ITT Corporation (ITT) has received a $72.2 million contract from the Army to provide a night vision imaging system for aviators. Work is to be performed in Roanoke, VA and is expected to be completed by Sept. 30, 2012.
Enhanced Night Vision Goggle (ENVG) optically combines an image intensification image, and proven thermal infrared technology, allowing for improved mobility and situational awareness—through clear target detection and improved target recognition. The ENVG combines the strengths of both technologies into one helmet-mounted unit, allowing war fighters to complete their missions more effectively, even when confronted by low-light or obscured conditions.
ITT’s Night Vision business is the world’s leading developer, producer and supplier of head- and helmet-mounted night vision solutions and image intensifiers for U.S. and allied military forces as well as the Homeland Security market. ITT has served the U.S. military with premier research, development, production and logistics for analog and digital fusion solutions for 50 years. ITT delivered its one millionth Gen 3 image intensification tube in 2007.
ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provides protection and safety and connects the world. Major Competitors include Lockheed Martin Corporation (LMT) and Raytheon Company (RTN).
We currently have a Neutral recommendation on ITT.
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