ITT Opens Friction Technology Research and Development Center
September 29 2008 - 11:51AM
Business Wire
ITT Corporation, a global diversified high technology engineering
and manufacturing company, today announced the opening of a new
research & development (R&D) center at its Friction
Technologies production facility in northern Italy. ITT�s Friction
Technologies business makes brake pads and friction materials for
the world�s largest manufacturers of cars, trucks and light
commercial vehicles, producing more than 100 million disc brake
pads and back plates per year. The 2,800-square meter laboratory
and testing facility represents an investment of �7 million
(approximately US$10 million). �First and foremost, our new R&D
center has been designed and built to serve the needs of our
customers, and it is a symbol of our commitment to their continued
growth and success,� said Salvatore Torrisi, president of ITT�s
Friction Technologies business. �Further, this state of the art
facility will enable ITT to attract the best talents in engineering
and manufacturing.� In addition to its primary production facility
in Barge, Italy, ITT Friction Technologies operates three other
manufacturing facilities in Europe, and expects to begin production
at another in the Czech Republic in the fourth quarter 2008. About
ITT Corporation ITT Corporation (www.itt.com) is a diversified
high-technology engineering and manufacturing company dedicated to
creating more livable environments, enabling communications and
providing protection and safety. The company plays an important
role in vital markets including water and fluids management, global
defense and security, and motion and flow control. Headquartered in
White Plains, N.Y., the company ITT employs approximately 40,000
people and generated $9 billion in 2007 sales.
ITT (NYSE:ITT)
Historical Stock Chart
From Jun 2024 to Jul 2024
ITT (NYSE:ITT)
Historical Stock Chart
From Jul 2023 to Jul 2024