ITT Water & Wastewater to be renamed Xylem
By Murray Pollok03 August 2011
ITT Water & Wastewater, the ITT division that includes the Flygt, Godwin and Grindex pump brands, is to be renamed Xylem as part of the previously announced spin-off of the company before the end of this year.
ITT Corp said at the start of the year that it was to spin off its water and defence businesses into separate companies, and that is planned to take place later this year.
The name Xylem derives from classical Greek and is the tissue that transports water in plants. ITT said it "signifies the company's unique position in the marketplace as a leading equipment and service provider of a broad product line that addresses the full cycle of water - from collection, distribution and use to the return of water to the environment."
Steve Loranger, chairman, president and chief executive officer of ITT, said the new names - the defence business is to be called ITT Exelis - communicate "the strength and unique positioning of our future businesses. We are confident that these new businesses will emerge as leaders in their respective industries".
Meanwhile, ITT has announced two new appointments at the Water & Wastewater division. Mike Kuchenbrod, currently head of ITT's China and India business, has been named president of Water & Wastewater, headquartered in Sweden. Bob Wolpert, president of ITT's Flow Control business, will now assume leadership of the China & India business, in addition to his current responsibilities.
Both Mr Kuchenbrod and Mr Wolpert will report to Gretchen McClain, currently president of ITT Fluid and Motion Control, who will serve as the chief executive officer of the Xylem standalone water company when it spins off from ITT.