FAA Selects ITT to Lead Nextgen Definition and Implementation Team

(Herndon, VA., May 27, 2010) -- ITT Corporation (NYSE:ITT) has been awarded a contract by the Federal Aviation Administration (FAA) to lead a world-class team of aviation industry companies to support the development of advanced concepts involving the most challenging issues facing the FAA's Next Generation Air Transportation System (NextGen) initiative to modernize the U.S. national airspace system.

The contract, titled System Engineering 2020 (SE2020), has a ceiling value with all options exercised of $1.4 billion, and a five-year base period of performance with option periods that can extend the contract to a total of 10 years.

Under SE2020, the ITT team will conduct leading edge concept development work across all dimensions of air traffic control including ground systems, avionics, aircraft, air traffic control rules and procedures, human factors, safety and security, environmental and standards.

"Our expertise as a world-class enterprise solutions provider, combined with an outstanding performance track record, solidifies ITT's position as a key partner with the FAA at the forefront of global air traffic management harmonization," said Mike Wilson, president of ITT's Information Systems business. "Enhancing safety and efficiency in the national air space system is of critical importance as we undertake this landmark endeavor for the FAA."

Source : ITT Corporation (NYSE: ITT)