What's Happening?
ITT Inc. has completed the second phase of a $25 million expansion of its Industrial Process manufacturing facility in Dammam, Saudi Arabia. This expansion doubles ITT's capacity, enhancing its position
as a preferred supplier to Middle East customers. The site has a strong track record, including a 96% on-time delivery rate since 2019, and secured $160 million in orders in 2024. ITT's CEO Luca Savi emphasized the strategic investment in the region, aiming for more than $300 million in annual orders by 2030. The expansion increases the site's total land area to accommodate future growth.
Why It's Important?
The expansion in Saudi Arabia is a strategic move for ITT, tapping into one of the fastest-growing markets for its flow business. The increased capacity strengthens ITT's ability to meet rising demand in the Middle East, supporting large-scale projects and enhancing customer satisfaction. The investment reflects ITT's commitment to regional growth and its focus on delivering high-quality engineering and manufacturing solutions. This development positions ITT for continued growth and increased market share in the Middle East.
What's Next?
ITT plans to begin a third phase of expansion in 2027, further increasing manufacturing capacity. The company aims to secure more than $300 million in annual orders by 2030, leveraging its expanded capabilities to meet growing demand. ITT's strategic focus on the Middle East market will continue to drive growth, supported by its strong performance and customer relationships.
