Honeywell, ITT ink cooperative reselling agreement

A unit of Honeywell Industrial Control and a unit of ITT Industries have agreed to form an alliance under which each unit will resell certain of each other's products.

Phoenix, Arizona, and Seneca Falls, New York, September 5, 2001 — The Hi-Spec Solutions business of Honeywell Industrial Control and the Industrial Pump Group of ITT Industries announced agreements to resell certain of each other's products.

Honeywell will resell ITT Industries' PumpSmart® Control Solutions, and ITT Industries will resell Honeywell's field instruments.

The agreements are the first in a series of activities under an alliance of the companies to jointly develop and market new integrated solutions. The solutions will enable real-time asset management of industrial equipment to reduce energy and maintenance costs.

The two companies are integrating Honeywell's @sset.MAX asset optimization technologies with ITT Industries' PumpSmart, part of the Goulds Pumps line of intelligent flow control products. The new solutions will deliver combined asset management and intelligent flow control capabilities for the process industries-including integration of the first intelligent flow control system with asset management software for on-line monitoring and optimization of critical plant assets.

Virginia Burnell, Vice President and General Manager of Honeywell Hi-Spec Solutions, said, "We are pleased our alliance with ITT Industries broadens the opportunity to bring increased benefits to our customers. Our new solutions will help reduce costs in plant or mill operations and achieve improved process performance."

Ken Napolitano, General Manager of ITT Industries' PumpSmart Control Solutions, said, "Combining the expertise of Honeywell and ITT Industries is the right thing to do for our customers who need to remain competitive with lowered operational costs, improved energy efficiency, and optimized asset utilization."

About ITT Industries

PumpSmart Control Solutions (www.pumpsmart.net) is a division of the Industrial Pump Group of ITT Industries.

ITT Industries, Inc. (http://www.itt.com) supplies advanced technology products and services in key markets including: electronic interconnects and switches; defense communications, opto-electronics, information technology and services; fluid and water management and specialty products.

About Honeywell

Honeywell Hi-Spec Solutions provides solutions that maximize revenue and profitability and enhance cash flow of production-centric companies. As a provider of supply chain optimization, Hi-Spec Solutions helps companies maximize their profitability through an integrated approach to improving manufacturing performance, expanding asset capability, and enabling improved decision making across the supply chain. Hi-Spec Solutions is the advanced applications business group of Honeywell Industrial Control, the worldwide supplier of industrial automation solutions.

Honeywell Industrial Control is a $3 billion global supplier of automation systems, advanced software solutions and value-added services used in a variety of industries including refining, petrochemicals, chemicals, oil and gas, pulp and paper, pharmaceutical, consumer packaged goods, and power generation. Industrial Control is also a global supplier of sensors, switches and control products for automotive, information technology, consumer, aviation and industrial applications. For inquiries, access http://www.iac.honeywell.com.

Additional information on the company is available on the Internet at www.honeywell.com.

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