WHITE PLAINS, N.Y.--ITT Inc. (NYSE:ITT) announced today that it has completed the previously announced acquisition of Axtone, a leading manufacturer of highly engineered and customized components for railway and other harsh environment industrial markets. The acquisition is highly complementary to ITT’s legacy KONI brand as Axtone produces energy absorption solutions such as springs, buffers and coupler components that are critical safety technologies.
The addition of Axtone’s high-quality portfolio and leading technologies will expand ITT’s strong position across the transportation industry – including railway, aerospace and automotive – and further position the company’s Motion Technologies business as a global transportation leader with strong capabilities and reach to provide a premier experience to customers.
Axtone is headquartered in Kańczuga, Poland, and has approximately 660 employees and six manufacturing locations.
ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the energy, transportation and industrial markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. Founded in 1920, ITT is headquartered in White Plains, N.Y., with employees in more than 35 countries and sales in a total of approximately 125 countries. The company generated 2015 revenues of $2.5 billion. For more information, visit www.itt.com.