CHUNGCHEONGBUK-DO < invest Korea

Goulds Water Technolgy, an affiliate of the U.S. ITT Corporation, completed construction last week.

The plant, which sits on a 47,000 m2 industrial complex, will manufacture industrial pumps of KRW 1400 billion annually.

Goulds Water Technology plans to invest USD 100 million over next 20 years to expand its manufacturing facilities.

Chief Executive Officer and President of ITT Denise Ramos, Governor of North Chungcheong Province Lee Si-jong, Lee Jong-yoon, mayor of Cheongwon County attended the completion ceremony.

Governor Lee noted in his congratulatory speech that he expressed appreciation for the Gould Water Technology’s investment in the province and the province will provide active support and cooperation.

Goulds Water Technology signed an investment agreement of USD 100 million with Governor Lee when he visited the company’’s U.S. headquarters last February.

Source: Yonhap News (Oct. 8, 2013)

** This article was translated from the Korean.