Beijing, June 13, 2002 - ITT Industries Inc. Chairman Louis Giuliano Thursday announced that the company is in discussion with the State Environmental Protection Administration (SEPA) in China to sponsor China's entry into the prestigious Stockholm Junior Water Prize starting in 2003.
ITT Industries employs more than 6,000 people in twelve facilities in China, producing pumps and electronic components.
It is a global sponsor of the Stockholm Junior Water Prize (SJWP). The SJWP is an international environmental award honoring the world's most outstanding water science research projects by a young person or group of young people.
The award is presented by Her Majesty the Crown Princess Victoria at the Stockholm, Sweden Water Symposium in August of each year.
"As a significant corporate citizen of China for many years, and as a leading producer of technology that is used to clean water, we are especially pleased to sponsor China's entry into this prestigious international environmental competition," said Lou Giuliano, Chairman, President and Chief Executive Officer of ITT Industries.
"The Asia region, and China in particular, are very important to our company. ITT anticipates that it will increase its involvement in the local market, expanding our current participation in the water treatment market and supplying our electronics customers with locally manufactured components. Our sponsorship of China's entry in the Stockholm Junior Water Prize is another way to show our friendship with China."
Giuliano is in China to meet with ITT's local management to discuss business development and investment opportunities. In addition to Beijing, he is visiting ITT facilities in Tianjin.
ITT Industries and its predecessor companies have long been active in China. Since becoming an independent company in 1995, ITT Industries has enhanced its reputation in China's business and government communities as a technological leader in several major industries.
With more than 6,000 employees and total investment of over $100 million, ITT Industries manages its investments in China through a Beijing holding company. There are manufacturing facilities or sales offices in most of China's major cities.
The Stockholm Junior Water Prize was founded by the Stockholm Water Foundation in 1997, and now draws student entries from more than 20 countries including Australia, Argentina, Finland, India, South Africa and Thailand.
Students submit entries in their home countries, then the winner from each country and an accompanying adult are flown to Sweden for the Stockholm Water Symposium. During the five-day symposium, they exhibit their projects to the international nominating committee, and participate in lectures, study tours and social events.
The international winner of the SJWP receives US$5,000 and a water sculpture. One honorable mention is selected and receives a US$1,000 award.
ITT Industries, Inc. (www.itt.com) supplies advanced technology products and services in key markets including: electronic interconnects and switches; defense communication, opto-electronics, information technology and services; fluid and water management and other specialty products. Headquartered in White Plains, NY, the company generated $4.7 billion in 2001 sales.
