I believe Ithica is under new management and production has moved to Ohio. Based on the quality and price, it appears that they are targeting the high quality pump market, along with Browning.
I handled a new Ithica 37 at Cabelas and it was beautiful. The rib was dovetailed to the barrel, the bolt was jeweled, and the fit & finish seemed to be miles ahead of other pumps like the 870. If I were in the market for a pump, I would be tempted to spend the extra money for the Ithica and keep it forever.