ITT: Policy alignment, resource management, education key to averting water crisis

Policy makers, citizens and industry must find a way to ensure better stewardship of the world's finite water resources to avert massive global water crises in the coming decade, said Steven R. Loranger, chairman and CEO of ITT Industries, a leading water technology company. Loranger's remarks came at a Center for Strategic International Studies forum on global water futures in Washington on Feb. 9...

WASHINGTON, DC, Feb. 9, 2005 (MARKET WIRE) -- Policy makers, citizens and industry must find a way to ensure better stewardship of the world's finite water resources to avert massive global water crises in the coming decade, said Steven R. Loranger, chairman and CEO of ITT Industries, a leading water technology company. Loranger's remarks came at a Center for Strategic International Studies forum on global water futures in Washington this morning.

"Only one% of the water on earth is fresh water, that's never going to change. What can change, however, is the way we manage that water," Loranger said. "There is no single place in the U.S. government to get a comprehensive view of water policy and issues. Local politicians, city planners, farmers, agri-businesses, manufacturers, and citizens must educate themselves and be equally involved in water planning and decision making. Businesses must come together to evaluate water needs and opportunities. Water management must become a priority."

"Our U.S. Congress is an appropriate starting place," Loranger continued. "Lawmakers should review local and national policies in preparation for a national policy, should consider ways to increase revolving funds as sound 'water improvement loans' and find ways to make policy and practice part of an integrated whole. We all must be involved in local, state, and national forums as we make decisions that transcend community and country."

For its part, Loranger said businesses can find opportunities to serve the needs of various constituencies while conserving water in manufacturing.

"Our company, ITT Industries, has developed technology that will help reduce the unit cost of recycling wastewater and desalinating sea water," Loranger said. "We've also found ways to reduce the vast amounts of energy required to treat and move water. Further, we've adopted manufacturing techniques that reduce water consumption and increase recycling."

A complete transcript of Loranger's speech is available on the company's website at www.itt.com/news/.

The Center for Strategic International Studies, along with Sandia National Laboratories will host the second round of the Global Water Futures Forum in Washington, D.C., on March 8-9.

ITT Industries, Inc. (www.itt.com) supplies advanced technology products and services in key markets including: fluid and water management including water treatment; defense communication, opto-electronics, information technology and services; electronic interconnects and switches; and other specialty products. Based in White Plains, N.Y., the company generated $6.8 billion in 2004 sales.

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