ITT Inc - Company Profile
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Business Description
ITT Inc (ITT) is a provider of engineered products. It is a manufacturer of a wide range of products including pumps, valves, monitoring and control systems, actuators, switches, brake components, shock absorbers, and isolators. It provides products and services to aerospace, defense, automotive, transportation, healthcare, oil and gas, and industrial markets. The company offer its product in North America, Europe, Asia, South America, Middle East, and Africa. ITT operates through three reportable segments: Motion Technologies, Industrial Process and Connect & Control Technologies. In FY2022, its total capital expenditure stood at US$103.9 million, which grew 17.5% YoY.
R&D Overview
The company’s R&D team focuses on designing highly engineered solutions. It strives to develop competitive solutions for the market and works closely with its customers for their very specific requirements. The company also invests in new products and innovation centers. ITT spent US$96.5 million on R&D in FY2022, which as a percentage of revenue, stood at 3.2% and increased 1.7% YoY.
Business Segments
Overview
It offers connector solutions and energy absorption and flow control components for aerospace, defense, general industrial, medical, transportation, and oil and gas markets. Connector products include electrical connectors such as circular, radio frequency, fiber optic, rectangular, micro-miniature, D-sub miniature, and cable assemblies. Control product portfolio provides actuation, noise and energy absorption, fuel management, and environmental control system applications. Major brands include Cannon, VEAM, Aerospace Controls, Enidine, Compact Automation, Neo-Dyn Process Controls, Matrix Composites, Conoflow and BIW Connector Systems. It operates major facilities in the US, China, Mexico, Germany, Italy and Japan. In FY2022, the segment’s capital expenditure stood at US$14.8 million, which grew 74.1% YoY.
Performance
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Overview
It is an original equipment manufacturer and a provider of aftermarket parts and services for industrial pumps, valves and plant optimization systems and services. It serves the requirements of chemical and petrochemical, oil and gas, pharmaceutical, pulp and paper, general industrial, food and beverage, mining and power generation markets. Major brands include Engineered Valves, Goulds Pumps, Bornemann, PRO Services, C'treat, Rheinhitte Pumpen and i-ALERT. Industrial pumps designs and manufactures configured-to-order industry standards-based industrial pumps. Valves products include industrial knife-gate valves, sanitary diaphragm valves and ball valves. Aftermarket solutions include provision of replacement parts, services, and plant optimization solutions. It also develops engineered solutions for process issues. In FY2022, the segment’s capital expenditure stood at US$10.9 million, which grew 62.7% YoY.
Performance
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Overview
It manufactures brake pads, shock absorbers, shims, sealings and energy absorption components. Major industries include transportation industry which covers passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail. It includes three business units: friction technologies, KONI & Axtone, and wolverine business units. Friction Technologies offers brake pads for commercial vehicles and aftermarket brake pads for the automotive service and repairs market. KONI & Axtone serves the railway rolling stock for passenger and freight trains, bus, car, truck and trailer markets. Wolverine provides customized technologies for automotive braking systems and specialized gasket sealing solutions for harsh operating environments. Major brands include ITT Friction Technologies, KONI, Wolverine Advanced Materials, Axtone and Novitek. It operates facilities in North America, Europe and China. In FY2022, the segment’s capital expenditure stood at US$73.2 million, which grew 3% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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