Pirelli will invest 300million euros to increase C

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Pirelli will invest 300million euros to increase China's tire production capacity

Sinochem news Pirelli recently announced that it will invest 300million euros in the next two years to double the production capacity of Shandong Jining tire factory to an annual output of 10million tires. Due to the global economic recession in 2009, the company postponed the investment plan for Jining factory

in 2010, the sales volume of passenger cars in China was 13.76 million, an increase of 33.2%. Due to the increasing demand for high-end vehicles in China, the expectation of tire sales growth in Asia in 2011 has been raised from 15% to 20%. At present, Pirelli's sales in China account for about 7% of its total sales, which is expected to increase to 10% within two years. The company stressed that its focus in China is on the high-end car market, not the mass market

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