ITT Exelis (NYSE: XLS) has announced a realignment of its business divisions to capitalize on operating efficiencies and increase focus on its strategic growth platforms. The reorganization, which is effective January 2, 2013, will include:
- Night Vision and Tactical Communications Systems will be composed from the combination of the night vision and communications businesses that were previously part of other divisions.
- The composite aerostructures business, a strategic growth area, will be separated from its current division and operate as a standalone business area in order to build synergies and customer focus.
“Overall, this realignment will allow our businesses to become more focused on their core areas of expertise, which will enable them to better develop and invest in new technologies, win new business and provide maximum customer value,” said Exelis CEO and President David F. Melcher.
Upon implementation of these changes, the company will continue to report quarterly and annual financial results in two segments:
- C4ISR Electronics & Systems, which includes the Electronic Systems, Geospatial Systems, Night Vision and Tactical Communications Systems divisions, as well as the Aerostructures business area
- Information & Technical Services, which includes the Information Systems and Mission Systems divisions
About ITT ExelisExelis is a diversified, top-tier global aerospace, defense and information solutions company with strong positions in enduring and emerging global markets. Exelis is a leader in networked communications, sensing and surveillance, electronic warfare, navigation, air traffic solutions and information systems with growing positions in cyber security, composite aerostructures, logistics and technical services. The company has a 50-year legacy of innovation and technology expertise, partnering with customers worldwide to deliver affordable, mission-critical products and services for managing global threats, conflicts and complexities. Headquartered in McLean, Va., the company employs about 20,500 people and generated 2011 sales of $5.8 billion. www.exelisinc.com