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ITT Corporation designs and manufactures engineered critical components and customized technology solutions for energy infrastructure, electronics, aerospace, and transportation industries. The company operates in four segments: Industrial Process, Motion Technologies, Interconnect Solutions, and Control Technologies. The Industrial Process segment offers industrial pumps, such as centrifugal, chemical, slurry and process, and paper stock pumps, as well as pumps for the petrochemical, and oil and gas industries; and vertical, axial flow, multi-stage, and other pumps that are used in various industries. This segment also designs, fabricates, and engineers a range of valves for the biopharmaceutical, mining, power, pulp and paper, and general industrial markets; provides parts supply, inventory optimization, field, energy and reliability assessments, repairs, upgrades, and equipment maintenance services; and offers water treatment services for offshore oil and gas and exploration and production corporations. The Motion Technologies segment manufactures engineered and durable components, consisting of brake pads, hydraulic shock absorbers, dampers, visco-elastic, and hydraulic buffers for the transportation industry. The Interconnect Solutions segment offers engineered connectors and cable assemblies for applications in harsh environments; and designs and manufactures flow control and actuation components, motion control, energy absorption, and vibration isolation products under the Cannon, VEAM, and BIW brands primarily for commercial aerospace, military, and other markets. The Control Technologies segment provides a portfolio of products, such as fuel management, actuation, and noise absorption components that manage motion and absorb energy in various industrial markets. The company was formerly known as ITT Industries, Inc. and changed its name to ITT Corporation in July 2006. ITT Corporation was founded in 1920 and is headquartered in White Plains, New York.
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Press Release $ITT ITT Corporation
Neil Yeargin joins ITT from Invensys PLC
WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- ITT Corporation (NYSE: ITT) announced today it has appointed Neil Yeargin as president of its Interconnect Solutions business, reporting to Denise Ramos, ITT’s chief executive officer and president.
In this role, Yeargin will be responsible for delivering the strategic and operating plans of ITT’s Interconnect Solutions business, which employs approximately 2,200 people globally and had 2011 revenues of approximately $418 million. The business designs and manufactures a broad range of highly engineered connectors and cable assemblies designed for critical applications in harsh environments such as the global energy, transportation and industrial end markets.
Yeargin, 47, joins ITT from Invensys PLC where he progressed through a number of increasingly responsible positions in its Invensys Controls division, a global designer and manufacturer of mechanical, electronic and electrical controls products, systems and solutions. Most recently senior vice president of its global commercial business, he also served as vice president and general manager of Americas commercial and aftermarket business, vice president of operations, and vice president of manufacturing, strategy and continuous improvement. He previously was vice president of global operations at Cooper Industries and held a number of leadership positions in operations, supply chain and process improvement with Honeywell Inc. / Allied Signal.
“Neil is a strong global leader who brings to ITT’s Interconnect Solutions business a unique set of capabilities that have driven an impressive track record,” Ramos said. “His expertise in the areas of customer focus, operational process improvement, new product development and people leadership will bring meaningful benefits to ITT as we continue to enhance our capabilities, grow this business globally and create additional value for customers and shareowners.”
In this role, Yeargin will also serve as a member of the ITT Corporation Leadership Team, and he is expected to be made an officer of ITT at the company’s February Board of Directors meeting.
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 2011 revenues of $2.1 billion. For more information, visit www.itt.com.
ITT Corporation
Investors:
Melissa Trombetta, 914-641-2030
melissa.trombetta@itt.com
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Media:
Kathleen Bark, 914-641-2103
kathleen.bark@itt.com
Source: ITT Corporation