The agreement contains a US$50 million minimum contract commitment, with a total potential value of US$80 million in revenue over the term. This is the largest single contract ever awarded to Goulds Pumps, ITT’s industrial pump and valve manufacturer.
Goulds Pumps, part of ITT’s Industrial Process (IP) segment, will provide heavy duty engineered centrifugal pump systems and aftermarket parts and services to ExxonMobil to support its existing operations, primarily in North America. Under the agreement, ExxonMobil can leverage proprietary ITT technology to enhance the user experience while lowering the total cost of ownership through shortened project cycle times. Goulds Pumps will also provide enterprise-wide support and a dedicated global project management team to oversee execution of the agreement.
“We are humbled and honored to partner with a blue-chip energy company like ExxonMobil on this important award. 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.,” said Luca Savi, ITT’s CEO and president. “The award is a testament to the work our teams have done to position ITT as a supplier of choice for flow applications worldwide.”