Xylem launches as new global, pure-play water technology company
Xylem has completed its spinoff from ITT Corporation and begun operations as a $3.2 billion standalone global water technology company...
WHITE PLAINS, NY, Oct. 31, 2011 -- Xylem Inc. (NYSE: XYL) today announced that it has completed its spinoff from ITT Corporation, and has begun operations as a $3.2 billion standalone global water technology company.
Xylem's market-leading product brands, applications expertise and technological strength enable the transport, treatment, testing and efficient use of water in public utility, residential and commercial building services, industrial and agricultural settings. The company serves customers in more than 150 countries to address critical water issues such as growing water scarcity, aging infrastructure and more stringent environmental regulations. On November 1, 2011, Xylem will begin regular trading on the New York Stock Exchange under the ticker symbol XYL, and will be listed on the Standard & Poor's 500 Index.
"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, president and CEO of Xylem. "While our name has changed with the spinoff, our customers will find in Xylem the same commitment to providing local service to meet their specific needs while leveraging our global network, technological strength and applications expertise."
Xylem serves a $30 billion segment of the global water equipment and services market through a distribution network consisting of a direct sales force and independent channel partners. The company's products and services address the full cycle of water and are key in the collection, distribution and use of water. Well-known and respected product brands such as Bell and Gossett, Flojet, Flygt, Godwin, Goulds Water Technologies, WTW and YSI*, among others, will continue their place in the water industry as a part of the Xylem portfolio
Xylem's senior management team has significant water industry expertise and a demonstrated track record of growth and strategic execution. The Company's leadership team includes:
• Gretchen McClain, President and CEO
• Mike Speetzen, Chief Financial Officer
• Mike Kuchenbrod, President, Water Solutions
• Chris McIntire, President, Analytics
• Ken Napolitano, President, Residential & Commercial Water
• Bob Wolpert, President, Flow Control and China & India
• Angela Buonocore, Chief Communications Officer
• Frank Jimenez, General Counsel & Corporate Secretary
• Robyn Mingle, Chief Human Resources Officer
• Colin Sabol, Chief Strategy & Growth Officer
Additional information on Xylem's Board of Directors, the company's information statement and Form 10 Registration Statements filed with the U.S. Securities and Exchange Commission, as well as imagery and additional supporting information about Xylem's launch, can be found within the global press center on the company's website: www.xyleminc.com .
Xylem's corporate citizenship and social investment program, Xylem Watermark, aims to provide and protect safe water resources in communities around the world. Xylem, the company's individual businesses and Xylem Watermark can also be found on major social networks, including Facebook, YouTube, Twitter and LinkedIn.
Xylem applications and solutions help customers around the world solve significant water challenges:
• Xylem pumps help defy gravity by moving water up to the highest floors of one of the world's tallest buildings -- the Burj Khalifa in Dubai -- which stands at more than 2,700 feet. The large pumps help distribute water to all of the offices, condominiums, restaurants and swimming pools in this landmark project, and Xylem variable speed controllers help get it all done in an energy-efficient manner.
• In India, Xylem's large water transport pumps are helping turn arid land into farmland. In one of the largest irrigation projects in the world, Xylem pumps are transporting water 155 miles to the arid Kutch district in Gujurat state. These large vertical turbine pumps are capable of moving 2.2 billion gallons of water per day to help irrigate 175 thousand acres of land to help feed India's people and growing economy.
• Xylem's PulpJet pump is helping a leading global fast food chain reliably deliver thick, blended liquid faster and at pressures more than five times higher than similar competing pumps. This enables our customers, who count on quick service, to meet the growing demand for smoothies and other frozen drinks.
• In Australia, which is experiencing a severe multi-year drought, Xylem water treatment products are helping Sydney Airport to treat and recycle storm water runoff for non-potable uses like cooling towers, washing vehicles and landscape irrigation. This saves the airport about 350 million liters of fresh water a year -- enough water to fill 140 Olympic sized swimming pools.
• Xylem analytical instruments are at work in numerous applications to test and analyze water and other fluids. Last summer when the Deepwater Horizon disaster was spewing oil into the Gulf of Mexico, Xylem's analytical instrumentation was deployed by scientists to detect light hydrocarbons and oxygen depletion associated with the spill. This provided vital information to monitor the long-term effects of water contamination and its threat to marine life.
• And at the site where New York City is rebuilding the World Trade Center, Xylem is supplying hundreds of pumps, nearly every one of the below-ground storm, sump, and wastewater pumps in Towers One, Two, Three and Four, and all phases of the WTC transportation hub. Xylem pumps are also providing the power and flow behind the water in the beautiful 9/11 memorial that opened recently.
* Bell and Gossett, Flojet, Flygt, Godwin, Goulds Water Technologies, WTW and YSI are all registered trademarks of Xylem Inc.