ITT Receives $317 M for Counter IEDs

CLIFTON, N.J., March 10, 2009 - ITT Corporation (NYSE:ITT) announced today it has been awarded a $317 million order to produce an additional 4,501 CREW 2.1 Vehicle Receiver Jammers (CVRJ), vehicle-mounted systems that prevent the detonation of improvised explosive devices (IEDs). These systems will be used by the United States Marine Corps. The contract was awarded by the U.S. Naval Sea Systems Command, and announced recently by the U.S. Department of Defense.

The CVRJ program is helping the Department of Defense meet urgent system requirements and increased production demands to prevent the detonation of radio controlled IEDs. These counter-IED devices will be mounted on various armored vehicles, and other military transport equipment, and will be deployed to current military operations. At present, ITT is on contract for the production of up to 25,000 CREW 2.1 devices with a potential contract value of more than $1.7 billion.

"With this new order, we are now supplying CVRJs to all four branches of the Department of Defense," said Chris Bernhardt, president of ITT's Electronic Systems business. "Our systems are going to be protecting soldiers, airmen and airwomen, sailors and now Marines. We have delivered more than 12,000 CVRJ systems, and remain committed to our service men and women. We're proud to play such an integral role in defeating the evolving IED threat."

Source : ITT Corporation (NYSE: ITT)