Strategic acquisition expands ITT’s portfolio with highly engineered
and customized solutions for aerospace environmental control systems
WHITE PLAINS, N.Y. -- (Business Wire)
ITT Corporation (NYSE:ITT) announced today that it has completed the
acquisition of Hartzell Aerospace, a leading manufacturer of highly
engineered and customized solutions for aerospace environmental control
systems on a wide range of high-growth, next-generation aircraft
platforms.
“The acquisition of Hartzell Aerospace will unlock powerful new
opportunities for ITT to expand its presence on new and existing
platforms in the global aerospace industry,” said Denise Ramos, chief
executive officer and president. “The addition of Hartzell Aerospace’s
high-quality portfolio and innovative technologies will broaden our
capabilities, enhance our ability to serve customers and help further
position ITT as a leader in the aerospace market.”
Steve Kim, Vice President and General Manager of Aerospace Controls for
ITT’s Control Technologies business, said, “Hartzell Aerospace’s
technologies and expertise are an ideal complement to our Aerospace
business, which is a global leader in actuation, flow control and energy
absorption components for the aerospace industry. We are looking forward
to enhancing our portfolio of environmental control system solutions,
which play a crucial role in passenger comfort and safety, and to
bringing together two outstanding teams with a shared commitment to
innovation, quality, performance and customer satisfaction.”
Hartzell Aerospace has about 240 employees and production facilities in
Valencia and Perris, Calif.
About ITT
ITT is a diversified leading manufacturer of highly engineered critical
components and customized technology solutions for the energy,
transportation and industrial markets. Building on its heritage of
innovation, ITT partners with its customers to deliver enduring
solutions to the key industries that underpin our modern way of life.
Founded in 1920, ITT is headquartered in White Plains, N.Y., with
employees in more than 35 countries and sales in a total of
approximately 125 countries. The company generated 2014 revenues of $2.7
billion. For more information, visit www.itt.com.
Contacts:
ITT Corporation
Investors:
Melissa
Trombetta, +1 914-641-2030
melissa.trombetta@itt.com
or
Media:
Kathleen
Bark, +1 914-641-2103
kathleen.bark@itt.com
Source: ITT Corporation
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