ITT Inc., formerly ITT Corporation,[2] is an American manufacturing company based in Stamford, Connecticut. The company produces specialty components for the aerospace, transportation, energy, and industrial markets. ITT's three business units are Industrial Process, Motion Technologies, and Connect and Control Technologies.[3]
ITT has over 10,000 employees in more than 35 countries and serves customers in more than 100 countries. The company's long-standing brands include Goulds Pumps, Cannon connectors, KONI shock absorbers, and Enidine energy absorption components.[4]
The company was founded on June 16, 1920 as International Telephone & Telegraph Corporation (I.T. & T.) in Maryland.[5]
ITT divested its telecommunications assets in 1986. In 1995, the company sold off its hospitality portfolio, including Sheraton Hotels and Resorts. In 1996, the current company was founded as a spinoff of ITT as ITT Industries, Inc. It later changed its name to ITT Corporation in 2006.
In 2011, ITT spun off its defense businesses into a company named Exelis (now part of L3Harris Technologies), and its water technology business into a company named Xylem Inc.[6][7] ITT Corporation changed its name to ITT Inc. in 2016.[2]
History
Beginnings and early acquisitions
Following their military service, brothers and former sugar brokers Lt. Hernand Behn[8] and Colonel Sosthenes Behn formed International Telephone & Telegraph (ITT) in 1920. Hernand served as its first president,[9] leading the company until his death in 1933,[10] and growing its assets to over $500 million.[11] Sosthenes served as a second vice-president,[9] and later as chairman.
Previously, the brothers had first acquired the bankrupt Puerto Rico Telephone Company
Headquarters
In 1929, ITT's headquarters were at (75) 67 Broad Street, Manhattan, New York, New York.[74] "During World War II the building was a hub for communications with American submarines operating in the Atlantic Ocean."[75]
From 1961[76] to 1989,[77] ITT's headquarters were at 320 Park Ave., New York.[78]
1330 Sixth Avenue in Manhattan, New York City, which was ITT's corporate headquarters prior to its merger with Starwood, was originally owned by the American Broadcasting Company
ITT Avionics
ITT Avionics was a division of ITT Corporation in Nutley, New Jersey. A 300-foot research tower at ITT Avionics just off Washington Ave. (Nutley, New Jersey) was built in 1947 for scientists to research microwave communication systems. Research at the tower had stopped in the 1970s.[80] On the morning of April 4, 1996, at 10:00 am, the tower was demolished with explosives to prepare the site for sale.
In October 1989, the Naval Air Systems Command (NAVAIR) awarded a contract to ITT Avionics for production of an Airborne Self-Protection Jammer (ASPJ), and a similar contract was issued to Westinghouse Electric Corporation. Westinghouse and ITT had worked together with the U.S. government to develop the ASPJ. The contract was later terminated by the government for convenience because the ASPJ failed independent operational test and evaluation (OPEVAL) procedures.[81]
In 1991, the company won a $19.6 million contract from the United States Air Force to develop the "intraflight data link," a communications system for "tactical airborne forces".[82]
Consumer electronics
Through their then subsidiary Schaub Elektrik Lorenz, ITT manufactured consumer products under the ITT Schaub-Lorenz brand, such as Touring radio receivers and Ideal Color television sets employing Heliochrom picture tubes.[84]
Some television models feature the Ideal-Computer cartridge system, featuring a slot suitable for housing an ultrasonic remote control (acting as front panel buttons while docked), a teletext decoder, or Tele-Match video game dedicated consoles[85] (unrelated to the "ITT Telematch Processor" console, a rebrand of the Fairchild Channel F); the Ideal-Computer system was licensed to other German producers of its time.
ITT Schaub-Lorenz was also behind the Digivision, the first television employing digital signal processing of the image.[86]
For a comparable time span, ITT had also controlled and then fully absorbed English radio and television manufacturer Kolster-Brandes.
Customers and programs
Federal Aviation Administration NextGen
In 2007, ITT was awarded a $207 million initial contract by the Federal Aviation Administration (FAA) to lead a team to develop and deploy the Automatic Dependent Surveillance – Broadcast (ADS-B) system. ADS-B is a key component of the FAA's NextGen air traffic control modernization program intended to increase safety and efficiency to meet the growing needs of air transportation.[91] ITT is responsible for overall system integration and engineering and under contract options will operate and maintain the system after deployment through September 2025. The ITT team includes its partners AT&T, Thales North America, WSI, SAIC, PricewaterhouseCoopers, Aerospace Engineering, Sunhillo, Comsearch, MCS of Tampa, Pragmatics, Washington Consulting Group, Aviation Communications and Surveillance Systems (ACSS), Sandia Aerospace, and NCR Corporation.
GeoEye-1
On September 6, 2008, the ITT-built imaging payload was launched aboard the GeoEye-1 satellite to provide high-resolution earth imaging. The satellite has the ability to collect images at 0.41-meter panchromatic (black and white) and 1.65-meter multispectral (color) resolution.
See also
- ITT Visual Information Solutions
- ITT Interconnect Solutions
- Top 100 US Federal Contractors
Further reading
- Calvo, Angel. "State, firms and technology. The rise of multinational telecommunications companies: ITT and the Compañía Telefónica Nacional de España, 1924–1945." Business History (2008) 50#4 pp: 455–473.
- Ledbetter, Rosanna. "ITT: A multinational corporation in Latin America during World War II." Historian (1985) 47#4 pp: 524–537.
- Sisaye, Seleshi. "Contingencies influencing the effectiveness of acquisition-based corporate growth and development strategies: the case of ITT, 1920-1997." Leadership & Organization Development Journal (1998) 19#5 pp: 231–255.
External links
References
- ANNUAL REPORT 2022 ITT, February 15, 2022, retrieved November 17, 2023^
- ITT History ITT Inc., retrieved 2017-08-02^
- At a Glance ITT Inc., retrieved 2019-01-09^