Off the wire
• Canadian stocks up on rebounding crude prices  • Los Angeles Mayor appeals to gun control  • IS suicide attack kills 2 soldiers in Libya  • Portuguese parliament rejects call to stop minors from attending bullfights  • Blooming "corpse flower" in Copenhagen attracts thousands of viewers  • Yemen faces dire humanitarian situation: UN official  • Roundup: "Kill list" found in UCLA campus shooter's residence: police  • Thunderbird crashes after show at Air Force Academy graduation attended by Obama  • Gunman who shot 2 police officers found dead in N. California  • 2nd LD Writethru: U.S. House Speaker says he'll vote for Trump in November  
You are here: 　 Home

Italian tyre manufacturer Pirelli to invest new plant in Mexico

Xinhua, June 3, 2016 Adjust font size:

Italian tyre manufacturer Pirelli announced Thursday an investment of 200 million U.S. dollars to build a new production plant in the central Mexican state of Guanajuato.

In a press release, Pirelli confirmed the new plant will be located at the Puerto Interior industrial park in the town of Silao, alongside the company's existing plant in the park, creating over 2,000 direct and indirect jobs.

Company executives held on Thursday a ceremony in Silao and laid down the first stone of the edifice, which should begin operation in late 2017.

In a speech, Pierluigi Dinelli, CEO for Pirelli NAFTA, said the plant is expected to produce 2.5 million tyres a year, adding to the 3 million being manufactured at the existing plant. This will allow the company to meet both domestic and export demand.

According to Dinelli, the investment of 200 million U.S. dollars will be added to the 400 million U.S. dollars Pirelli has already invested there, bringing the total to 600 million U.S. dollars invested in Silao by 2018.

In the press release, Pirelli confirmed that the tyres made in the new plant will target the Premium and SUV car segments, mainly for the Mexican market and export within NAFTA.

Pirelli was founded in 1872 and has a commercial presence in around 160 countries and regions. It was acquired in 2015 by Chinese company ChemChina. Endite