Pirelli to Invest 300 Million Euros in China as Car Sales Surge
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Pirelli & C SpA, Europe’s third-largest tiremaker, will invest about 300 million euros ($415 million) in China over the next three years to tap rising demand in the world’s biggest vehicle market.
The company will double capacity at its factory in Jining, Shandong province, to 10 million tires a year within the next two years, Chairman Marco Tronchetti Provera said in an interview with Bloomberg TV in the Chinese city yesterday.