20 Facts About ITT Corporation

ITT Inc, formerly ITT Corporation, is an American worldwide manufacturing company based in Stamford, Connecticut.

ITT Corporation produces specialty components for the aerospace, transportation, energy and industrial markets.

ITT Corporation divested its telecommunications assets in 1986, and in 1995 spun off its non-manufacturing divisions, later acquired by Starwood.

In 1925, ITT Corporation purchased several companies from Western Electric, as Bell had agreed to "divest" itself of its international operations.

In 1951, ITT Corporation purchased Philo Farnsworth's television company to break into that market.

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One prominent subsidiary of this was the American Cable and Radio ITT Corporation, which operated the transatlantic cables of the Commercial Cable Company, among other ventures.

ITT Corporation was the largest owner of the LM Ericsson company in Sweden but sold out in 1960.

In 1965, ITT Corporation attempted to purchase the ABC television network for $700 million.

Under Geneen, ITT Corporation bought over 300 companies in the 1960s, including some hostile takeovers.

ITT Corporation absorbed smaller operations in auto parts, energy, books, semiconductors and cosmetics.

When ITT Corporation attempted to acquire The Hartford insurance company in 1970, the US Justice Department filed suit, and ITT Corporation agreed to divest assets equal to those of Hartford's, including Avis.

ITT Corporation's sales grew from about $700 million in 1960 to about $8 billion in 1970, and its profit from $29 million to $550 million.

ITT Corporation became enmeshed in scandal in connection with the 1972 Republican National Convention.

The resulting scandal, including a Senate investigation and the threat of criminal charges, caused ITT Corporation to withdraw its support for the San Diego convention.

In March 2007, ITT Corporation became the first major defense contractor to be convicted for criminal violations of the U S Arms Export Control Act.

In 1929 ITT Corporation's headquarters were at 67 Broad Street, Manhattan, New York, New York.

Westinghouse and ITT Corporation had worked together with the U S Government to develop the ASPJ.

ITT Corporation Schaub-Lorenz was behind the Digivision, the first television employing digital signal processing of the image.

In 2007, ITT Corporation was awarded a $207 million initial contract by the Federal Aviation Administration to lead a team to develop and deploy the Automatic Dependent Surveillance – Broadcast system.

ITT Corporation is responsible for overall system integration and engineering and under contract options will operate and maintain the system after deployment through September 2025.