ITT Finalizes Sale of CAS to Wyle; Dave Melcher Speaks

ITT Corporation (NYSE: ITT) wrapped up the sale of CAS, Inc., the firm’s systems engineering and technical assistance (SETA) services business, to Wyle for $235 million.

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“We are pleased to have completed the sale of this business to a company that can position it for future growth, ” Dave Melcher, ITT senior vice president and president of its Defense and Information Solutions business, said. “As ITT continues our portfolio alignment strategy, this divestiture will also allow us to focus on growth in other parts of our business.”

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