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FORT WAYNE, Ind., August 13, 2008 - ITT Corporation (NYSE: ITT) today announced that its Communications Systems business has been awarded a five-year Foreign Military Sales (FMS) contract by the U.S. Army Communications Electronics Command (CECOM). This Indefinite Delivery/Indefinite Quantity (IDIQ) contract was awarded through the Security Assistance Management Directorate (SAMD), Ft. Monmouth, N.J., for the manufacture and delivery of communications and electronics equipment and services required by international customers through the Foreign Military Sales program.
The FMS program is the government-to-government method for selling U.S. defense equipment, services, and training to allied nations. The five-year FMS contract contains an option for a sixth year and has a potential value of $490 million over the life of the contract.
“We are very pleased to be able to support both the U.S. Army CECOM and our nation's allies through this FMS contract,” said Ken Peterman, president of ITT Communications Systems. “It allows us the flexibility to meet the varied needs of our important international customers with an array of ITT products and services. We look forward to doing our part in helping provide U.S. allies with the communications necessary for a strong defense.”
About ITT Corporation
ITT Corporation (www.itt.com) supplies advanced technology products and services in several growth markets. ITT is a global leader in water and fluid transport, treatment and control technology. The company plays a vital role in international security with communications and electronics products; space surveillance and intelligence systems; and advanced engineering and services. It also serves a number of growing markets—including marine, transportation and aerospace—with a wide range of motion and flow control technologies. Headquartered in White Plains, N.Y., the company employs approximately 35,000 people and generated $7.8 billion in 2006 sales.
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Contacts:
Tim White
260-451-7145
Tim.White@itt.com
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