PTG investing to increase capacity in Egypt

Prometeon Tyre Group has shared details of the planned investment in its factory in Alexandria, Egypt. The tyre maker announced in 2022 that it would invest approximately 30 million euros to lift production capacity and to upgrade the plant’s technology. Post investment, the facility in Egypt will be capable of making 1.1 million tyres annually, with production of Pirelli Serie 02 tyres increasing.

The 30-million-euro investment follows a 25-million-euro package aimed at sustaining research and development activities in Turkey, Italy and Egypt.

Heading into 2023, Prometeon Tyre Egypt will “focus on providing professional high-quality tyre solutions” to meet local demand. Stefano Ziliani, chief executive officer and managing director of this regional operation, states that the Egyptian market is “one of the key markets for PTG where we’re expanding on all levels.” Ziliani shares that Prometeon Tyre Egypt achieved turnover of EGP 5.2 billion (£157.9 million; US$191.0 million) in 2022 whilst its workforce exceeded 2,000 employees and the operation exported tyres to 65 countries.

“This year, with the significant government efforts to renovate old roads, construction of new road networks, and Egypt’s GDP growth of approximately 3.3 per cent, we are expecting heavy transport market demanding more value-added services and quality products,” Ziliani continues. “As a result, our 2023 goal will focus on meeting the Egyptian market demand by launching innovative tyre solutions in Egypt this year, prioritising efficiency, safety, and product quality.”