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ITT Corporation (NYSE:ITT) today announced it is investing million to enhance braking technology production and create an R&D center in China, as part of its future commitment to the region. The investment in the company’s Motion Technologies business will include production, testing, R&D and training among the largest overseas investments in the history of the business. ITT Chief Executive Officer and President Denise Ramos said, “ITT has a strong global footprint and is well-positioned for growth in the China market. We are committed to upgrading our local innovation capacity, and we see China not only as a manufacturing base but also as a hub for talent development, as evidenced by our establishment of the R&D center.” ITT is currently below its 200-day moving average (MA) of .86 and should find support at its 50-day MA of .81.
