ITT Corporation

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ITT Corporation is a major military contractor, with "approximately 40,000 employees operating in 55 countries," according to its website. Its main business areas are fluid technology, defense electronics and services, and motion and flow control. [1]

In 2007, 39% of ITT's revenues came from its fluid technology business, and 46% from its military electronics and services business. ITT is the "world's largest supplier of pumps and systems to transport, treat and control water and other fluids." [1]

Bribing Chinese officials

In February 2009, the U.S. Securities and Exchange Commission (SEC) announced settlement of bribery charges against ITT and its Chinese subsidiary, Nanjing Goulds Pumps Ltd. "The bribes were made by executives of Nanjing Goulds Pump to Chinese government officials from 2001 through 2005, and totaled about $200,000 in illicit payments. The alleged bribes were used prod clients to buy more than $4 million worth of industrial water pumps, and the SEC contends that ITT collected more than $1 million in illegal profits from the sales. ... ITT agreed to disgorge $1.4 million and pay a $250,000 civil penalties," a relatively light penalty because ITT had reported the incidents to the SEC. [2]

Public relations

In February 2009, ITT hired the public relations firm Edelman, to promote the company "in the defense in the defense and commercial markets, as well as raise awareness of its ongoing CSR," or corporate social responsibility, efforts. The company especially wants to highlight ITT Watermark, a "corporate philanthropy program that works to provide safe water around the world." The PR firm Cone helped develop the ITT Watermark program. Edelman's Russell Dubner said his firm will promote ITT with "a mixture of influencer engagement, thought leadership, and good-old fashioned media outreach." Peppercom did PR work for ITT for seven years, previous to Edelman's being hired. [3]

ITT Watermark

ITT launched its "ITT Watermark" program in 2008. The company pledged "$3 million over the next three years to provide safe water solutions -- new wells, improved sanitation facilities and hygiene education -- to 300 schools in water-stressed regions in developing countries in Asia and Latin America." [4]

As part of "ITT Watermark," the company has partnered with Mercy Corps, in a "three-year, $1 million commitment to help provide safe water during water-related emergencies such as floods, hurricanes and cyclones" [5]; and with Water For People. ITT describes Water For People as its "strategic partner" in providing water infrastructure and education in developing countries. In 2008, the company said it would "support 50 schools in Latin America and Asia, including schools in West Bengal, India; Quiche, Guatemala; and Yoro, Honduras. ITT will extend its support to an additional 100 schools in 2009, and another 150 schools in 2010." [6]

Other ITT partners in its water-related work include the Water Environment Federation, International Water Association, World Business Council for Sustainable Development, International Water Academy, and National Geographic. [7]

Lobbying

ITT spent $480,000 on lobbying expenses in 2007. As of February 2009, it had two in-house lobbyists, Jon Arthur Anderson and Richard McInnis. ITT also retains the lobbying firms of Cyber Security Research Consultants, on "homeland security" issues; ENS Resources, on environmental, natural resources / Superfund, and clean air and water quality issues; Denny Miller Associates; and The PMA Group, on defense issues. [8]

ITT also has a political action committee, ITT Industries PAC. [9]

Contact information

Global Headquarters
ITT Corporation
1133 Westchester Avenue
White Plains, NY 10604

Phone: 914-641-2000
Fax: 914-696-2950
Website: http://www.itt.com

Articles and resources

Related SourceWatch articles

References

  1. 1.0 1.1 "About us: Company profile," ITT Corporation website, accessed February 2009.
  2. Marie Leone, "Halliburton, ITT Settle Bribery Charges," CFO.com, February 11, 2009.
  3. Tonya Garcia, "ITT awards Edelman with account," PR Week, February 3, 2009.
  4. "Corporate responsibility: community," ITT Corporation website, accessed February 2009.
  5. Press release, "ITT announces strategic partnership with Mercy Corps to provide emergency relief: Philanthropic program to provide safe water solutions in wake of natural disasters," ITT Corporation, October 20, 2008.
  6. Press release, "ITT unveils ITT Watermark, announces strategic partnership with Water For People: Philanthropic program to provide water and sanitation to 300 schools in Asia and Latin America," ITT Corporation, August 18, 2008.
  7. "ITT's Water Leadership," ITT Watermark website, accessed February 2009.
  8. "ITT Corporation," Lobbyists.info (sub req'd), accessed February 2009.
  9. "PACs: ITT Industries, 2008 data," OpenSecrets.org, accessed February 2009.

External resources

External articles

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