SOURCE: ITT Industries

May 10, 2005 09:52 ET

ITT Industries Holds Annual Shareholder Meeting

TARRYTOWN, NY -- (MARKET WIRE) -- May 10, 2005 -- ITT Industries, Inc. (NYSE: ITT) Chairman, President and Chief Executive Officer Steve Loranger credits the company's leadership team and 44,000 employees with "outstanding performance" in 2004, and re-iterates his confidence in further growth for the company in 2005. Loranger's scripted remarks are scheduled to come at the tenth annual meeting of ITT Industries shareholders at Tappan Hill, Tarrytown, New York this morning.

"Successful years like the one ITT just completed don't just happen overnight, but are made possible over time by the hard work, customer focus and innovation of many thousands of ITT employees around the world," Loranger says. "The entire leadership team compiled a winning business portfolio and initiated improvement programs that have produced outstanding results, and offer a terrific platform for continued growth and improvement in 2005 and beyond."

In other business, shareholders ratified the selection of Deloitte & Touche as the corporation's outside auditors and re-elected members of ITT Industries' Board of Directors. Shareholders also approved an amendment to allow the company to increase the number of authorized shares of Common Stock of the Company from 200 million to 250 million shares. As of May 9, 2005, approximately 92.3 million shares of Common Stock were issued and outstanding.

About ITT Industries

ITT Industries, Inc. ( supplies advanced technology products and services in key markets including: fluid and water management including water treatment; defense communication, opto-electronics, information technology and services; electronic interconnects and switches; and other specialty products. Headquartered in White Plains, NY, the company generated $6.8 billion in 2004 sales.

In addition to the New York Stock Exchange, ITT Industries stock is traded on the Midwest, Pacific, Paris, London and Frankfurt exchanges.

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Certain material presented herein consists of "forward-looking statements" within the meaning of federal securities laws and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed in, or implied from, such forward-looking statements. Such factors include general economic conditions, foreign currency exchange rates, competition and other factors all as more thoroughly set forth in Item 1. Business and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations -- Forward-Looking Statements in the ITT Industries, Inc. Form 10-K Annual Report for the fiscal year ended December 31, 2004, and other of its filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Tom Glover
    (914) 641-2160

    4 West Red Oak Lane
    White Plains, NY 10604
    tel 914 641.2000
    fax 914 696.2950