Exelis Inc.

Last updated
Exelis Inc.
Industry Defense
Predecessor ITT Corporation's defense division
FoundedOctober 2011 (2011-10)
DefunctMay 29, 2015 (2015-05-29)
FateAcquired by Harris Corporation
Successor L3Harris
Headquarters
Tysons Corner, Virginia, U.S.
(McLean mailing address)
,
Key people
David F. Melcher (President and CEO)
Revenue2,230,000,000 United States dollar (2014)  OOjs UI icon edit-ltr-progressive.svg
Number of employees
19,000
Divisions
  • Aerostructures
  • Electronic Systems
  • Geospatial Systems
  • Information Systems
  • Mission Systems
  • Night Vision and Communications Solutions
Website exelisinc.com

Exelis Inc., was a global aerospace, defense, information and services company [1] created in October 2011 as a result of the spinoff of ITT Corporation's defense business into an independent, publicly traded company. [2] The company was headquartered in Tysons Corner, Virginia, USA and was led by CEO and President David F. Melcher. The Washington Post highlighted Exelis as a top company in the Washington, D.C. region in 2011. [3] It was acquired by the Harris Corporation for $4.75 billion in 2015.

Contents

History

For more detailed company history prior to October 31, 2011, see ITT Corporation

Exelis Inc. was originally the Defense division of ITT Corporation, alongside its Industrial Process & Flow Control division and Water & Waste Water division. ITT was founded as the small communications company Puerto Rico Telephone Company by brothers Sosthenes and Hernan Behn. Through a series of business and patent acquisitions, the company grew and was renamed International Telephone and Telegraph in 1920. [4] ITT continued to grow before appointing Harold Geneen as CEO in 1959. Until his retirement from the position in 1977, Geneen was responsible for growing the company from a medium-sized business earning $765 million in 1961 to an international conglomerate making $17 billion in sales in 1970. The company acquired more than 350 companies during Geneen's tenure; at one point the acquisition rate reached one deal per week. Ownership extended over such notable companies as Continental Baking, maker of Wonder Bread and the Twinkie, Sheraton Hotels and Avis Rent-A-Car. [4] For a brief period in the mid-1960s, ITT was in talks to acquire the ABC television and radio networks in the US, but that deal fell through under regulatory scrutiny.

Following Geneen's retirement, ITT went through a restructuring phase under CEO Rand Araskog and was split into three companies in 1995: ITT Corporation (formerly ITT Industries), ITT Sheraton, and The Hartford, an insurance company. [4]

2011 spin-off

On January 12, 2011, the ITT Corporation Board of Directors approved a plan to split the firm. On October 31, 2011, ITT Corporation spun off its defense and water technology businesses to form three separate, publicly traded companies: [4]

From the spin-off to Nov. 1, 2013, Exelis was known as ITT Exelis to help ease the transition of the company's brand. [5] Exelis employed approximately 19,000 people and generated $5.5 billion in sales in 2012. [1]

On February 13, 2013, Exelis announced that it would be closing its West Springfield manufacturing plant and laying off 200 employees after citing expected cuts in U.S. defense spending. [6]

2015 purchase

In February 2015, Exelis announced that plans had been approved for the sale of the company through a cash/stock purchase to competitor Harris Corporation. The purchase price of 4.75 billion dollars was reported as being one of the highest such defense company purchases, since the Lockheed/Martin merger. When finalized in June 2015, the purchase was expected to make Harris/Exelis one of the top 10 defense contractors in the United States. [7] [8]

Company structure

Exelis had six businesses that specialized in different technologies and services.

Aerostructures

Located in Salt Lake City, Utah the Exelis Aerostructures business was a designer and manufacturer of lightweight composite aerospace structures, subassemblies and components.

Major Products:
Exelis Aerostructures was a subcontractor for the Boeing 7-series family of aircraft, including composite air-frame substructures for the 787 Dreamliner, the Airbus A380 aircraft as well as the Sikorsky S-76 helicopter. For defense programs, they provided complete structural assemblies, flight critical components as well as primary and secondary structural elements for platforms such as the Lockheed Martin F-35 Lightning II, the Sikorsky CH-53K King Stallion Heavy Lift Helicopter, the Boeing C-17 Globemaster III and the Lockheed Martin Joint Air-to-Surface Standoff Missile (JASSM). [9] Exelis also produced the Bear Claw line of down-hole drillable plugs used in oil and gas well completions. [10]

Electronic Systems

Headquartered in Clifton, New Jersey, with a major division in Salt Lake City, Utah, the electronics systems division of the company offered a variety of electronic warfare and surveillance technologies, including air traffic control technology for both military and domestic use, radar and sonar systems, antennas and signal-jamming devices to disarm improvised explosive devices (IED).

Major Products:

Geospatial Systems

With facilities located in Clifton, New Jersey and Rochester, New York, the geospatial systems division manufactured and provided GPS technology (Clifton), surveillance systems (Rochester) and data encryption services, as well as remote sensing and navigation technology. The company also included facilities in Ft. Wayne that designed and manufactured instruments for weather tracking systems.

Major Products and Solutions:

Information Systems

The information systems division was headquartered in Herndon, Virginia. The division specialized in creating secure information and electronics systems for specific and often challenging environments, including defense and intelligence missions, the Census Bureau, homeland security, air traffic control and space missions.

Mission Systems

Headquartered in Colorado Springs, Colorado, Mission Systems provided facilities, engineering, logistics and security support for U.S. military bases domestically and abroad.

Night Vision & Communications Solutions

Located in Ft. Wayne, Indiana and Roanoke, Virginia, Exelis Night Vision & Communications Solutions (NVCS) [12] provided products and services for secure voice and data communications, battlefield situational awareness, and night vision systems in the global defense, security, and battlefield management sectors.

Major Products

Exelis Action Corps

Exelis Action Corps was the company's volunteer-service program designed to create large-scale, team and individual volunteer activities and projects to support and engage service members, veterans and their families in local communities. Activities ranged from providing interviewing coaching to a military service member, to painting a house for a disabled veteran, to tutoring the children of a service member serving abroad.

Leadership prior to acquisition

Board of directors

Chairman of the Board
Chief Executive Officer

Management Team

President
Chief Financial Officer
Chief Legal Officer
Chief Human Resources Officer
Strategy and Government Relations
Vice President of Aerostructures
President of Electronic Systems
President of Geospatial Systems
President of Information Systems
President of Mission Systems
Chief Communications Officer
President of Night Vision & Communications Systems
Vice President of Operations
Vice President of Investor Relations [15]

Customers

Azerbaijan-U.S. ICT Forum, December 3, 2013 Az@rbaycan-ABS IKT Forumu (03.12.2013) - 11.jpg
Azerbaijan-U.S. ICT Forum, December 3, 2013

Customers included:

The company also had clients in more than 50 countries in Europe, the Americas, Asia, the Middle East and Africa, as well as Australia. [16]

Related Research Articles

<span class="mw-page-title-main">ITT Inc.</span> American worldwide manufacturing company

ITT Inc., formerly ITT Corporation, is an American worldwide manufacturing company based in Stamford, Connecticut. The company produces specialty components for the aerospace, transportation, energy and industrial markets. ITT's three businesses include Industrial Process, Motion Technologies, and Connect and Control Technologies.

The Lockheed Martin Corporation is an American aerospace, arms, defense, information security, and technology corporation with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in North Bethesda, Maryland, in the Washington, D.C. area. As of January 2022, Lockheed Martin employs approximately 115,000 employees worldwide, including about 60,000 engineers and scientists.

<span class="mw-page-title-main">SINCGARS</span> Combat-net radio

Single Channel Ground and Airborne Radio System (SINCGARS) is a very high frequency combat-net radio (CNR) used by U.S. and allied military forces. In the CNR network, the SINCGARS’ primary role is voice transmission between surface and airborne command and control assets.

<span class="mw-page-title-main">Raytheon</span> Defunct American industrial corporation (1922–2020)

The Raytheon Company was a major U.S. defense contractor and industrial corporation with manufacturing concentrations in weapons and military and commercial electronics. It was previously involved in corporate and special-mission aircraft until early 2007. Raytheon was the world's largest producer of guided missiles. In April 2020, the company merged with United Technologies Corporation to form Raytheon Technologies, which, since July 2023, is known as RTX Corporation.

<span class="mw-page-title-main">L3 Technologies</span> Defunct American defense and electronic equipment manufacturer

L3 Technologies, formerly L-3 Communications Holdings, was an American company that supplied command and control, communications, intelligence, surveillance and reconnaissance (C3ISR) systems and products, avionics, ocean products, training devices and services, instrumentation, aerospace, and navigation products. Its customers included the Department of Defense, Department of Homeland Security, United States Intelligence Community, NASA, aerospace contractors, and commercial telecommunications and wireless customers. In 2019, it merged with Harris Corporation to form L3Harris Technologies.

United Technologies Corporation (UTC) was an American multinational conglomerate headquartered in Farmington, Connecticut. It researched, developed, and manufactured products in numerous areas, including aircraft engines, aerospace systems, HVAC, elevators and escalators, fire and security, building automation, and industrial products, among others. UTC was also a large military contractor, getting about 10% of its revenue from the U.S. government. Gregory J. Hayes was the CEO and chairman.

<span class="mw-page-title-main">Oshkosh Corporation</span> American industrial company

Oshkosh Corporation, formerly Oshkosh Truck, is an American industrial company that designs and builds specialty trucks, military vehicles, truck bodies, airport fire apparatus, and access equipment. The corporation also owns Pierce Manufacturing, a fire apparatus manufacturer in Appleton, Wisconsin, and JLG Industries, a leading manufacturer of lift equipment, including aerial lifts, boom lifts, scissor lifts, telehandlers and low-level access lifts.

Harris Corporation was an American technology company, defense contractor, and information technology services provider that produced wireless equipment, tactical radios, electronic systems, night vision equipment and both terrestrial and spaceborne antennas for use in the government, defense, emergency service, and commercial sectors. They specialized in surveillance solutions, microwave weaponry, and electronic warfare. In 2019, it merged with L3 Technologies to form L3Harris Technologies.

Collins Aerospace is an American technology company that is one of the world's largest suppliers of aerospace and defense products. Headquartered in Charlotte, North Carolina, it is a subsidiary of RTX Corporation.

EDO Corporation was an American company which was acquired by ITT Corporation in 2007. EDO designed and manufactured products for defense, intelligence, and commercial markets, and provided related engineering and professional services. It employed 4,000 people worldwide and had revenues of $715 million in 2006. EDO's assets went to ITT Defense Electronics and Services. As of May 2015, these assets were now part of Harris Corporation, and since June 2019, L3Harris Technologies.

Precision Castparts Corp. is an American industrial goods and metal fabrication company that manufactures investment castings, forged components, and airfoil castings for use in the aerospace, industrial gas turbine, and defense industries. In 2009 it ranked 362nd on the Fortune 500 list, and 11th in the aerospace and defense industry. In 2015 it ranked 322nd overall and 9th in the aerospace and defense industry. In 2014 it ranked 133rd on the S&P 500 based on market capitalization. In January 2016, the company became a wholly owned subsidiary of Berkshire Hathaway. Before that event, it used to be one of the three Fortune 500 companies headquartered in Oregon.

NV5 Geospatial Solutions develops products for the visualization, analysis, and management of geospatial imagery and scientific data. The company develops products such as IDL, ENVI, Jagwire, and Helios which are used in a variety of industries including defense and intelligence, environmental, engineering, aerospace, medical imaging, federal and civil governments, precision agriculture and academia worldwide.

Lockheed Missiles and Space Company (LMSC) was a unit of the Lockheed Corporation "Missiles, Space, and Electronics Systems Group." LMSC was started by Willis Hawkins who served as its president. After Lockheed merged with Martin-Marietta the unit became known as "Lockheed Martin Missiles and Space". Located in Sunnyvale, California adjacent to Moffett Field, it operated a major satellite development and manufacturing plant.

<span class="mw-page-title-main">Xylem Inc.</span> American water technology provider company

Xylem Inc. is a large American water technology provider, in public utility, residential, commercial, agricultural and industrial settings. The company does business in more than 150 countries. Launched in 2011 as the spinoff of the water-related businesses of ITT Corporation, Xylem is headquartered in Washington, DC, with 2018 revenues of $5.2 billion and 17,000 employees worldwide.

<span class="mw-page-title-main">Kenneth W. Hunzeker</span> United States Army general

Kenneth W. Hunzeker is a retired officer in the United States Army who attained the rank of lieutenant general. He was commissioned from the United States Military Academy (USMA), West Point, New York, in 1975. He retired from active service in 2010, after 35 years.

<span class="mw-page-title-main">David Melcher</span> United States Army general

David Frederic Melcher is an American businessman and retired U.S. Army Lieutenant General. He is known for his 32 years of U.S. Army Service, and as a prominent figure in the aerospace and defense community as the President and CEO of Fortune 500 Company Exelis from 2011–2015, and as the former President and CEO of Aerospace Industries Association from 2015–2017.

L3Harris Technologies, Inc. is an American technology company, defense contractor, and information technology services provider that produces command and control systems and products, wireless equipment, tactical radios, avionics and electronic systems, night vision equipment, and both terrestrial and spaceborne antennas for use in the government, defense, and commercial sectors.

<span class="mw-page-title-main">RTX Corporation</span> American multinational aerospace and defense conglomerate

RTX Corporation, formerly Raytheon Technologies Corporation, is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia. It is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization, as well as one of the largest providers of intelligence services. RTX manufactures aircraft engines, avionics, aerostructures, cybersecurity solutions, guided missiles, air defense systems, satellites, and drones. The company is also a large military contractor, getting a significant portion of its revenue from the U.S. government.

ITT-Gilfillan was an American electronics company located in Los Angeles, best known for their radar systems. They changed names several times, and might be referred to as ITT Corporation Electronic Systems Radar Systems - Gilfillan or ITT Industries, Gilfillan Division, depending on the source. They were spun off by ITT in 2011 to form a division of the newly created Exelis Inc. Exelis was in turn purchased in 2015 by Harris Corporation and then merged in 2019 to become part of L3Harris Technologies.

References

  1. 1 2 "Exelis board approves $0.1033 per share dividend for the fourth quarter of 2013". Exelisinc.com. 2013-10-09. Retrieved 2015-10-12.
  2. Hubler, David (2011-10-14). "ITT unveils ITT Exelis in latest corporate spinoff". Washington Technology. Retrieved 2015-10-12.
  3. "ITT Exelis - The Washington Post". Apps.washingtonpost.com. Archived from the original on 2014-01-04. Retrieved 2015-10-12.
  4. 1 2 3 4 "Exelis - History of Exelis". Exelisinc.com. Retrieved 2015-10-12.
  5. "Exelis reports second-quarter 2013 financial results; reaffirms full-year guidance". Exelisinc.com. 2013-01-08. Retrieved 2015-10-12.
  6. Johnson, Patrick (2013-02-14). "ITT Exelis to close West Springfield manufacturing plant, lay off 200; cites expected cuts in U.S. defense spending". masslive. Retrieved 2022-12-07.
  7. "Harris Corporation to Buy Defense Contractor Exelis for $4.7 Billion". The New York Times . 6 February 2015. Retrieved 2015-10-12.
  8. "Second Course Of Last Supper? Harris To Buy Exelis « Breaking Defense - Defense industry news, analysis and commentary". Breakingdefense.com. 2015-02-06. Retrieved 2015-10-12.
  9. "Exelis - Aerostructures". Exelisinc.com. Retrieved 2015-10-12.
  10. "Exelis - Bear Claw Down-hole Tools". Exelisinc.com. Retrieved 2015-10-12.
  11. Tomkins, Richard (21 August 2015). "Navy orders more RF-jammers for its F/A-18s". United Press International . upi.com. Retrieved: 28 August 2015.
  12. "Exelis - Night Vision and Communications Solutions". Exelisinc.com. Retrieved 2015-10-12.
  13. Erwin, Sandra I. (February 2007). "Delays in 'joint tactical radio' program cast doubts on future". nationaldefensemagazine. Archived from the original on 2016-01-03. Retrieved 2015-10-12.
  14. "Single Channel Ground and Airborne Radio System". Exelis Inc. Archived from the original on 2015-10-09. Retrieved 2015-10-12.
  15. Herr, Katy. (14 October 2011). Investor Day [Powerpoint slides]. http://media.corporate-ir.net/media_files/irol/24/248208/Investor%20Day.pdf
  16. "Our Customers Are Central to Everything We Do". Archived from the original on August 6, 2012. Retrieved August 7, 2012.