ITT Corporation

ITT's KONI brand partners with Gabriel to deliver innovative shock absorber products for Indian transportation market

    11/18/2014

    WHITE PLAINS, N.Y., Nov. 18, 2014 – ITT Corporation (NYSE: ITT) announced that its KONI brand has signed a technology license agreement with Gabriel India Ltd. that will allow the companies to better serve the suspension needs of the Indian commercial vehicle, bus and industrial equipment markets.

    As part of the agreement, KONI will provide technology that will allow Gabriel to manufacture innovative damper products for the original equipment and aftermarkets in India as well as Bangladesh, Sri Lanka, Nepal and Bhutan. The agreement includes the areas of design, development and manufacture of high-end shock absorbers that offer the latest capabilities for enhancing performance and comfort for both drivers and passengers.

    This cooperative agreement – which will also help serve the evolving needs of the Indian heavy commercial vehicle and luxury bus segments for products that meet the requirements of longer-haul and higher-tonnage vehicles – will harness the capabilities of both companies to best serve the needs of all their customers in the region.
     

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the energy, transportation and industrial 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. Founded in 1920, 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 2013 revenues of $2.5 billion.

 

About KONI

With more than 150 years of experience in the area of shock absorber solutions, KONI has the know-how to optimize a vehicle's driving feeling and handling. As a part of the ITT Corporation KONI develops, manufactures and markets high-class performance shock absorbers for all types of cars and commercial vehicles such as rail vehicles, cars, racing cars, trucks and busses. ITT's automotive business is the world leader in the development and production of brake pads and friction materials for the transport and automobile industry. KONI has a presence in India in the luxury vehicles segment and is strengthening its business in the growing Indian luxury bus and CV segment. Longstanding experience with damping technology for air suspended vehicles guarantees superior products for the Indian market.  KONI is headquartered in Oud Beijerland, The Netherlands.

 

About Gabriel

Gabriel India Limited, a leading name in the Indian auto component industry, has completed 50 years of its existence providing the widest range of ride control products in India with shock absorbers, struts and front forks, catering to passenger cars, utility vehicles, commercial vehicles, two wheelers and railways. A pioneer of ride control products in the country, Gabriel is a renowned brand synonymous with shock absorbers. The flagship company of the Anand group, Gabriel commenced operations in 1961 and has seven manufacturing facilities spread across the country today.
 

Investors:

Melissa Trombetta
+1 914-641-2030
melissa.trombetta@itt.com
 

Media:

Kathleen Bark
+1 914-641-2103
kathleen.bark@itt.com    

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