Engineered Valves transformed their business from one that participates in a slow or actually declining marketplace to one who has become a leading supplier in a high growth market segment. In essence, they've completely transformed their business. They laid the groundwork for this transformation over three years ago, with the development of an effective strategic planning process. The company defined a plan for both organic growth and growth through acquisitions. They made the organizational changes necessary to make sure that they could focus on the challenges they laid out for themselves. They found new customers and learned how to deal with those new customers. The plan was executed in an effective and timely manner. Engineered Valves moved from being a component supplier to a systems supplier, and in fact they have led the entire industry in being able to provide integrated solutions to their key customers. In so doing, over this period they have tripled their sales and more then quadrupled their income. But just as importantly, they have created a growth platform for the future. This is just the beginning. Engineered Valves is going to blossom and grow into a major factor in ITT Industries. Return to 2003 Chairman's Awards.			Engineered Valves President Al Calabria (r.) and Fluid Technology President Bob Ayers accept the Chairman's Award on behalf of Engineered Valves.