Manufacturing of truck and bus tires is now well underway at the SRI factory in Brazil, where a suite of new production equipment at a cost of US$121m has been installed.
The dual aim of this is to ensure a more stable supply of tires to the Brazilian market while also minimizing FOREX risks. Tires for this country were previously imported. Demand for truck and bus tires in particular is expected to grow by 2-3% per year for the foreseeable future.
SRI plans to augment its production capacity to be able to manufacture 1,000 tires for trucks and buses by the end of 2020.
The tire maker will continue working to further strengthen its business (including sales of tires for passenger cars and light trucks) in Brazil as part of its overall efforts to grow and develop globally.