ITT Announces Global Supply Agreeement with Shell Global Solutions

SENECA FALLS, NY — 02/21/2012 (CRWENEWSWIRE) — ITT Corporation (NYSE:ITT) announced today an Enterprise Framework Agreement with Shell Global Solutions in which ITT’s Goulds Pumps brand will provide American Petroleum Institute (API) centrifugal pumps to support Shell operations worldwide.

Shell Global Solutions is part of the Shell Group, a global leader in the energy and petrochemical markets.

Under the agreement, Goulds Pumps, a leading product brand of ITT and a leader in API pumps, will supply these pumps in several configurations to Shell operations and affiliates worldwide.

“The agreement with Shell is another significant milestone in ITT’s strategic focus and commitment to support the oil and gas sector with world-class pumps and systems throughout the total life cycle of the equipment,� said Robert Pagano Jr., president of ITT’s Industrial Process business.

“Oil and gas is now the largest segment of our Industrial Process business, and we are proud to be able to support our customers with solutions engineered to their needs. Our services do not stop at installation. We also provide a comprehensive range of aftermarket services to support our customers’ operations anywhere in the world.�

The Enterprise Framework Agreement is for five years with an option for an additional five years. Shell applied a comprehensive process in selecting ITT Goulds Pumps, and this agreement includes the development of common specifications, terms and conditions, and pricing.

The Goulds Pumps brand is part of ITT’s Industrial Process business, a dynamic business that is growing and expanding globally and has an extensive portfolio of leading-edge technology that has served customers in the oil and gas, mining, chemical, power generation, biopharmaceutical, and general industries markets for more than 160 years. Industrial Process product lines include pumps, valves, monitoring and control systems, water treatment, and aftermarket services.

Goulds Pumps has more than 40 years of experience in engineering, manufacturing, repairing and upgrading API pumps. It has a wide portfolio of proven API pumps, serving multi-national companies and national organizations around the world.

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for growing industrial end-markets in energy infrastructure, electronics, aerospace and transportation. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. Founded in 1920, ITT is headquartered in White Plains, N.Y., with employees in more than 15 countries and sales in more than 125 countries. The company generated 2011 revenues of approximately $2 billion. For more information, visit www.itt.com.

Source: ITT Corporation

Contact:
ITT
Investors:
Melissa Trombetta, +1-914-641-2032
melissa.trombetta@itt.com
or
Media
Margaret Gan, +1-315-568-7124
margaret.gan@itt.com
or
Kathleen Bark, +1-914-641-2103
kathleen.bark@itt.com

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