ITT to Invests €50 Million for Expansion into High-Performance Brake Pad Applications in Italy

Specifications:

Name:

ITT to Invests €50 Million for Expansion into High-Performance Brake Pad Applications in Italy

Location:

Italy

Company:

ITT Inc.

Estimated Cost:

€50 Million

Source:

https://www.itt.com/

Introduction:

These investment will be establish a leading position in the high-performance brake pads market for luxury and sporting vehicles.

Features:

The initial €50 million investment increases the Termoli plant's covered surface by 75% and includes fast prototyping, expanded testing machinery and an automated production module designed to handle the demanding specifications of high-performance brake pads. Moreover, as part of the investment, ITT will install solar panels that will provide approximately 20% of the Termoli site's electricity needs, reinforcing the company's commitment to reducing its carbon footprint.

High-performance brake pads will present a total addressable market of nearly 11 million brake pads annually by 2026. Original equipment customers in the segment have a strong focus on service and require highly engineered brake pads that perform flawlessly in extreme conditions. The new product line is positioned to capitalize on Friction's long-standing relationships with premium auto original equipment manufacturers and its leading position in material science.

Construction at the Termoli plant began in June 2023 and is expected to be completed by mid-2024, with production on new brake pad lines beginning in the fourth quarter of 2024. The total investment can grow to ~€70 million based on additional brake pad platform awards.