- Acquisition establishes new platform in attractive segments adjacent to ITT's water, wastewater, industrial process, and food and beverage businesses
- Nova brands WTW®, SI Analytics®, Aanderaa®, ebro®, Bellingham + Stanley® and Global Water® add to ITT's strong water portfolio
WHITE PLAINS, N.Y., March 24, 2010 – ITT Corporation (NYSE: ITT), a global leader in the transport and treatment of water, wastewater and other fluids, today announced it has completed the acquisition of Nova Analytics. Nova is a privately held, leading manufacturer of premium quality laboratory, field, portable, and on-line analytical instruments used in water and wastewater, environmental, medical, and food and beverage applications, with recognized brands such as WTW®, SI Analytics®, Aanderaa®, ebro®, Bellingham + Stanley® and Global Water®.
The acquisition expands ITT's presence in categories adjacent to its core businesses and builds on its global leadership positions in key markets.
"We're excited to offer Nova's portfolio of recognized testing and instrumentation brands alongside our own in the fluid technology and food and beverage spaces, enabling us to build a strong platform in the $6 billion global analytical instrumentation market," said Gretchen McClain, president of ITT Fluid and Motion Control. "Combining Nova's branded instrument and sensor portfolio with our current offerings will allow us to better address all of ITT's and Nova's customers' operating and monitoring needs, and assist them in optimizing and controlling their operating and construction expenses."
Nova employs approximately 725 people in Germany, Norway, France, the United Kingdom, the United States, and China, and generated pro forma full year global revenues of approximately US$135 million in 2009.
About ITT Corporation
ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company generated 2009 revenue of $10.9 billion. www.itt.com
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Press Contact:
Tom Glover
+1 914 304 1798
tom.glover@itt.com