ITT spins off water technology company Xylem

“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, Xylem president and CEO.

The Xylem brand portfolio includes Bell and Gossett, Flojet, Flygt, Godwin, Goulds Water Technologies, WTW and YSI.

Headquartered in White Plains, New York, Xylem has 12 000 employees worldwide.

Xylem will begin regular trading on the New York Stock Exchange on 1 November 2011 under the ticker symbol XYL.