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ITT Corporation (NYSE: ITT) is a global diversified
manufacturing company based in the United States. ITT participates in global
markets including water and fluids management, defense and security, and motion
and flow control. Forbes.com named ITT Corporation to its list of
"America's Best Managed Companies" for 2008, and awarded the company
the top spot in the conglomerates category.
ITT's water business is the world's largest supplier
of pumps and systems to transport treat and control water, and other fluids.
The company's defense electronics and services business is one of the ten
largest US defense contractors providing defense and security systems, advanced
technologies and operational services for military and civilian customers.
ITT's motion and flow control business manufactures specialty components for
aerospace, transportation and industrial markets.
The company was founded in 1920 as International
Telephone & Telegraph. During the 1960s and 1970s, under the leadership of
its CEO Harold Geneen the company rose to prominence as the archetypal
conglomerate, deriving its growth from hundreds of acquisitions in diversified
industries. ITT divested its telecommunications assets in 1986, and in 1995
spun off its non-manufacturing divisions, later to be purchased by Starwood
Hotels & Resorts Worldwide.
Type Public
Traded as
NYSE: ITT
Industry Conglomerate
Predecessor(s) ITT Corporation
Founded
1995
Headquarters
White Plains, New York, US
Area served
Worldwide
Key people
Denise L. Ramos
(CEO and President)
Revenue US$ 10.995 billion (2010)
Operating income
US$ 900
million (2010)
Net income
US$ 798
million (2010)
Total assets
US$ 12.438
billion (2010)
Total equity
US$ 4.505
billion (2010)
Employees
40,000 (December 2010)
Website
ITT.com
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