Brief: ITT Announces €50 Million Investment for Expansion into High-Performance Brake Pad Applications

ITT

22/06/2023 17:02

June 22 (Reuters) - ITT Inc  ITT.N :
    * ITT INC - ANNOUNCES EXPANSION OF ITS FRICTION PRODUCTION
FACILITY IN TERMOLI, ITALY
    * ITT INC - INITIAL EUR 50 MILLION INVESTMENT INCREASES
TERMOLI
PLANT'S COVERED SURFACE BY 75%
    * ITT INC - AS PART OF INVESTMENT, WILL INSTALL SOLAR PANELS
THAT
WILL PROVIDE APPROXIMATELY 20% OF TERMOLI SITE'S ELECTRICITY
NEEDS
    * ITT INC - CONSTRUCTION AT TERMOLI PLANT BEGAN IN JUNE 2023
AND
IS EXPECTED TO BE COMPLETED BY MID-2024