ESM systems play an important role in a submarine's defenses. By monitoring electromagnetic energy, the crew can detect, intercept, locate, or analyze sources of those signals to detect other vessels or objects, and determine if any of these are a threat to the submarine. ITT's solution, based on its ES-3701 precision ESM system, is in use by numerous navies around the world. The system is ideally suited for ship, submarine and coastal surveillance, as well as land-based applications. In addition, the equipment has advanced capabilities for long-range radar signal acquisition, classification and intelligence.
"With our established in-country support and ability to offer early delivery of a solution that provides commonality across the Norwegian fleet, ITT is committed to helping Norway achieve its mission," said Bill Devlin, vice president of ITT's Radar Reconnaissance and Acoustic Systems business area. "This win continues to position us as a premier international supplier of ESM systems."
Work will be performed by ITT's Radar, Reconnaissance and Acoustic Systems business area, a leader in global solutions for battlespace situational awareness, electronic warfare and countermeasures.
ITT Electronic Systems is a leading provider of integrated electronic technology solutions for the U.S. and its allies. Led by world class expertise in electronic warfare and communications technologies, we support the tools to ensure mission success. Additional key technologies include mine defense, naval command/sonar applications, submarine communication and tracking, aircraft armament suspension/release equipment; electronic weapons interface systems, and advanced composite structures and subsystems, antenna systems, and precision landing and air traffic systems.
About ITT Corporation
ITT Corporation (itt.com) is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company reported 2009 revenue of $10.9 billion.
Safe Harbor Statement
Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements that describe the Company's business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future operating or financial performance. Whenever used, words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target" and other terms of similar meaning are intended to identify such forward-looking statements. Forward-looking statements are uncertain and to some extent unpredictable, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such forward-looking statements. Factors that could cause results to differ materially from those anticipated include: Economic, political and social conditions in the countries in which we conduct our businesses; Changes in U.S. or international government defense budgets; Decline in consumer spending; Sales and revenue mix and pricing levels; Availability of adequate labor, commodities, supplies and raw materials; Interest and foreign currency exchange rate fluctuations and changes in local government regulations; Competition, industry capacity and production rates; Ability of third parties, including our commercial partners, counterparties, financial institutions and insurers, to comply with their commitments to us; Our ability to borrow or to refinance our existing indebtedness and availability of liquidity sufficient to meet our needs; Changes in the value of goodwill or intangible assets; Our ability to achieve stated synergies or cost savings from acquisitions or divestitures; The number of personal injury claims filed against the company or the degree of liability; Uncertainties with respect to our estimation of asbestos liability exposures, third party recoveries, and net cash flow; Our ability to effect restructuring and cost reduction programs and realize savings from such actions; Government regulations and compliance therewith, including compliance with and costs associated with new Dodd-Frank legislation; Changes in technology; Intellectual property matters; Governmental investigations; Potential future employee benefit plan contributions and other employment and pension matters; Contingencies related to actual or alleged environmental contamination, claims and concerns; Changes in generally accepted accounting principles; Other factors set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and our other filings with the Securities and Exchange Commission.
The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact: Thomas Scalera / T: +1 914 641 2030 / E: thomas.scalera[.]itt.com.