ITT on track to spin off aerospace and defense business unit into independent company by end of the year



WHITE PLAINS, N.Y., 11 July 2011. Leaders of ITT Corp. in White Plains, N.Y., say they are on track to spin off the company's aerospace and defense business unit into an independent publicly traded company by the end of the year, specializing in command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR), as well as military information technology for defense, government, and commercial applications. The move will be part of a plan to split the company into three independent companies that specialize in aerospace and defense technologies, water-related technologies, as well as connectors and industrial control.

Spinning off the company's Defense & Information Solutions segment into an independent company is expected to enhance the segment's economic viability and enhance value to shareholders, ITT officials say.

ITT (NYSE:ITT) also will spin off its interconnect solutions, motion technologies, industrial process, and control business units into an independent industrial solutions company that will operate under the ITT Corp. name. ITT also plans to spin off its water-related businesses into an independent company.

ITT has filed Form 10 Registration Statements have been filed with the U.S. Securities and Exchange Commission (SEC) to form the aerospace and defense company and the water technologies company. ITT also has filed a Form 8-K with the SEC about the future ITT Corp. and the companies that will be spun off.

ITT shareholders will own shares in all three corporations, and the new companies will be listed on the New York Stock Exchange, ITT officials say.

The future defense company will specialize in command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) products and systems, as well as information technology and services for military, government, and commercial applications. The defense company will have two segments that concentrate on C4ISR electronics and systems, and information and technical services.

The new defense company's C4ISR and information segment will concentrate on communications, electronic warfare, imaging and image-processing, radar and sonar systems, space systems, and aerostructures, while the defense company's information technology and services segment will concentrate on systems integration, network design, computers, intelligence, logistics, as well as space launch and range-support.

David Melcher, president today of ITT Defense & Information Solutions, will be chief executive officer of the new defense company. The future defense company had 2010 sales of $5.89 billion.

The new ITT Corp. will concentrate on industrial products technologies for energy, infrastructure, electronics, and transportation applications, and will operate in four segments: interconnect solutions, industrial process, motion technologies, and control technologies.

The interconnect solutions segment will concentrate on harsh-environment and specialized connectors; the industrial process segment will concentrate on pumps, valves, monitoring, and controls; the motion technologies segment will concentrate on transportation technologies; and the control technologies will concentrate on aerospace and industrial components.

Denise Ramos, ITT's current chief financial officer, will be the new ITT Corp. chief executive officer. The new ITT Corp. had 2010 sales of sales of $1.9 billion.

The future water company will specialize in technologies for the water industry, such as equipment and services for water and wastewater applications. Gretchen McClain, president of ITT Fluid and Motion Control, will be chief executive officer. The future water company had 2010 sales of $3.2 billion.


Military & Aerospace Photos

Most Popular Articles

Related Products

General Micro "Horizon" C299

The C299 Horizon is a third generation, 6U cPCI SBC module based on GMS’ upgradable CPU technolog...

RR2P Removable Canister RAID System

Transportable data storage for mobile field use aboard planes, ships and ground transport. 2U, du...

VPX3-453 3U VPX Virtex-6/8640D Digital Signal Processor

The Curtiss-Wright VPX3-453 is a high performance 3U VPX DSP and FPGA processor card that combine...

General Micro "Atom" XPC40X Rugged, Ultra-Small, Ultra-Low-Power Intel Atom™ CPU SBC

The XPC40X Atom is a rugged, low cost, ultra-low power, lightweight, Atom™ based computer system....

General Micro's VS295 Eclipse

The VS295 Eclipse is fifth generation, VME SBC module based on GMS, upgradable CPU technology. It...

DSP280 - Rugged Dual Socket 2nd Gen Intel Quad Core i7 Multiprocessor

The DSP280 is a rugged, 6U OpenVPX dual socket Intel 2nd generation Quad Core i7 multiprocessor d...

ADEPT3000 Automatic Video Tracker

GE Intelligent Platforms ADEPT3000 is a cost-effective SWaP optimized automatic video tracking so...

6U OpenVPX HPEC Starter System

GE Intellligent Platforms new HPEC Application Ready Platforms (HARP) products respond to governm...

CHAMP-FX4 6U OpenVPX Virtex-7 FPGA Processor Card

The CHAMP-FX4 is the flagship 6U product in Curtiss-Wright Controls Defense Solutions’ family of ...

PMC-E2001 Audio/Acoustic Waveform Generating PMC Card

PMC-E2001 Delta-sigma PMC features 16-bit resolution with 8 Analog Outputs and 4 Analog Inputs wi...

Related Companies

Innovative Integration

  Since 1988, Innovative Integration has grown to become one of the world's leading suppliers of DSP and data ac...

General Micro Systems Inc

Since 1979, General Micro Systems has been providing the most diverse line of single-board computers in the industry....

Winchester Systems Inc

At its founding in 1981, Winchester Systems introduced its first 5 MB disk system for Intel development system users....

Extreme Engineering Solutions Inc (X-ES)

 Extreme Engineering Solutions, Inc. (X-ES) is a leader in the design, manufacture, and support of standard and ...

Curtiss-Wright Defense Solutions

About Curtiss-Wright Controls Defense Solutions Curtiss-Wright Controls Defense Solutions (CWCDS) is a long establish...

LEMO USA Inc

Provides a lightweight, compact aluminum connector. M-series connector is focused on the design that requires a MIL-3...

GE Intelligent Platforms

Provides embedded computing solutions. Products include single-board computers, networking products, avionics interfa...

Omnetics Connector Corp

Omnetics Connector Company is a privately held, world class connector design and manufacturing company with over 25 ...

Dawn VME Products

Dawn provides customers an in-depth and broad range of system and product knowledge and expertise coupled with the la...
Wire News provided by   

social activity

Webcasts

Meeting the Gen3 backplane challenge with OpenVPX and COTS

Tight Pentagon budgets mean military systems must stay in the field for longer than ever before. This doesn't mean obsolete technology, however. Today's military electronics are being upgraded constantly, an...
Sponsored by:

Design Strategy Considerations for DO-178C Certified Multi-core Systems

Join Wind River to learn how system architecture and design choices can minimize your DO-178C certification challenges.

Sponsored by:

Flying, Sailing or Driving - The Rugged, Embedded Intel-based Server that goes where you need it!Flying Sailing or Driving

Leveraging the power of server-class processors is no longer relegated to the confines of data centers. Through several innovations, Mercury Systems has ruggedized Intel’s server-class chips for deployment. ...
Sponsored by:

All Access Sponsors


Mil & Aero Magazine

February 2015
Volume 26, Issue 2
file

Download Our Apps



iPhone

iPad

Android

Follow Us On...



Newsletters

Military & Aerospace Electronics

Weekly newsletter covering technical content, breaking news and product information
SUBSCRIBE

Cyber Security

Monthly newsletter covering cyber warfare, cyber security, information warfare, and information security technologies, products, contracts, and procurement opportunities
SUBSCRIBE

Defense Executive

Monthly newsletter covering business news and strategic insights for executive managers
SUBSCRIBE

Electronic Warfare

Quarterly newsletter covering technologies and applications in electronic warfare, cyber warfare, optical warfare, and spectrum warfare.
SUBSCRIBE

Embedded Computing Report

Monthly newsletter covering news on embedded computing in aerospace, defense and industrial-rugged applications
SUBSCRIBE

Unmanned Vehicles

Monthly newsletter covering news updates for designers of unmanned vehicles
SUBSCRIBE