Emerging Markets, Acquisitions to Drive New ITT Corp. Profits, CFO Says

Speaking during an investor presentation Oct. 13, ITT Corp. (NYSE: ITT) Chief Financial Officer Denise Ramos said product orders remain steady as the company prepares to split into three companies Oct. 31.

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“We’re not seeing challenges in our orders at this point, ” said Ramos according to a Reuters report. Ramos will become CEO of the new ITT Corp. after it spins off its water and defense businesses.

Ramos also told investors that emerging markets and acquisitions would drive sales and profits for the new ITT Corp., which will provide aerospace, rail, energy and other market components.

ITT announced Oct. 13 that it will acquire Blakers Pump Engineers, an Australian distributor of ITT’s Gould Pumps industrial business.

“Our sweet spot for acquisitions is companies with annual revenues between $15 million and $50 million, ” Ramos said.

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