Axtone strengthens ITT's global railway presence, expands position in profitable aftermarket
WHITE PLAINS, N.Y., Jan. 26, 2017 – ITT Inc. (NYSE: ITT) announced today that it has completed the previously announced acquisition of Axtone, a leading manufacturer of highly engineered and customized components for railway and other harsh environment industrial markets. The acquisition is highly complementary to ITT's legacy KONI brand as Axtone produces energy absorption solutions such as springs, buffers and coupler components that are critical safety technologies.
The addition of Axtone's high-quality portfolio and leading technologies will expand ITT's strong position across the transportation industry – including railway, aerospace and automotive – and further position the company's Motion Technologies business as a global transportation leader with strong capabilities and reach to provide a premier experience to customers.
Axtone is headquartered in Kańczuga, Poland, and has approximately 660 employees and six manufacturing locations.