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1,800 Employees Based In Rochester to Join New ITT Industries Space Systems Division ROCHESTER, N.Y., August 13, 2004 — ITT Industries, Inc. (NYSE: ITT) and Eastman Kodak Company (NYSE: EK) today announced the completion of the acquisition of Kodak's Remote Sensing Systems (RSS) operations by ITT Industries, a $6 billion global engineering and manufacturing corporation based in White Plains, New York. The acquisition supports ITT Industries' plans to grow its aerospace offering. ITT Industries will combine RSS with its existing meteorological and navigational space payload businesses to form the ITT Industries Space Systems division. The former RSS headquarters on St. Paul Street in Rochester will become the headquarters for the new ITT Industries Space Systems division, with all businesses continuing to operate out of their current locations. James Manchisi, current president of RSS and vice president of Eastman Kodak Company, will be president of the new Space Systems division. Some 2,000 former Kodak employees in RSS, including 1,800 located in Rochester, now become employees of ITT Industries. "We are pleased that this profitable and growing business will continue to be in Rochester," Manchisi said. "We have built outstanding capabilities and an excellent reputation in the aerospace and defense industries over many years, and we will continue that tradition under the banner of ITT Industries." Manchisi said the division already is in a growth mode. "Since the sale was announced in February, the division has added over 150 employees, most of them right here in Rochester," he said. "We will continue to hire people as the business demands, especially in the fields of optical, electrical, and systems engineering and image science." ITT Industries' global headquarters is in White Plains, and it has a strong presence in Upstate New York, including approximately 800 employees within its Fluid Technology group in several facilities, most notably Seneca Falls and Auburn. "Bringing ITT Industries' remote sensing businesses together will enhance the customer offering and accelerate the continuing growth of the collective businesses," Manchisi said. "ITT Industries Space Systems' mission is to continue to provide innovative imaging solutions to customers in Department of Defense, Intelligence, Space Science and Commercial Aerospace to help them visualize and understand critical events happening anywhere on earth, in the air, or in space in time to take effective action." The ITT Industries Space Systems division offering includes:  Intelligence, Surveillance and Reconnaissance systems that collect images and related information critical to our national security Image Information Solutions that provide productivity enhancements to help analysts generate, visualize, exploit and disseminate that information Leading software technologies that provide data visualization, image processing and data analysis capabilities Sophisticated meteorological imagers and sounders used to track severe weather patterns for both commercial and military applications Payload systems and components that have been part of every U.S. GPS navigation system ever launched Commercial remote sensing systems provide high quality imagery information for a variety of applications, from municipal planning and development to environmental monitoring Space science systems, which provide scientists and researchers with imagery and data necessary to understand our universe.
About ITT Industries ITT Industries, Inc. (www.itt.com) 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 $5.63 billion in 2003 sales and employs approximately 36,000 people around the world. In addition to the New York Stock Exchange, ITT Industries stock is traded on the London, Midwest, Pacific, Paris and Frankfurt exchanges. Editor's Note: For additional information about ITT Industries Space Systems visit our Web site at http://www.itt.com/spacesystems © ITT Industries, 2004. |
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