MIDLAND PARK, N.J., Jan. 21 /PRNewswire/ — ITT Fluid Technology
Corporation, one of ITT Industries' (NYSE: IIN) three core businesses, has
named Richard J.M. Hamilton as President of its newly created Commercial and
Specialty Products Group.
This group, with approximately $800 million in sales, produces a full line
of pumps and associated equipment for the residential, commercial, marine and
light industrial water management markets, and valves, pumps and controls and
instruments for other specialty niche markets. The group markets its products
under brand names which include Goulds, Bell & Gossett, McDonnell & Miller,
ITT Standard, Lowara, Jabsco, ITT Pure-Flo, G&L, ITT Dia-Flo, ITT Aerospace
Controls, Neodyn, Fabri Valve and others.
"Richard's leadership will accelerate this group's success in providing
cohesive fluid management solutions to our customers worldwide," said Richard
J. Labrecque, Chairman and CEO of ITT Fluid Technology Corp.
Hamilton, a Vice President of ITT Industries, was most recently President
of ITT Fluid Technology's Specialty Products Division. Prior to joining Fluid
Technology in 1996, Richard Hamilton spent 25 years with ITT and ITT
Industries in a variety of management positions, including corporate
controller. Hamilton holds a B.Sc. from the University of Aberdeen in
Scotland and is a member of the Hydraulic Institute, the Financial Executives
Institute and the Institute of Management Accountants. He is based in Midland
Park, N.J. and makes his home in Westport, Conn.
"I am excited to be associated with this group of leading companies with
powerful brands and the best people in the business. Our mission is to
achieve fast-paced growth while maintaining the strong earnings and cash flow
that our shareholders expect from this business. Our unparalleled engineering
and marketing skills and ITT Fluid Technology's growing worldwide presence
make this a very achievable target."
ITT Industries ( http://www.ittind.com ) is a leading worldwide
diversified manufacturing company, with 1996 sales of $8.4 billion in its
three primary business segments: Automotive, Defense and Electronics, and
Fluid Technology. ITT Fluid Technology is the world's leading manufacturer of
pumps, systems and services for the movement, measurement and control of
fluids. ITT Automotive is one of the largest independent suppliers of systems
and components to automotive manufacturers. ITT Defense and Electronics is a
leader in the design, manufacture and support of high technology electronic
systems and components for defense and commercial markets. In addition to the
New York Stock Exchange, ITT Industries' stock is traded under the symbol
("IIN") on the Midwest, Pacific, London, Frankfurt and Paris exchanges.
ITT Industries and its subsidiaries' press releases are available at no
charge via fax and the Internet. To receive releases by fax, call
800-758-5804, extension 110006. For ITT Industries' news on the Internet,
visit http://www.ittind.com or http://www.prnewswire.com.
SOURCE ITT Fluid Technology Corporation
Web site: http://www.ittind.com
NOTE TO EDITORS: This is ITT Industries, Inc. -- NYSE: IIN, not
ITT Corporation -- NYSE: ITT. Any shorthand reference to ITT
will be incorrect.
CONTACT: Bjorn von Euler of ITT Fluid Technology, 201-670-3522,
fax, 201-444-0742, or firstname.lastname@example.org