ITT Corporation

Company Profile

■URL

http://www.itt.com

■Address

1133 Westchester Avenue, White Plains, NY 10604, USA

Business Overview

-The Company is a diversified manufacturer for the transportation, industrial, and oil and gas markets. The Company is organized across the following three segments:

  • Industrial Process
  • Motion Technologies
  • Connect & Control Technologies


-In the first quarter of 2017, the Company combined the Interconnect Solutions and Control Technologies business segments into a single segment called Connect & Control Technologies.

-The Company completed the acquisition of Wolverine Advanced Materials LLC, a manufacturer of customized technologies for automotive braking systems and specializing sealing solutions, on October 2015.

-Motion Technologies manufactures brake components, shock absorbers, damping technologies, energy absorption components and sealing technologies for the transportation industry, which includes the automotive, truck, trailer, public bus and rail transportation markets. The Motion Technologies segment includes three business units.

  • Friction Technologies: Brake pads
  • Wolverine: Customized damping technologies for automotive braking systems and gasket sealing solutions for harsh operating environments
  • KONI: Shock absorbers and dampers


-Connect & Control Technologies manufactures a range of connectors and specialized control components such as gas regulators for various markets, including the transportation industry.

Competitors

-Major competitors for the Motion Technologies segment include Akebono Brake Industry, Federal-Mogul and Nisshinbo Automotive.

-A major competitor of automotive applications in the Interconnect Solutions segment includes Deutsch (TE Connectivity).

Shareholders

-The Company is listed on the New York Stock Exchange.

Products

-Adjustable hydraulic shock absorbers
-Frequency Selective Damping shock absorbers
-Brake pads and friction materials
-Connectors
-Interconnects
-Cable assemblies
-Natural gas regulators
-Electric vehicle charging plugs
-Electric vehicle charging connectors
-Electric vehicle charging inlets and outlets
-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