ITT to in­vest fur­ther $20m as auto mar­ket races ahead

China Daily (Canada) - - BUSINESS -

ITT Corp, the US engineering and man­u­fac­tur­ing com­pany, said on Thurs­day that it will in­vest another $20 mil­lion in its Wuxi brak­ing-tech­nol­ogy pro­duc­tion base and a re­search and de­vel­op­ment center. This fol­lows a $30 mil­lion in­vest­ment in the past two years. Denise Ramos, ITT’s chief ex­ec­u­tive of­fi­cer and pres­i­dent, said China’s auto in­dus­try is de­vel­op­ing rapidly, which has led to in­creas­ing for­eign in­vest­ment.

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