio and process improvements drive earnings growth
— Defense segment revenues and operating income exceed expectations
— Full-year earnings per share forecast of $3.50 – $3.65
Morton Grove, IL – ITT Industries’ Fluid Handling Division has formed a partnership with Ambian® Climate Technologies, LLC. The Fluid Handling Division will become the exclusive manufacturer of advanced technology ammonia-water absorption hardware for Ambian’s alternative fuel, heat-activated cooling and heating products.
Upper Saddle River, NJ, ITT Industries, the world’s premier producer of pumps and related components, announced that it has reorganized its global fluid technology business to enhance its focus on high-growth market segments and regions worldwide. The new organization is designed to accelerate the company’s expansion by enhancing its ability to serve customers in the water supply, wastewater, biopharmaceutical, process, industrial and building trade sectors in specific regions worldwide.
UPPER SADDLE RIVER, NJ – ITT Industries, Inc. (NYSE: ITT) announced that it has signed an agreement to purchase the business and assets of Precision Stainless Inc., a leading manufacturer of process vessels for the biopharmaceutical industry. Precision’s vessel products complement ITT Industries Pure-Flo valves and process systems and will provide significant growth opportunities for ITT Industries in the growing biopharmaceutical market segment.
MIAMI, Feb. 19 /PRNewswire/ — ITT Industries’ Jabsco, a leading
manufacturer of marine pumps, fixtures and accessories, has received an Innovation Award from the National Marine Manufacturers Association for its Sensor Max VSD, a silent-running energy efficient on-board water pump. Sensor Max was given the award at the Miami International Boat Show, the largest consumer show of its kind in North America.
2002 Outlook Shows Continued Earnings, Cash Growth
– FY2001 operating margin expected to increase despite lower volume
– FY2001 free cash flow to exceed $250 million
– Outlook for 2002 assumes no near-term economic upturn
– Management actions will support strong margins, cash flow
SHANGHAI, China, Nov. 20 /PRNewswire/ — ITT Industries, Inc. (NYSE: ITT) will play a critical role in the construction of the new wastewater treatment plant in Shaoxing, a city of one million people on China’s east coast, about 250 km south of Shanghai. ITT’s Flygt unit has received a record order for 195 submersible mixers, plus all of the control equipment for the units.
Reichelderfer Succeeds Richard J.M. Hamilton, Who Is Retiring
ITT Industries’ Pumps & Complementary Products segment reported third quarter revenues of $420.5 million, down 2 percent from the third quarter 2000. Continued strong growth in the water and wastewater businesses was offset by ongoing weakness in the industrial pump market, particularly pulp and paper, and chemicals, as well as a slowdown in construction markets and the negative impact of foreign currency exchange.
WHITE PLAINS, N.Y., Oct. 9 /PRNewswire/ — ITT Industries, Inc.’s
(NYSE: ITT) Board of Directors today declared a $0.15 per share dividend for the fourth quarter of 2001. The dividend is payable on January 1, 2002 to shareholders of record on November 30, 2001.
