ITT Announces Acquisition of Hartzell Aerospace
By Business Wire News
WHITE PLAINS, N.Y.
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.
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.