WHITE PLAINS, N.Y. – Xylem Inc. (NYSE: XYL) today announced that it has completed its spinoff from ITT Corp., and has begun operations as a $3.2 billion standalone global water technology company. Xylem’s product brands, applications expertise and technological strength enable the transport, treatment, testing and efficient use of water in public utility, residential and commercial building services, industrial and agricultural settings. The company serves customers in more than 150 countries to address critical water issues such as growing water scarcity, aging infrastructure and more stringent environmental regulations. On Nov. 1, 2011, Xylem will begin regular trading on the New York Stock Exchange under the ticker symbol XYL, and will be listed on the Standard & Poor’s 500 Index.
“I’m extremely proud to announce the launch of a unique company, the product of more than 100 years of experience in the water business and the collective work and expertise of our nearly 12,000 employees and our strategic partners around the world,” said Gretchen McClain, president and CEO of Xylem. “While our name has changed with the spinoff, our customers will find in Xylem the same commitment to providing local service to meet their specific needs while leveraging our global network, technological strength and applications expertise.”
Xylem serves a $30 billion segment of the global water equipment and services market through a distribution network consisting of a direct sales force and independent channel partners. The company’s products and services address the full cycle of water and are key in the collection, distribution and use of water. Well-known and respected product brands such as Bell and Gossett, Flojet, Flygt, Godwin, Goulds Water Technologies, WTW and YSI, among others, will continue their place in the water industry as a part of the Xylem portfolio.
Xylem’s senior management team has significant water industry expertise and a demonstrated track record of growth and strategic execution. The Company’s leadership team includes:
Gretchen McClain, President and CEO
Mike Speetzen, Chief Financial Officer
Mike Kuchenbrod, President, Water Solutions
Chris McIntire, President, Analytics
Ken Napolitano, President, Residential & Commercial Water
Bob Wolpert, President, Flow Control and China & India
Angela Buonocore, Chief Communications Officer
Frank Jimenez, General Counsel & Corporate Secretary
Robyn Mingle, Chief Human Resources Officer
Colin Sabol, Chief Strategy & Growth Officer
Launched in 2011 from the spinoff of the water-related businesses of ITT Corporation, Xylem is headquartered in White Plains, N.Y., with 2010 annual revenues of $3.2 billion and 12,000 employees worldwide.
Bell and Gossett, Flojet, Flygt, Godwin, Goulds Water Technologies, WTW and YSI are all registered trademarks of Xylem Inc. Additional information is available at http://www.xyleminc.com.