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ITT AUTOMOTIVE ANNOUNCES RECORD BACKLOG FOR ANTI-LOCK BRAKE SYSTEMS TOTALING $7.5 BILLION

    TRAVERSE CITY, Mich., Aug. 5 /PRNewswire/ -- ITT Automotive announced today from the University of Michigan Automotive Management Briefing Seminars in Traverse City that it has reached a record backlog for its ITT Automotive Teves anti-lock brake and traction-control systems of $7.5 billion through 1998.  ITT Automotive has just received confirmation of a major award from a European vehicle producer that brings the total backlog for ABS to this historic level, according to Timothy D. Leuliette, president and chief executive officer, ITT Automotive and senior vice president, ITT Corporation (NYSE: ITT).
    "This most recent award for our new ITT Automotive Teves MK20 ABS, worth approximately $1 billion over its lifetime, further strengthens ITT Automotive's position as the world's largest supplier of four-wheel ABS systems," said Leuliette.  "We are pleased with the confidence that our customers around the world are continuing to place in ITT Automotive Teves ABS and traction-control systems.  By working closely with our customers on early sourcing decisions, technology development and target pricing decisions, we are able to plan our capacity requirements to meet our customer requirements well into the future."
    The MK20, based on ITT Automotive's MKIV-Gi ABS technology, is oe of the lightest, most compact and cost-effective ABS systems in the industry, featuring a modular concept for the highest level of component standardization.  Its efficient design enables ITT Automotive to meet market requirements throughout the world, including North America, Europe, Japan and the Far East, a concept called "World ABS."
    ITT Automotive has formal contracts and/or letters of commitment from BMW, Chrysler, Ferrari, Ford North America and Europe, General Motors North America and Europe, Honda, Jaguar, KIA, Mercedes Benz, Mitsubishi, Peugeot, Renault, SAAB, Volkswagen, and Volvo for ITT Automotive Teves ABS and traction-control systems.
    ITT Automotive opened its second North American ABS facility earlier this year in Morganton, N.C., and increased capacity at its Frankfurt, Germany, and Mechelen, Belgium, plants to meet current contract requirements.  ITT Automotive also supplies other Pacific Rim vehicle manufacturers with ABS and traction-control systems through technology agreements and joint ventures.
    ITT Automotive, headquartered in Auburn Hills, Mich., is a $3.5 billion global supplier to the automotive industry that comprises eight product groups.  They are Brake Systems, including ITT Automotive Teves anti-lock brakes, traction-control and total brake systems; Wiper Systems, including ITT Automotive SWF wipers, arms, blades and total wiper systems; Fluid Handling Systems; Precision Die Castings; Structural Components; Switches and Lamps; Electric Motors; and Aftermarket Products, including Koni shock absorbers and Aimco brake components.
    ITT Corporation, with 1992 sales revenues of $21.7 billion, is a diversified, multinational enterprise.
    -0-             08/05/93
    CONTACT:  Gerald Jusco, 616-938-5160, or Val Brown, 313-340-3680, both of ITT Automotive
    (ITT) CO:  ITT AUTOMOTIVE IN:  AUT ST:  MI


-- DE020 -- X239 08/05/93
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Publication:PR Newswire
Date:Aug 5, 1993
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