MILAN, Italy (AP) — Italian tire maker Pirelli & C. SpA said Tuesday it began producing high-performance car tires at a new factory in China's Shandong Province.
Pirelli invested nearly US$100 million (euro67.4 million) to build the factory, which will be making tires destined for China and the main markets in the Asia-Pacific area.
The new plant has a manufacturing capacity of about 3 million pieces per year.
''Following the investment in the truck tire factory ... the objective now is to conquer the growing Chinese automobile market, in particular in the mid-high range segments'' that are growing strongly, the company said in a statement.
''Pirelli, whose brand is highly regarded throughout China, intends to play a leading role in this growth process and aims to conquer a double digit market share in the high end of the Chinese market,'' it said.