ROANOKE TIMES
Copyright (c) 1995, Roanoke Times
DATE: Thursday, December 21, 1995 TAG: 9512210084
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE: GREG EDWARDS STAFF WRITER
ITT Electro-Optical Products Division, in a continuing attempt to shift from defense to civilian markets, said Wednesday that it has changed its name to ITT Night Vision.
The company has been a major producer of night-vision products for the military, but in recent years, it has redesigned its products for civilian use by sportsmen, boaters and police. It had been known by its former name since 1973. It employs about 650 at its plant on Plantation Road in Roanoke County.
At one time, the ITT division manufactured optical fiber and cable in addition to night vision products. In 1986, however, ITT sold its telecommunications business, which included its fiber-optic product line. Since then, the division has concentrated on night-vision products.
"ITT Night Vision tells our customer community exactly who we are and what we do in military as well as commercial markets," said Neil Gallagher, the company's president and general manager. "We're in the business of helping people see in the dark."
ITT Night Vision is a unit of ITT Defense & Electronics, based in McLean which in turn is a part of ITT Industries. ITT Industries was created in September when the shareholders of ITT Corp. voted to split the company into three parts:
ITT Industries, a diversified manufacturing company involved in auto parts, defense, and electronics and fluid technology.
ITT Hartford, which includes ITT's insurance business.
And a new ITT Corp., which includes hotel, gaming entertainment and information services.
Also Wednesday, common stock of ITT Industries began trading on the New York Stock Exchange under the ticker symbol IIN. Shareholders of ITT Corp. received one share in each of the three new corporations for each share they previously held in ITT.
LENGTH: Short : 44 linesby CNB