ITT Inc.
Company Profile
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Business Overview
-The Company is a diversified manufacturer of engineered critical components and customized solutions for the transportation, industrial, and energy markets. It is organized into three primary operating segments as follows:
- Motion Technologies
- Industrial Process
- Connect & Control Technologies
-Of the Company’s three operating segments, the Motion Technologies segment and the Connect & Control Technologies segment provide products and technologies for the automotive and transportation industry. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, energy absorption components and sealing technologies. The Motion Technologies segment is comprised of three business units as follows:
- ITT Friction Technologies: Business unit manufactures a range of brake pads for passenger cars and light commercial vehicles
- Wolverine Advanced Materials: Business unit develops and manufactures custom damping solutions for automotive braking systems and specialized gasket sealing solutions
- KONI & Axtone: Business unit develops and manufactures performance shock absorbers for premium passenger vehicles, as well as hydraulic and hydro-pneumatic shock absorbers for buses, trucks and trailers
-In relation to the automotive and transportation industry, the Connect & Control Technologies segment provides high-performance, highly engineering connectors for the transfer of data, signals and power.
Shareholders
-The Company is listed on the New York Stock Exchange.
Products
-Adjustable hydraulic shock absorbers
-Frequency Selective Damping shock absorbers
-Bus, truck and trailer shock absorbers
-Brake pads and friction materials
-Connectors
-CTC high-performance interconnects
-Modular APD Interfaces for management of APD interconnects for heavy-duty vehicles
-Cable assemblies
-Compressed natural gas regulators
-Electric vehicle charging plugs
-Electric vehicle charging connectors
-Electric vehicle charging inlets and outlets
-Electric vehicle charging cables
-Pneumatic rotary actuators
-Electric rotary actuators
-Noise insulators
-Abutment clips
-Brake shims
-Engine gaskets and seals
-A/C compressor gaskets
-Fuel system gaskets and seals
-Transmission gaskets and seals
-Custom sealing applications
-Automotive NVH damping components
History
| 1968 | The Company was established as International Telephone & Telegraph Corp. |
| 1983 | Changed its name to ITT Corp. |
| Feb. 1987 | Consolidated its worldwide Automotive products units under a newly formed unit ITT Automotive Inc. |
| Jan. 1993 | Kia Motors, Kia Precision Works (KPW), and the Company formed a joint-venture in Korea to manufacture and supply ITT Automotive Teves anti-lock brake systems, traction-control and brake components to the Korean automotive market. The Company will hold a 40% interest in the newly formed company that will be called Korea Advanced Brake Systems Company, Ltd. The remaining 60 percent interest will be evenly split between Kia Motors and KPW. |
| Mar. 1994 | Acquired an 80% interest in the Motors and Actuators Business Unit. |
| Sep. 1994 | Signed a joint venture with Jinbei Automobile Co., Ltd. for the manufacture and sale of submersible pumps in China. |
| Sep. 1995 | By the merger with ITT Indiana, the Company was reincorporated. |
| Dec. 1995 | Present name was adopted. |
| Feb. 1996 | ITT Automotive and Tenneco Automotive announced plans for a joint venture to develop modular chassis systems for passenger cars and light trucks worldwide. |
| Sep. 1998 | Sold its automotive brake and chassis business to Continental AG of Hannover. Sold its electrical motors and actuators, air management and engine cooling products, wiper and washer systems, lamps, power antennas, switches and sensors businesses to Valeo S.A. |
| Feb. 2006 | Completed the sale of its automotive brake & tubing and components business to Cooper Standard Automotive. |
| Sep. 2007 | Acquired International Motion Control (IMC), which is a global developer of motion control products. |
| Oct. 2011 | Spun-off its Defense & Information Solutions segment and its water-related businesses. |
| Oct. 2015 | Completed acquisition of Wolverine Advanced Materials, LLC, a manufacturer of automotive braking systems and specialized sealing solutions. |
Supplemental Information 1
>>>Business Report up until FY ended Dec. 31, 2013
>>>Business Report up until FY ended Dec. 31, 2014
>>>ITT Corporation investor relations
Note: A figure in brackets ( ) indicates a loss