ITT Announces Acquisition of Hartzell Aerospace
- Strategic Acquisition Expands ITT's Portfolio With Highly Engineered and Customized Solutions for Aerospace Environmental Control Systems
ITT Corporation (NYSE:ITT) announced today that it has completed the acquisition of Hartzell Aerospace, a leading manufacturer of highly engineered and customized solutions for aerospace environmental control systems on a wide range of high-growth, next-generation aircraft platforms.
“The acquisition of Hartzell Aerospace will unlock powerful new opportunities for ITT to expand its presence on new and existing platforms in the global aerospace industry,” said Denise Ramos, chief executive officer and president. “The addition of Hartzell Aerospace’s high-quality portfolio and innovative technologies will broaden our capabilities, enhance our ability to serve customers and help further position ITT as a leader in the aerospace market.”
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Steve Kim, Vice President and General Manager of Aerospace Controls for ITT’s Control Technologies business, said, “Hartzell Aerospace’s technologies and expertise are an ideal complement to our Aerospace business, which is a global leader in actuation, flow control and energy absorption components for the aerospace industry. We are looking forward to enhancing our portfolio of environmental control system solutions, which play a crucial role in passenger comfort and safety, and to bringing together two outstanding teams with a shared commitment to innovation, quality, performance and customer satisfaction.”
Hartzell Aerospace has about 240 employees and production facilities in Valencia and Perris, Calif.
Source : ITT Corporation - view original press release