ITT To Invest Approx. $11 Mln To Enhance Pump Testing Capabilities In Germany, India, Saudi Arabia

(RTTNews) - On Thursday, ITT Inc. (ITT) announced its plan to invest around $11 million to expand pump testing capabilities at its Industrial Process or IP sites in Obernkirchen, Germany; Vadodara, India; and Dammam, Saudi Arabia.

The manufacturing company said that the proposed investment would enrich the power capacity in pump, motor and control systems testing of the IP sites, allowing ITT to carry out pump testing at the local units.

The investments, to be completed in the third quarter of 2024, will also enhance customer experience and capacity for large project awards.

Currently, ITT's stock is trading at $131.15, up 1.14 percent on the New York Stock Exchange.