Wolverine strengthens ITT’s global position while expanding its
material science expertise and global growth opportunities
Company Website:
http://www.itt.com
WHITE PLAINS, N.Y. -- (Business Wire)
ITT Corporation (NYSE:ITT) announced today that it has completed the
previously announced acquisition of Wolverine Automotive Holdings Inc.,
the parent company of Wolverine Advanced Materials LLC (Wolverine).
Wolverine is a global market leader in developing and manufacturing
customized technologies for automotive braking systems and specialized
sealing solutions for harsh operating environments across a range of
industries. It has a strong reputation for material science-based
solutions and meaningful aftermarket content representing approximately
40 percent of revenue. The acquisition will broaden ITT’s portfolio for
its strategic OEM, brake manufacturer and aftermarket customers and give
both companies new opportunities to strengthen design, testing and
performance capabilities.
For more information, please visit our website at http://www.itt.com/Investors/.
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.
Safe Harbor Statement
This release contains “forward-looking statements” intended to qualify
for the safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995 (the “Act”). No forward-looking statement
can be guaranteed, and actual results may differ materially from those
projected. All forward-looking statements included in this release are
based on information available to us on the date hereof, and we
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise. The forward-looking statements are not historical facts, but
rather are based on current expectations, estimates, assumptions and
projections about the business and future financial results of the
industry in which we operate, and other legal, regulatory and economic
developments. These forward-looking statements include, but are not
limited to, future strategic plans and other statements that describe
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or goals, and any discussion of future operating or financial
performance.
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known and unknown risks, uncertainties and other important factors that
could cause actual results to differ materially from those expressed or
implied in, or reasonably inferred from, such forward-looking statements.
Forward-looking statements in this release should be evaluated together
with the risks and uncertainties that affect our business, particularly
those mentioned in the Risk Factors section of the Company's Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents
filed from time to time with the Securities and Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151005006753/en/
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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