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ITT's defense and information Solutions business is now an independent ITT Exelis and ITT Corp. becomes a $2 billion company focused on four markets.
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ITT Defense and Information Solutions business officially will become ITT Exelis on October 31, a publicly traded stand-alone business.
ITT Corp.'s Defense & Information Solutions business segment, which is being spun off as a separate entity renamed ITT Exelis, will establish its headquarters in the Tysons Corner area of Fairfax County.
Following completion of ITT’s three-way split, the new defense company will be named ITT Exelis.
ITT Corp. has named retired Army Lt. Gen. Robert Durbin vice president of government relations for its ITT Defense & Information Solutions segment.
ITT Corp. has taken the next required step in its plan to separate into three distinct, publicly traded companies by filing Form 10 Registration Statements with the Securities and Exchange Commission.
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ITT Corp. will split into three companies later this year and its defense unit is ready for some independence.
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ITT Corporation will separate the company’s businesses into three distinct, publicly traded companies following unanimous approval of the plan by the board of directors. Under the plan, the company would execute tax-free spinoffs to shareholders of its water-related businesses and its Defense & Information Solutions segment.