ITT Corp. has signed a definitive agreement to acquire Laing GmbH of Germany, a privately held producer of energy-efficient circulator pumps.

Laing is headquartered in Remseck, Germany, with operations in Germany, Hungary, the United States and Japan. The company employs approximately 500 people worldwide, and generated 2008 global revenues of $40 million. Upon completion of the acquisition, Laing will be fully integrated into ITT’s Residential and Commercial Water business.