10 July 2013 00:10 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Pirelli will invest an additional $200m (€156m) between now and 2017 at its tyre production plant in the Mexican city of Silao, Guanajuato state, Mexico’s Ministry of Economy announced on Tuesday.
The Italian company already has invested $200m in the plant since its inauguration in May 2012, the ministry said.
The additional investment will be used for the launch and manufacture of Pirelli’s environmentally friendly Premium Green Performance range of tyres.
The plant currently produces High Performance and Ultra High Performance tyres destined for the domestic, US and Canadian markets. Tyres are a key end product for styrene butadiene rubber (SBR).
According to the ministry, the plant’s production capacity is expected to hit 3.5m tyres/year in 2015 and 5.5m tyres/year in 2017.
($1 = €0.78)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections