WHITE PLAINS, N.Y., April 15 /PRNewswire/ -- ITT Industries (NYSE: IIN)
announced today that it has completed the sale of its Barton fluid measurement
business to Barton Instrument Systems, L.L.C., an affiliate of American
Commercial Holdings, Inc. of Lexington, Kentucky. ITT Industries announced it
had signed an agreement to sell the unit on March 4, 1998. This sale is
another step in the company's continuing refinement of its portfolio of
businesses. Terms of the sale were not disclosed.
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 U.S., 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.
In the automotive industry, ITT Industries is one of the world's largest
independent suppliers of systems and components to automotive manufacturers.
In the defense & electronics area, ITT Industries is a leader in the design,
manufacture and support of high technology electronic systems and components,
including Night Vision, tactical communications and mobile telecommunications.
In fluid technology, ITT Industries is the world's leading manufacturer of
pumps, systems and services for the movement, measurement and control of
fluids. Headquartered in White Plains, N.Y., 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
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
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