ITT Corporation

ITT Industries Announces Agreement to Sell Barton Instruments Business

    3/4/1998

        WHITE PLAINS, N.Y., March 4 /PRNewswire/ -- ITT Industries (NYSE: IIN)
    announced today that it has signed an agreement to sell its Barton fluid
    measurement business to Barton Instrument Systems, L.L.C., an affiliate of
    American Commercial Holdings, Inc. of Lexington, Kentucky.  ITT Industries
    made known its intention to sell Barton, a division of ITT Fluid Technology,
    in October 1997.  Terms of the sale were not disclosed.  The sale is
    expected to become final within 30 days, subject to customary conditions,
    including regulatory approval.
        "The sale of Barton is consistent with our strategy to concentrate on our
    core strengths, and in Fluid Technology, our strength is making pumps and
    valves," said Travis Engen, Chairman, President and Chief Executive of ITT
    Industries.   "We believe this strategy will help us meet our overall
    objective of enhancing shareholder return."
        Barton produces process measurement instruments and systems, most notably
    for the oil and gas industry.  It posted 1997 sales of $78 million, and
    employs 550 people at five locations in the US, Canada and Great Britain.
        ITT Industries ( http://www.ittind.com ) is a leading global diversified
    manufacturing company, with 1997 sales of $8.8 billion in its three primary
    business segments: Automotive, Defense & Electronics, and Fluid Technology.
    ITT Automotive is one of the world's largest independent suppliers of systems
    and components to automotive manufacturers.  ITT Defense & Electronics is a
    leader in the design, manufacture and support of high technology electronic
    systems and components, including Night Vision, tactical communications and
    mobile telecommunications.  ITT Fluid Technology is the world's leading
    manufacturer of pumps, systems and services for the movement, measurement and
    control of fluids.  Headquartered in White Plains, NY, ITT Industries employs
    more than 58,000 people around the world.
        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' news releases are available at no
    charge via fax and the Internet.  For ITT Industries news and information on
    the Internet, visit http://www.ittind.com.  To receive releases by fax, call
    800-758-5804, extension 110006 for ITT Industries, or extension 114898 for ITT
    Fluid Technology.
    
    SOURCE  ITT Industries
    
    

    Web site: http://www.ittind.com
    CONTACT: Tom Glover of ITT Industries, 914-641-2160; or Bjorn Von
    Euler of ITT Fluid Technology, 201-670-3522
    NOTE TO EDITORS: 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

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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