ITT in New Partnership with ExxonMobil

Stamford-headquartered ITT Inc. (NYSE: ITT) has signed a three-year agreement for the supply of API-610 centrifugal pump systems and related products and engineered services to ExxonMobil (NYSE:XOM).

According to the companies, the agreement contains a $50 million minimum contract commitment, with a total potential value of $80 million in revenue over the term. The deal also represents the largest single contract awarded to Goulds Pumps, ITT’s industrial pumps and valves manufacturer, which will provide heavy duty engineered centrifugal pump systems and aftermarket parts and services to ExxonMobil in support of its operations, primarily in North America.

“We are humbled and honored to partner with a blue-chip energy company like ExxonMobil on this important award,” said Luca Savi, ITT’s president and CEO. “Our teams in North America, India and South Korea will work hard to serve ExxonMobil locally in each region to deliver high-quality pumps that meet our customer’s expectations, and to provide a frictionless customer experience. The award is a testament to the work our teams have done to position ITT as a supplier of choice for flow applications worldwide.”