Prometeon Tyre Egypt, a global industrial tyre manufacturer in Egypt, announced that it will focus on providing professional tyre solutions to meet the demand of the Egyptian market. Prometeon Tyre Egypt (PTE) also stated that it will be investing around 30 million euros for technological upgrading of the factory locally.
A 25 million Euro package that is already partly invested sustains the research and development (R&D) activities in the R&D facilities in Turkey, Italy, and Egypt.
“The Egyptian market is one of the key markets for PTG where we’re expanding on all levels achieving EGP 5.2 bln, reaching over 2,000 Employees and exporting to 65 countries. This year, with the significant government efforts to renovate old roads, the construction of new road networks, and Egypt’s GDP growth of approximately 3.3%, we are expecting a heavy transport market demanding more value-added services and quality products. As a result, our 2023 goal will focus on meeting the Egyptian market demand by launching innovative tyre solutions in Egypt this year, prioritizing efficiency, safety, and product quality,” Stefano Ziliani, CEO and Managing Director at Prometeon Tyre Egypt, commenting on 2023 Egypt’s vision said.
The company also announced that their Alexandria Plant produces 1.1 million tyres per year while enhancing the quality procedures upgrades.
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