ITT Corporation

ITT Fluid Technology Corporation Announces New Organizational Structure

    9/13/1996

    ITT Fluid Technology Corporation Announces New Organizational Structure

        MIDLAND PARK, N.J., Sept. 13 /PRNewswire/ -- ITT Fluid Technology
    Corporation, a unit of ITT Industries (NYSE: IIN), today announced a
    broadening of its organization from three divisions to five and named
    executives to head those divisions.
        "ITT Fluid Technology's leadership in its served markets has been achieved
    through technologically advanced products sold under very strong brand names
    through strong distribution channels.  This new organization structure will
    even more sharply focus our sales efforts worldwide," said Richard J.
    Labrecque, president and chief executive officer of ITT Fluid Technology Corp.
    "Reductions in government spending, primarily in France and Germany, and
    foreign exchange rates continue to be factors in our business.  The new
    organizational structure was not developed in response to these particular
    challenges, but it will help us deal with them and lead us to further growth."
          ITT Fluid Technology Corporation had 1995 sales of $1.25 billion and is
    the largest North American-based manufacturer of products, systems, and
    services for the movement, measurement, and control of fluids.  Prior to the
    reorganization, ITT Fluid Technology had three divisions:  Controls and
    Instruments, Fluid Transfer, and ITT Flygt.  The new organization retains
    Controls and Instruments and ITT Flygt and creates three new divisions:  Fluid
    Handling, Marine and Specialty Products, and Industrial Products.
        ITT Flygt, with over $600 million in sales, is headquartered in Sweden and
    is the pioneer in submersible pump technology.  ITT Flygt is the world leader
    in submersible pumping and mixing, with a strong focus on municipal and
    industrial water and wastewater treatment.  Mr. Leif Carlsson continues as
    president of ITT Flygt.
        The newly created Fluid Handling Division, with $250 million in sales,
    offers a broad range of pumps and heat exchangers, and a wide variety of
    control and accessory products focused on HVAC applications in the
    construction sector.  Market leading brand names include Bell & Gossett,
    McDonnell & Miller, and ITT Standard.  Mr. P.C. DePalma, a 19-year veteran
    with the company and most recently general manager of ITT Bell & Gossett, was
    named president of this new division.
        The newly created Industrial Products Division, with nearly $250 million
    in sales, offers a broad range of pumps and valves focused on industrial,
    process and heavy duty commercial applications worldwide.  Leading brand names
    include A-C Pump, Richter, and the industry leading Dia-Flo, Pure-Flo and
    Fabri-Valve products of ITT Engineered Valves.  Mr. Richard Hamilton, 25 years
    with the company and previously senior vice president and controller, ITT
    Industries, was named president of this new division.
        The reconstituted Controls and Instruments Division, consisting of ITT
    Barton, ITT Conoflow, and ITT Aerospace Controls, has approximately $140
    million in sales.  The division, headed by Mr. D.P. Evarts, produces flow
    measurement instruments and controls, switches and valves focused on certain
    niches in the industrial, chemical process, energy and aerospace markets.  Mr.
    Evarts has been with the company for 26 years, holding a succession of key
    management positions in this business sector and was formerly vice president,
    marketing and sales.
        The newly formed Marine and Specialty Products Division, with about $75
    million in sales, is a market leader in the leisure marine and pool and spa
    sectors under the Jabsco and Marlow brand names.  Mr. M.A. Gill, who has been
    with the company for 24 years, most recently as general manager of ITT Jabsco
    UK, was named president of this new division.
        ITT Industries is 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.
        In addition to the New York Stock Exchange, ITT Industries trades under
    the symbol IIN on the Basel, Bern, Frankfurt, Geneva, Lausanne, London,
    Midwest, Pacific, and Paris exchanges. More detailed information is available
    on line at http://www.ittind.com.
    
    SOURCE  ITT Industries
    
    

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and oil and gas 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. 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 2016 revenues of $2.4 billion.

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