ITT acquired Florida-based Matrix Composites for $29m.

ITT, a diversified leading manufacturer of highly engineered critical component, acquired Matrix Composites, a specialty aerospace component manufacturer located on the Florida Space Coast, for $29m. “We are excited to welcome this fast-growing composites technology company to ITT Connect and Control Technologies,” said ITT Connect and Control Technologies President Farrokh Batliwala. “Matrix Composites significantly enhances our composite portfolio and expands our aircraft engine content. We look forward to leveraging our combined strengths to build on Matrix Composites’ entrepreneurial spirit and growth-oriented track record.”