Prometeon Tyre Group, which is a licensed manufacturer of Pirelli-branded truck, bus, agro and OTR tires, will have invested almost 580m TL (US$115m) between 2017 and 2020 in increasing its production capacity at its İzmit factory in Turkey and installing advanced manufacturing technology there.
In line with the increase in output, Prometeon plans to employee 150 more people at the facility and 750 indirectly. This will add to the current headcount of 2,000 at the plant and 10,000 indirect workers.
Furthermore, annual tire production capacity at the Turkey plant will increase by 75% by 2020, and export to foreign markets will almost double from current levels, making an important contribution to trade in the country.
“This new investment will increase production capacity in line with future growth in Europe and MEA,” said Gregorio Borgo, COO of Prometeon Tyre Group. “Prometeon Turkey is an important production, management and talent center within the group. Almost one third of Prometeon Tyre Group’s annual turnover is made in the region and more than 50% of the tires that we manufacture in Turkey are exported.”
Having emphasized the value of the investment, the creation of new foreign direct investment in Turkey and the fact that the project will be a stimulus to the country’s exports, Alp Günvaran CEO of the Turkey, MEA, Russia, CIS regions at Prometeon Turkey, commented, “The İzmit factory has been breaking new ground since it was established in 1960. It continues to be an engineering force, and makes a significant contribution to exports from Turkey with its current annual capacity of almost one million units.
“We will further strengthen the position of Turkey as one of the largest suppliers in Europe of industrial tires. The factory is one of four Prometeon production facilities worldwide and continues to add value to the tire industry on a global scale as it is the first plant in Turkey to have received an R&D certificate from the Turkish Government.”
Until March 2017 Prometeon Tyre Group was part of the Pirelli Group. It has since become a separate company.
