ITT Inc has signed a three-year agreement for the supply of highly engineered API-610 centrifugal pump systems and related products and engineered services to energy and petrochemical company ExxonMobil. The agreement contains a US$50 million minimum contract commitment, with a total potential value of US$80 million in revenue over the term. This is the largest single contract ever awarded to Goulds Pumps, ITT’s industrial pump and valve manufacturer.
Goulds Pumps, part of ITT’s Industrial Process (IP) segment, will provide heavy duty engineered centrifugal pump systems and aftermarket parts and services to ExxonMobil to support its existing operations, primarily in North America. Under the agreement, ExxonMobil can leverage proprietary ITT technology to enhance the user experience while lowering the total cost of ownership through shortened project cycle times. Goulds Pumps will also provide enterprise-wide support and a dedicated global project management team to oversee execution of the agreement.