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ITT Calls for Investment, Cooperation at World Water Week in Stockholm

Posted on: Wednesday, 20 August 2008, 12:00 CDT

ITT Corporation executives emphasized the need for greater investment in infrastructure, education and new technology solutions for emerging economies, as well as encouraged dialogue among key stakeholders at this week's World Water Week conference in Stockholm.

"Responsible management of the water cycle has global implications as water resources become scarcer," said Gretchen McClain, president of ITT's fluid technology business. "Business, government and other interested stakeholders must be in a position to invest in infrastructure and technology to provide clean water, and to educate citizens on the importance of clean water and sanitation. The benefits of sustainable water management will be felt across society and around the world, through healthier populations and stronger economies. It's critical that all key stakeholders maintain an ongoing dialogue to ensure efficient use of financial and natural resources to bring clean water and sanitation to more people."

Drawing on the company's commitment to protecting the world's water and improving the quality of life, Colin Sabol, vice president of Marketing and Business Development, discussed the need for businesses to develop decentralized, lower-cost technology solutions for use in rural areas of developing countries.

"Sanitation investment is the single most cost-effective health intervention," Sabol said. "Delivering cost-effective and proven technologies that can be maintained efficiently and locally can eliminate many preventable diseases that devastate vulnerable populations."

Also at World Water Week, ITT announced ITT Watermark, its new corporate philanthropy program, including a partnership it has formed with Water for People, a non-profit international development organization. ITT Watermark aims to provide sustainable water and sanitation to 300 schools in Asia and Latin America, improving health and education standards for generations to come. ITT's three-year, $3 million commitment to the project includes building sustainable water infrastructures while creating local water committees that will take ownership of the facilities and maintain them over time.

About ITT Corporation

ITT Corporation (www.itt.com) is a diversified high-technology engineering and manufacturing company dedicated to creating more livable environments, enabling communications and providing protection and safety. The company plays an important role in vital markets including water and fluids management, global defense and security, and motion and flow control. ITT employs approximately 40,000 people serving customers in more than 50 countries. Headquartered in White Plains, N.Y., the company generated $9 billion in 2007 sales.

Source: Business Wire

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