MILAN, Italy — Pirelli & C. S.p.A. has disclosed plans to boost capacity at its tire manufacturing complex in Silao, Mexico, by 9% to over 7.2 million units annually.
Pirelli is budgeting $36 million for the project, which it said is in line with its Industrial Plan released in 2020.
The company disclosed the plans during a visit to Pirelli headquarters in Milan by Diego Sinhue Rodríguez Vallejo, governor of the Mexican state of Guanajuato, where the company's tire plant is located.
Marco Tronchetti Provera, executive vice chairman and CEO of Pirelli, called Mexico a "strategic area for Pirelli for all its activities in North and Central America. The visit of Governor Rodrìguez Vallejo is a testament to the close ties between the company and the state of Guanajuato, one of Mexico's most economically advanced areas, where we intend to continue to invest for further growth."