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)
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