11/13/2018

Pirelli’s Licensed Manufacturer Prometeon Invests in Turkey

Italian-based tire producer Pirelli’s licensed manufacturer Prometeon will be investing USD 115 million in its factory in northwestern Turkey.

 

Speaking at the launching meeting, Prometeon’s Chief Operations Officer Gregorio Borgo said that Pirelli has invested USD 500 million in Turkey so far and will contribute an additional USD 115 million during 2018-2020 period. He added that the company's investments will boost production at the factory through the use of high technology.

 

In the wake of the meeting, COO Borgo was received by Minister of Industry and Technology Mustafa Varank, where the minister stated that the company will double its exports from Turkey to 75 countries, rising to USD 250 million from USD 125 million.

 

Operating for more than 60 years in Turkey under the Pirelli brand, Prometeon is also the owner of the first tire factory in Turkey.

pirelli; prometeon; investment; turkey; fdi

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