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About ITT Corporation
ITT Corporation (ITT) is a global manufacturing company based in the United States, producing specialty components for the aerospace, transportation, energy and industrial markets.
The company was founded in 1920 as International Telephone & Telegraph. During the 1960s and 1970s, under the leadership of CEO Harold Geneen, the company rose to prominence as the archetypal conglomerate, deriving its growth from hundreds of acquisitions in diversified industries. ITT divested its telecommunications assets in 1986, and in 1995 spun off its non-manufacturing divisions, later to be purchased by Starwood Hotels & Resorts Worldwide.
In 1996, the current company was founded as a spinoff of ITT as ITT Industries, Inc. and changed its name to ITT Corporation in 2006.
In 2011, ITT spun off its defense businesses into a company named Exelis, and its water technology business into a company named Xylem Inc.