ITT Goulds Pumps and United Steelworkers Local 3298 Contract Ratification

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    SENECA FALLS, N.Y., July 28, 2012 – Goulds Pumps, Inc., a division of ITT Corporation (NYSE:ITT) and the United Steelworkers International and Local 3298 have entered into a new five-year agreement effective July 28, 2012, at 12:01 A.M. The terms have been ratified by the bargaining unit at a vote conducted Saturday morning.

    The contract provides improvements in wages, pension, 401-K, health care benefits and other terms and conditions.

    Ron Golumbeck, vice president and director of Human Resources said, “This agreement will provide stability and continuity that will allow for continued growth at our New York location. The Bargaining Committee was professional and negotiated an overall package that will keep the wage and benefit package very competitive compared to local market conditions.”

    Mison La-Seigna, president of United Steelworkers Local 3298 said, “The Company and Union have in good faith entered into the newly ratified contract to ensure the continued prosperity of the Seneca Falls facility, while protecting the time-honored tradition of American Made products. We wish to extend our appreciation to the Company for bargaining with integrity and respect for the workers that produce a quality product that is recognized globally.”

    A health care reopener in the second year of the agreement has been included that will allow the company and union to pursue health care improvements and programs as a result of legislative changes. Approximately 400 bargaining unit members are represented by this agreement.

    About ITT
    ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for growing industrial end-markets in energy infrastructure,electronics, aerospace and transportation. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. Founded in 1920, ITT is headquartered in White Plains, N.Y., with employees in more than 15 countries and sales in more than 125 countries. The company generated 2011 revenues of approximately $2 billion. For more information, visit

    ITT Goulds Pumps is a leading manufacturer of pumps for a wide range of industrial markets — including chemical, mining, oil & gas, power generation, pulp and paper, and general industry. As the only manufacturer to make digital monitoring standard on every process pump, ITT Goulds Pumps continues to lead the industry in both mechanical pump design and the adoption of smart technologies. For more information, visit