Prometeon Tyre Group, the licensed manufacturer of Pirelli-branded truck, bus, agro and OTR tyres, says it will invest $US115 million ($AUD158 million) in Turkey to increase its production capacity and implement advanced technology in its factory located in İzmit.
The company says the plant’s annual tyre production capacity will increase by 75% by 2020 and export to foreign markets will almost double from current levels.
Prometeon is one of the main suppliers to companies engaged in the production of heavy commercial vehicles in Turkey with one out of every five heavy commercial vehicles made in Turkey running on Pirelli-branded commercial tyres produced at the İzmit plant.
The Prometeon R&D Centre located in the Izmit plant has operated for more than 10 years and is, the company says, an important driver of its highest-technology tyres, with nearly 7,000 prototype tyres tested each year for the Turkish market and related countries.
The Prometeon Tyre Group was, until March 2017, part of the Pirelli Group. Since that date, Prometeon and Pirelli have been separate companies.