ITT Industries Announces Industrial Expansion of Roanoke Facility to Accommodate Increased Demand for Night Vision Products

Contacts:       Doug Chittum, Director  

                        Roanoke County Economic Development     772-2069

                        Allison Moore, Marketing Specialist

                        ITT Industries Night Vision                             563-0371

ROANOKE, VA. September 26, 2005 – ITT Industries, Inc (NYSE: ITT) today announced its Night Vision group¾the world’s leading developer, producer and supplier of night vision goggles and technology¾was awarded up to $40 million of facilitization funding from the Army Contracting Agency of White Sands Missile Range. As a result the company will commit ITT capital for a total planned investment of $51.8 million for capacity expansion at it’s Roanoke County facility. The expansion will create 250 new well paying jobs, including 50 management-level positions, and is in response to an increased need by the U.S. Military for night vision products. 

The company plans to enhance its production capabilities through building renovation, state-of-the-art manufacturing equipment and site development of its production facility in North Roanoke County.  “The support of the Commonwealth of Virginia and Roanoke County has been instrumental in achieving our mission to outfit U.S. and allied warfighters with life-saving technology,” said Gary Aicher, ITT’s President and General Manager. “ITT’s facility expansion will not only benefit our troops, but our local workforce and Virginia’s economic development as well.”

ITT recently announced a $10 million contract award from the U.S. Army Research, Development & Engineering Command Acquisition Center for production of the first sensor fusion goggle, called the Enhanced Night Vision Goggle (ENVG). The Army then awarded ITT a $40 million option award for additional ENVGs. The ENVG combines image intensification and thermal imaging technologies in one system improving ground soldiers’ mobility and situational awareness through clear target identification and improved target detection.                                                                 

“ITT is an industry leader in night vision and sensor fusion technology, and they are vital to Roanoke County and the surrounding region as a major employer and high-tech manufacturer,” said Doug Chittum, Roanoke County Economic Development Director.

The company was assisted in its award application by Roanoke County, the Virginia Economic Development Partnership and the Virginia Department of Business Assistance (VDBA).  The company will benefit from a $700,000 grant from the Governor’s Opportunity Fund, which will be matched by Roanoke County, and a $150,000 training grant from the VDBA’s Workforce Services Program, which will provide training assistance for the new employees. 

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 $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.