ITT Corporation Defense Business Named ITT Excelis

摘要

On July 14th ITT Corporation (NYSE: ITT) announced the future names for its water technology and services business and its Defense & Information Solutions segment, which will become standalone companies following the completion of a previously announced separation plan. Upon completion of the spinoffs, the future water company will be named Xylem and the future defense company will be named ITT Exelis. ITT's core industrial business will continue under the ITT Corporation name. "We are pleased to announce the names of these new companies, as this represents an important step forward in our transformation," said Steve Loranger, chairman, president and chief executive officer of ITT. "The names Xylem and ITT Exelis communicate the strength and unique positioning of our future businesses. We are confident that these new businesses will emerge as leaders in their respective industries and firmly believe that ITT Corporation, Xylem and ITT Exelis are all well positioned to create value for shareholders."