NFPA member news is designed to inform members of key industry updates in quick, bite-sized posts that provide only the most important information. This week’s update comes from ITT Corporation.
ITT Corporation announced last week it has signed an agreement to acquire Axtone. The transaction is expected to close in the first quarter of 2017.
Axtone manufactures energy absorption components such as springs, buffers, and couplers for railway and other harsh-environment industrial markets. The acquisition is a strategic one and will expand ITT Corporation’s existing portfolio.
“Expanding our strong positions across the transportation industry – including railway, aerospace and automotive – is key to ITT’s strategy,” said ITT CEO and President Denise Ramos. “The addition of Axtone’s high-quality portfolio and leading technologies will serve to further position our growing Motion Technologies business as a global transportation leader with strong capabilities and reach to provide a premier experience to our customers.”
Read the full release here.
Is your company making news? Let us know! Send your press releases regarding acquisitions, key personnel changes, moves, and expansions to Katrina Schwarz at firstname.lastname@example.org.
NFPA’s latest Economic Update Webinar recording is now available to all members for free. See the latest insights from Patrick Luce of ITR Economics on global issues, the US economy, interest rates, inflation, and more. Patrick also speaks to the latest fluid power forecasts from 4th quarter ITR forecast report. View the webinar, download slides,…
Iowa State University faculty, Dr. Brian Steward was team leader in designing and creating the Off-Highway Vehicle Chassis Dynamometer Laboratory (Dyno Lab). Located in the heart of the Midwest, it is an excellent tool for manufacturers and students within the area. This Dyno lab will be one of few facilities used to test large farm…
Carrie Berger Administrative Manager, National Fluid Power Association As the Administrative Manager here at NFPA, I wear a lot of different hats around the association. I have been here almost three years and have grown in my position over that time. I coordinate staff events as well as help plan and prepare for many of…