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
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,