ITT Corporation

ITT Industries and EDA Announce New Electronics Joint Venture in China

    10/22/1998

        WHITE PLAINS, N.Y., Oct. 22 /PRNewswire/ -- ITT Industries, Inc., through
    its Cannon division and EDA, Inc., Taiwan, today announced the formation of
    CableCom International, a joint venture based in Hong Kong, with production
    facilities in Shenzhen, China, producing connector cable assemblies.
        "CableCom's mission is to provide computer and mobile communications
    manufacturers with value-added cable assembly solutions from the most
    cost-effective basis possible," the companies said.  "ITT Industries brings
    over 80 years experience in connector manufacturing and design, and EDA brings
    knowledge of low-cost supply channels and expertise in operating a business in
    China."
        CableCom's production facilities are located in Guangdong province in
    Southern China, just across the border from Hong Kong.  The company currently
    has more than 300 employees working in engineering, production, quality
    control, and other operational functions.
        "CableCom represents continued expansion by ITT Industries into China as
    we recognize the importance of servicing our valued international customers
    wherever they may have manufacturing operations throughout the world," said
    Gerry Gendron, President, ITT Industries' Cannon division.
        Mark Steele, General Manager of Cannon Hong Kong, will serve as President
    of CableCom, International.
        "CableCom has already won contracts to provide cable assembly products to
    major international corporations in the computer and networking equipment
    industries," Steele said.  "These customers recognize the value of one-stop
    shopping where both their connector and cable assembly needs can be produced
    and backed-up by a single, reliable source."
        CableCom represents another example of ITT Industries' increasing activity
    in China.  The company is also a 90 percent owner of Cannon (Zhenjiang)
    Electronics Co., Ltd., a joint venture company with Zhenjiang Connector &
    Switch Factory (ZCF).  The company also manufactures its Flygt pumps, used in
    mining, manufacturing and wastewater treatment, in Zhenjiang, and its Goulds
    pumps, supplying submersible pumps, turbines, castings and motors for water
    management and industrial uses in a facility near Nanjing.
        ITT Industries, Inc., (http://www.ittind.com) is a global industrial
    manufacturing company with leading positions in the markets it serves.  Based
    in White Plains, NY, ITT Industries employs approximately 34,000 people around
    the world.
        ITT Industries is the world's largest producer of pumps, systems and
    services to move, measure and control water and other fluids.  The company is
    also a leading supplier of sophisticated military defense systems, including
    night vision devices, secure communication systems and avionics, and provides
    advanced technical and operational services to a broad range of government
    agencies.  ITT Industries is a leading provider of electrical interconnects
    for cellular telephones, aerospace, network communications, "smart cards" for
    personal data storage, and PC cards for laptop computers.  Further, ITT
    Industries provides products for highly-focused industrial 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.
        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.
    
    SOURCE  ITT Industries, Inc.
    
    

    Web site: http://www.ittind.com
    Company News On-Call: http://www.prnewswire.com or fax,
    800-758-5804, ext. 110006
    CONTACT: North America - Glenn Leibowitz, 714-628-8223, or Asia-
    Pacific - Mark Steele, 852-2732-2720, both of ITT Industries,
    Inc.

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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