ITT Corporation

ITT Fluid Technology Expands Operations in China

    1/14/1997

        MIDLAND PARK, N.J., Jan. 14 /PRNewswire/ -- ITT Fluid Technology
    Corporation, a unit of ITT Industries (NYSE: IIN), has announced the formation
    of a new wholly owned foreign enterprise, ITT Flygt (Shenyang) Pump Co., Ltd.,
    which will manufacture and service market-leading submersible pumps in China.
        The new entity results from ITT Industries' conversion of its 75 percent
    stake in Shenyang ITT Flygt Jinbei Pump Co., Ltd., a 1995 joint venture
    between ITT Flygt, a division of ITT Fluid Technology, and Chinese automobile
    manufacturer FAW-Jinbei Auto Co., Ltd.  The new wholly owned company is part
    of ITT Industries (China) Investment Co., Ltd., a recently formed holding
    company that oversees ITT Industries' expanding business operations in China.
        The Flygt-brand pumps produced by ITT Flygt (Shenyang) Pump Co. will serve
    a broad range of applications in China, and are particularly compatible with
    China's focus on creating centralized collection systems for industrial waste
    and wastewater, and protecting fresh water supplies.
        The new company is located in Shenyang, China's fifth largest city and
    principal industrial center, and will have the capacity to produce up to
    15,000 of these pumps annually.  ITT Flygt and its subsidiaries worldwide are
    currently China's largest international supplier of submersible pumps.
        "Creation of this new company in Shenyang reflects our commitment to this
    fast-growing market, and furthers our ability to help China achieve its
    environmental and infrastructure development objectives in 1997, and beyond,"
    said Richard J. Labrecque, President of ITT Fluid Technology Corp.
        Additional ITT Fluid Technology units actively market in the Far East as
    well.  These include ITT Richter Chemie-Technik, which last year provided a
    large number of lined sealless pumps to be used in highly corrosive processes
    at a chemical complex in China; ITT Marlow which provides pumps for baths,
    pools and spas in China; and marine-market leader ITT Jabsco, which provides
    flexible impeller pumps used in commercial fishing operations and in
    harvesting edible seaweed in Japan.
        Other ITT Industries' operations currently under the domain of ITT
    Industries (China) Investment Co., Ltd. include two ITT Automotive joint
    ventures and an ITT Cannon electronic component joint venture.
        ITT Fluid Technology Corporation is one of the world's largest
    manufacturers of products, systems and services for the movement, measurement
    and control of fluids.  The company's broad range of pumps, valves, heat
    exchangers, mixers, instruments and controls are used by governments,
    municipalities, property owners and industry in over 100 countries.  In 1995,
    approximately half of the company's $1.2 billion in revenue was derived
    outside the U.S.
        ITT Fluid Technology Corporation is a business unit of ITT Industries, a
    leading worldwide diversified manufacturing company.  ITT Industries' stock is
    traded on the New York, Midwest, Pacific, London, Frankfurt, and Paris
    exchanges.
    
    SOURCE  ITT Fluid Technology Corporation
    
    

    CONTACT: Bjorn von Euler, Corporate Communications of ITT Fluid
    Technology, 201-670-3522, fax, 201-444-0742, or e-mail,
    bvon_euler@fluids.ittind.com

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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