ITT Federal Services Corporation Awarded $600 Million in Government Contracts
WHITE PLAINS, N.Y., Sept. 11 /PRNewswire/ -- ITT Federal Services
Corporation (FSC), a wholly owned subsidiary of ITT Industries (NYSE: IIN),
has recently been awarded technical services contracts from the US Government
valued at approximately $600 million.
"This award to ITT Federal Services Corporation illustrates ITT
Industries' strategy of diversification as a worldwide manufacturer and
provider of services," said Travis Engen, chairman, president and chief
executive of ITT Industries. "The softness in the Automotive and Fluid
Technology sectors of our business referred to at the time of the release of
our 2nd Quarter results in July is continuing. However we are pleased with
the long term stability in the Defense and Electronics unit. The service
sector is experiencing rapid growth as the defense world becomes more reliant
on companies with specific service expertise, both here and abroad. ITT
Federal Services, through these contract awards, has demonstrated once again
that it is a significant force in this industry."
The recent contracts awarded to ITT FSC cover military facilities in
California, Hawaii, the United Kingdom and Germany.
"These significant contract wins allow us to continue to increase our
technical capabilities and provide a larger base from which to produce
profitable growth in the expanding services industry," said Lou Giuliano,
president of ITT Defense & Electronics. ITT FSC is an operating unit of ITT
Defense & Electronics (D&E). This business raises the D&E projected
year-end backlog to $2.2 billion, up from $1.9 billion at year end 1995.
ITT FSC maintains its role as a major player in the missile launch range
business by winning the Range Operation/Maintenance and Support Services
Contract (ROMSCC) for Air Force Space Command's Western Range. The five year
contract has a potential value of $307 million. ITT FSC will provide the
operation, maintenance and support of Western Range systems at Vandenberg Air
Force Base, California and at other supporting locations in California and the
ITT FSC remains a major US Government service contractor in Europe with
the win of the Operation, Maintenance and Supply Support-Europe contract
awarded by the US Army Information Systems Command at Ft. Huachuca, Arizona.
ITT FSC will provide operations, maintenance and supply support to European
communications sites for the US Army 5th Signal Command over a five year
period. The contract value is $128 million.
The remaining two contracts represent new business wins. ITT FSC received
a $156 million contract to provide logistics support services to the Army
National Training Center and Fort Irwin, California. ITT FSC will perform
equipment maintenance, supply, transportation and administrative functions at
the National Training Center and will support rotational units under
simulated combat conditions at Ft. Irwin.
The $6.3 million United Kingdom Communications, Operations and Maintenance
(UKCOMM) contract calls for ITT FSC to provide the operation and
maintenance of two manned and twelve unmanned US Air Force communications
facilities located throughout England, with the anticipated addition of the
Mildenhall and Lakenheath systems control facilities during the term
of the contract. The award was made by the US Air Forces Europe (USAFE) at
Ramstein Air Base, Germany and is for a period of one year with four one
ITT FSC is headquartered in Colorado Springs, Colorado and provides
management and technical services on a wide range of government contracts
with the Department of Defense, Department of Labor, Department of State and
the National Aeronautics and Space Administration. With over 5,000 employees,
ITT FSC operates at 79 locations in the United States and eleven foreign
Headquartered in McLean, Va., ITT Defense & Electronics is a leading
supplier of high technology commercial and defense electronic systems,
semiconductors, standard and customized connectors and operations and
maintenance services, with customers in avionics, data, communications,
information systems, military/space and transportation.
ITT Defense & Electronics is a business unit of ITT Industries
(NYSE: IIN), a leading worldwide diversified manufacturing company, with 1995
sales of $8.4 billion from its three primary business segments: automotive,
defense & electronics and fluid technology. ITT Industries, through its
Automotive subsidiary, is one of the world's largest independent suppliers of
systems and components to automotive manufacturers. The Company, through ITT
Fluid Technology, is one of the world's leading manufacturers of products,
systems and services for the movement, measurement and control of fluids.
In addition to the New York Stock Exchange, ITT Industries' stock is
traded under the symbol (IIN) on the Basel, Bern, Frankfurt, Geneva, Lausanne,
London, Midwest, Pacific and Paris exchanges. More detailed information on
ITT Industries is available on line at http:\\www.ittind.com.
SOURCE ITT Industries
CONTACT: Millie Dunn Rogers of ITT Defense ''&'' Electronics,
703-790-6336; or Thomas Martin of ITT Industries, 914-641-2157