ITT Announces Acquisition of Hartzell Aerospace
April 01 2015 - 6:30PM
Business Wire
Strategic acquisition expands ITT’s portfolio
with highly engineered and customized solutions for aerospace
environmental control systems
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.
ITT CorporationInvestors:Melissa Trombetta, +1
914-641-2030melissa.trombetta@itt.comorMedia:Kathleen Bark, +1
914-641-2103kathleen.bark@itt.com
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