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ITT > SEC Filings for ITT > Form 8-K on 5-Mar-2014All Recent SEC Filings

Show all filings for ITT CORP

Form 8-K for ITT CORP


Costs Associated with Exit or Disposal Activities

Item 2.05. Costs Associated with Exit or Disposal Activities.

(b)(c) On February 28, 2014, ITT Corporation (the "Company") announced restructuring actions for the Company's Interconnect Solutions segment related to the movement of certain production lines from one location to another existing lower cost manufacturing site. The Company expects to incur non-recurring pre-tax cash costs, principally involuntary severance costs, of approximately $17-$18 million and a non-cash pre-tax charge of $2-$3 million. The Company expects to substantially complete this plan and record these costs over the next 12 months. The restructuring estimates are included within the range of expected restructuring and realignment costs for 2014 discussed on the Company's year-end earnings conference call on February 14, 2014.

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