ITT Wins Night Vision equipment contract

The US Army awarded ITT Corporation a $174 M contract to produce night vision monoculars and related equipment. See this story here for more. The article also highlights the problem that ITT Corporation had in the past with export control. These laws are very complex and limit how much work a manufacturer can do in foreign countries.

ITT Corporation awards contract to Laser Energetics

ITT Corporation gave a contract to Laser Energetics to integrate their proprietary Alexandrite laser into a system they are developong for the US Army that uses lasers to detect chemical agents. See the press release on CNNMoney.com. The contract has a value of just under $500 K.

ITT Industries Completes Acquistion of EDO Corporation

December 22, 2007 by Dagpotter · Comment
Filed under: Acquisitions, ITT Corporation 

In a major addition to its products and capabilities, ITT Industries completed the acquisition of EDO Corporation on December 20th. The total price of the transaction was about $1.7 billion as the EDO shares were valued at $56. EDO over the last six year also had been aggressively acquiring companies to increase the span of their business line. EDO does have complimentary products with ITT in the areas of electronic warfare. This acquisition will also expand ITT’s reach into Huntsville, Alabama where the US Army’s Aviation and Missile Command (AMCOM) is located.

ITT’s Press Release

ITT Industries Wins Radar Upgrade Contract

December 22, 2007 by Dagpotter · Comment
Filed under: Contract Awards, ITT Corporation, U.S. Navy 

ITT Industries (Share Symbol: ITT) won a $14.2 M contract to upgrade AN/SPS-48 air search radars from the US Navy. See the Press Release.