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TIRE MAKERS * NEWS
* Argentine - Pirelli To Build $300 Million Truck Tire Plant In
Buenos Aires City,DF,ARG -Dow Jones Newswires, by Shane Romig -October 13, 2011: -- Italian tire maker Pirelli & C. SpA plans to invest $300 million in Argentina by 2014 to build a new truck tire factory, and is considering investing a further $200 million beyond that to expand capacity... The expansion comes on top of the $100 million investment announced last year to up SUV and light truck tire production to five million per year at the company's existing plant in Argentina... Construction of the new truck tire plant will start in early 2012, adding 700,000 tires per year to global capacity from the companies six current plants in Turkey, Italy, Egypt, China and the two in Brazil, Pirelli said in a statement... The Argentine government will finance the project at preferential rates and has guaranteed energy supply, the company said. If Pirelli moves forward with the second phase of the development, capacity would be doubled to 1.4 million truck tires per year, 13% of the company's global truck tire output...
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