About ITT Enidine Inc.
ITT Corporation hopes its customers are pumped, moved, and energized about its products. A diversified manufacturer, ITT makes a range of industrial products through four operating segments: industrial process (pumping systems though
The industrial process segment's diversified customer base -- ranging from individual end users to large multinational companies -- includes such markets as oil and gas, mining, power generation, and chemicals. Offering aftermarket services, the segment operates eight Pump Repair and Overhaul outlets in the US, as well as facilities in Argentina, Australia, Brazil, Canada, Chile, China, Columbia, Saudi Arabia, Singapore, Thailand, the UK, and Venezuela. Industrial process also provides services for plant optimization and efficiency improvement. The segment accounts for about 45% of sales.
Motion technologies, accounting for 31% of sales, serves the automotive, truck, trailer, bus, and rail sectors. Customers include
Interconnect Solutions (ICS), 13% of sales, serves the aerospace, industrial, defense, and oil & gas markets with products that allow the transfer of signal and power in electronic devices. Brands include Cannon, VEAM, and BIW. The products are focused primarily on two applications, harsh environments and telecom, computer, and consumer technologies. The company's smallest segment, control technologies, (11% of sales), supplies the military and industrial markets, as well as aerospace, with fluid handling, motion control, and shock isolation products.
ITT does about 35% of its business in the US, but it operates through 150 locations in 35 countries and generates sales in 125 countries.
Sales and Marketing
The company sells a broad mix of products through a network of more than 750 distributors, agents, and value-added resellers. Marketed channels include direct, commissioned representation, and buy-resell distributors.
ITT's six-pronged growth strategy is focused on improving the customer experience, investing in technology and research and development, expanding in growth markets, growing aftermarket sales, expanding margin through operations improvements, and using capital to grow organically and inorganically. To improve customer relationships the company uses the Value-Based Commercial Excellence (VBCE) process, which is used to price products and help customers resolve challenges. Most of ITT's products are made to withstand harsh conditions.
Mergers and Acquisitions
The company adds additional revenue to its balance sheet through the use of acquisitions. In 2015 it bought Hartzell Aerospace for a purchase price of $53 million. Hartzell is a designer and manufacturer of products to support aerospace applications and is now included as part of ITT's control technologies segment.
Augmenting its motion technologies segment, the company also in 2015 completed the acquisition of Wolverine Automotive Holdings Inc., the parent company of Wolverine Advanced Materials LLC, for $298 million.
7 Centre Dr
Orchard Park, NY 14127-2281
Phone: 1 (716) 662-1900
Employer Type: Privately Owned
Orchard Park, NY