Pirelli plans investing $200m to Chinese factory by the end of next year, in order to make China as its largest manufacturing center.
Gregorio Borgo, the president of Pirelli in the Asia-Pacific region, said: “We will build a manufacturing base in Yunzhou, Shandong till 2014, which will be Pirelli’s largest manufacturing base worldwide. We will invest $200m in global largest auto market China from 2012 to 2014.”
Pirelli’s sales turnover was $468.4m in the Asia-Pacific region in 2012, and the result of 2012 have not yet been released. It predicts to grow 23% year on year due to the growing demands for luxury vehicles in Chinese market. Pirelli’s Yunzhou factory was established in 2005. It produced truck tires at first and added the passenger car tire production line 2 years later, which can produced 5 million tires per year.
Borgo pointed out that: “The Asia-Pacific market contributes 7% of our global sales turnover, and we will keep eye on the further development here. Pirelli plans making Yunzhou factory have double capacity by the end of 2014, reaching the production of 10 million tires per year.”
