ITT Inc.

Maniv Announces Third Early-stage Venture Fund of $140m to Accelerate the Decarbonization and Digitization of Global Transportation

Retrieved on: 
Thursday, April 4, 2024

Investing since 2016, Maniv was among the first institutional investors to articulate a global, early-stage investment strategy focused on the intersection between mobility, transportation and energy.

Key Points: 
  • Investing since 2016, Maniv was among the first institutional investors to articulate a global, early-stage investment strategy focused on the intersection between mobility, transportation and energy.
  • Simultaneously, the market-driven decarbonization of transportation – representing as much as one quarter of global GHG emissions – is at an inflection point.
  • Maniv’s third fund is backed by institutional capital, high-net-worth individuals, and a consortium of industry leaders at the forefront of the transportation sector.
  • “Our third fund builds on two decades in the trenches of the global mobility ecosystem,” said Michael Granoff, the firm’s Managing Partner.

ITT Nominates Christopher O’Shea for Election to Board of Directors

Retrieved on: 
Tuesday, April 2, 2024

April 2, 2024-- ITT Inc. (NYSE: ITT ) today announced the nomination of Christopher O’Shea for election to its Board of Directors at the company’s upcoming 2024 annual meeting of shareholders.

Key Points: 
  • April 2, 2024-- ITT Inc. (NYSE: ITT ) today announced the nomination of Christopher O’Shea for election to its Board of Directors at the company’s upcoming 2024 annual meeting of shareholders.
  • “We are honored at the prospect of having Chris join the ITT Board of Directors.
  • Mr. O’Shea’s election to the Board will be effective May 15, 2024 pending shareholder approval at the company’s 2024 annual meeting of shareholders.
  • The Board intends to appoint Mr. O’Shea to the company’s Audit Committee, effective at the time of his election.

ITT Announces ~$11 Million Investment for Expanded Pump Testing Capabilities in Germany, India and Saudi Arabia to Support Growth and Large Project Awards

Retrieved on: 
Thursday, March 21, 2024

The investments at IP facilities in Obernkirchen, Germany, Vadodara, India and Dammam, Saudi Arabia will increase ITT’s power capacity in pump, motor and control systems testing, enabling the company to locally test larger, more complicated pump packages.

Key Points: 
  • The investments at IP facilities in Obernkirchen, Germany, Vadodara, India and Dammam, Saudi Arabia will increase ITT’s power capacity in pump, motor and control systems testing, enabling the company to locally test larger, more complicated pump packages.
  • The investments are expected to be completed in the third quarter of 2024.
  • At ITT’s Goulds Pumps sites in Saudi Arabia and India, the investments will support future growth as part of ITT’s ‘in region, for region’ strategy.
  • “These strategic investments will further enhance our capabilities and customer experience and continue to differentiate ITT from the competition,” said Luca Savi, ITT’s Chief Executive Officer and President.

Watts Water Technologies Elects Kenneth Napolitano to Its Board of Directors

Retrieved on: 
Wednesday, March 13, 2024

Watts Water Technologies, Inc. (NYSE: WTS) today announced the election of Kenneth Napolitano as a member of the Board of Directors.

Key Points: 
  • Watts Water Technologies, Inc. (NYSE: WTS) today announced the election of Kenneth Napolitano as a member of the Board of Directors.
  • Mr. Napolitano was also appointed by the Board to serve as a member of the Governance and Sustainability Committee of the Board of Directors.
  • Xylem is a global designer, manufacturer and equipment and service provider for water and wastewater applications which spun off from ITT Corporation in 2011.
  • Watts Water companies and brands offer innovative plumbing, heating, and water quality solutions to control the efficiency, safety, and quality of water within commercial, residential, and industrial applications.

ITT Announces Participation at Bank of America Global Industrials Conference 2024 on March 19

Retrieved on: 
Wednesday, March 6, 2024

March 6, 2024-- ITT Inc. (NYSE: ITT ) today announced its participation at the Bank of America Global Industrials Conference 2024 in London on March 19.

Key Points: 
  • March 6, 2024-- ITT Inc. (NYSE: ITT ) today announced its participation at the Bank of America Global Industrials Conference 2024 in London on March 19.
  • Chief Executive Officer and President Luca Savi will present from 9:05-9:45 a.m.
  • A live audio webcast of the presentation can be accessed at http://investors.itt.com , where related materials will be posted prior to the presentation.
  • Replays of the presentation will be available for 30 days.

ITT Names Michael Guhde President of Connect & Control Technologies (CCT) Business

Retrieved on: 
Monday, February 26, 2024

February 26, 2024-- ITT Inc. (NYSE: ITT ) today announced the appointment of Michael G. Guhde as president of its Connect & Control Technologies (CCT) business, reporting to Chief Executive Officer Luca Savi.

Key Points: 
  • February 26, 2024-- ITT Inc. (NYSE: ITT ) today announced the appointment of Michael G. Guhde as president of its Connect & Control Technologies (CCT) business, reporting to Chief Executive Officer Luca Savi.
  • Guhde joins ITT from Illinois Tool Works (NYSE: ITW), where he led a large, global business serving the automotive industry through the development and manufacture of highly engineered components.
  • In this role, he oversaw several business improvements that led to consistent, sustainable advancements in customer satisfaction while driving significant profitability increases.
  • “We are excited to begin the next chapter of growth and profitability at CCT with Michael on board.”

ITT Announces Participation in Investor Conferences on Feb. 22

Retrieved on: 
Wednesday, February 7, 2024

ITT Inc. (NYSE: ITT ) today announced its participation in two investor conferences on Feb. 22, 2024.

Key Points: 
  • ITT Inc. (NYSE: ITT ) today announced its participation in two investor conferences on Feb. 22, 2024.
  • ET on Thursday, Feb. 22.
  • Additionally on Feb. 22, Savi and Caprais will present virtually from 12:15 – 12:50 p.m.
  • A live audio webcast of both presentations can be accessed at http://investors.itt.com , where related materials will be posted prior to the presentations.

ITT to Provide Highly Engineered Pump Systems and Aftermarket Services

Retrieved on: 
Monday, February 5, 2024

Feb. 5, 2024-- ITT Inc. (NYSE: ITT ) today announced the company has signed a three-year agreement for the supply of API-610 centrifugal pump systems and related products and engineered services to ExxonMobil, one of the world’s largest international energy and petrochemical companies.

Key Points: 
  • Feb. 5, 2024-- ITT Inc. (NYSE: ITT ) today announced the company has signed a three-year agreement for the supply of API-610 centrifugal pump systems and related products and engineered services to ExxonMobil, one of the world’s largest international energy and petrochemical companies.
  • Goulds Pumps, a part of ITT’s Industrial Process (IP) segment, will provide heavy duty engineered centrifugal pump systems and aftermarket parts and services to ExxonMobil to support its existing operations, primarily in North America.
  • Under the agreement, ExxonMobil has the ability to leverage proprietary ITT technology to enhance the user experience while lowering the total cost of ownership through shortened project cycle times.
  • Goulds Pumps will also provide enterprise-wide support and a dedicated global project management team to oversee execution of the agreement.

ITT Completes Acquisition of Svanehøj, Leading Provider of Customized Critical Liquid and Cryogenic Pumps

Retrieved on: 
Friday, January 19, 2024

January 19, 2024-- ITT Inc. (NYSE: ITT ) today announced the completion of its acquisition of Svanehøj Group A/S (Svanehøj), a supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector.

Key Points: 
  • January 19, 2024-- ITT Inc. (NYSE: ITT ) today announced the completion of its acquisition of Svanehøj Group A/S (Svanehøj), a supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector.
  • The acquisition will be primarily funded through a €300 million term loan entered into on Jan. 12, 2024.
  • The business will be integrated into ITT’s Industrial Process segment, a global flow leader focused on highly engineered pumps, valves and aftermarket services.
  • Svanehøj’s product portfolio primarily consists of deepwell gas cargo pumps, fuel and energy pumps and tank control systems for low-emission and green fuels.

ITT Announces New Board of Directors Appointment

Retrieved on: 
Wednesday, January 17, 2024

Jan. 17, 2024-- ITT Inc. (NYSE: ITT ) today announced the election of Sharon Szafranski to its Board of Directors.

Key Points: 
  • Jan. 17, 2024-- ITT Inc. (NYSE: ITT ) today announced the election of Sharon Szafranski to its Board of Directors.
  • “On behalf of the entire Board of Directors of ITT, I would like to welcome Sharon to the ITT Board.
  • “With this appointment, we continue to execute on our commitment to Board refreshment and evolving our capabilities and skillsets to remain aligned with ITT’s strategic focus.
  • The Board also appointed Ms. Szafranski to the Company’s Audit Committee, effective at the time of election.