ITT Industries, Inc. has announced that it will open a new brake pad production facility in Searcy, Arkansas. The new plant will produce brake pads for the automotive industry in North America. The products will be marketed under the Koni brand name.
The state-of-the-art 136,000-square-foot facility will help ITT Industries' Friction Materials division to accelerate production of break pads for the automotive industry in the U.S. The plant is expected to be completed and in operation by the third quarter of 2005.
"We are very pleased with the support we have received from the City of Searcy and its Industrial Development Corporation, the Chamber of Commerce, and the Arkansas Department of Economic Development," says Nick Hill, President - ITT Industries' Motion & Flow Control group. "The establishment of this facility demonstrates our confidence in our friction materials business. We see real growth opportunities in North America similar to what we experience in Europe, and it is critical for us to be close our customers to best serve their needs."
ITT Industries will make substantial investments in both machinery and equipment over the next 5 years. The company expects to employ 30 people in Searcy in 2005, eventually employing 80 at the facility.
ITT Industries is a leading manufacturer of brake pads and backing plates serving the leaders in the automotive industry.