Established in 2001, ITP Group took over 100% of the capital stock of FATA Engineering, a subsidiary of the Italian state-owned Finmeccanica holding in 2005, mainly focused on the Russian market. Then, in 2007, ITP acquired Surface Equipment Corporation, a US manufacturer of ASME Code pressure vessels for the Oil and Gas industry, — holding both ASME and Chinese SQL fabrication licenses — and Vignati Fitting a valve manufacturing factory 40 km from Milan.