Pirelli to expand truck tire plant in Egypt

Milan, Italy –Pirelli Tyre SpA and the Egyptian minister of investment signed a memorandum of understanding on 25 Nov to expand Alexandira Tire Co (Atco).

Atco, owned 90 percent by Pirelli, produces radial truck tires in Alexandria, Egypt.

On the basis of the MoU, it is foreseen that Atco would invest around $107 million (€85 million) in the expansion and further technological upgrade of its factory.

The investment is expected to take place over a 36-month period, as soon as the conditions for the launch of the expansion are met.

When completed, this would result in up to 250 new direct jobs at Atco, as well as additional employment opportunities in related services, and an annual production increase of about 300,000 radial truck tires.

Atco currently employs more than 1,200 people and produces approximately 850,000 truck tires a year.