Pirelli Invests $65 million in Egypt Tyre Plant
The Pirelli Group is to increase truck and bus tyre production capacity in Egypt by 50 per cent through the investment of $65 million dollars in its Alexandria TBR plant. The announcement was made by the Chairman of Pirelli & C. SpA, Marco Tronchetti Provera, to Egyptian Trade and Industry Minister, Mohamed Rashid, on the occasion of the Italian-Egyptian inter-governmental meeting taking place in Rome. The new investment will allow the factory in Alexandria to increase its annual production to 1 million pieces and become the largest site for manufacturing radial tyres for industrial vehicles in the MEA (Middle East and Africa) area.
According to an official statement on the matter, the growth of production capacity will be focused on “the most advanced product and process technologies able to express maximum performance both in terms of the needs of emerging markets and with respect to the requirements of the main customers in Continental Europe.”