Natural rubber prices have not slowed down the pace of expansion of tire companies in China. The reporter learned on May 4, 2011 from Pirelli , the world's fifth-largest tire manufacturer, that the company will continue to increase its investment in China. In the next three years, the production capacity of Pirelli's China plant will be increased by one at present. Fan.
By that time, the Yuzhou plant in Shandong, which will be put into production in 2005, will bring Pirelli China's global production share to 10%. "As the consumer demand for luxury cars and high-end tires continues to grow, we expect this year's performance in Asia will grow by 20%," said Bai Bei, CEO of Pirelli Asia Pacific.
As of the end of 2010, Asia Pacific operations accounted for 6% of Pirelli's global business, and China's sales contribution in the Asia Pacific region reached 53%.
Pirelli expects to achieve an average annual growth rate of 8% between 2011 and 2013, and to increase its EBIT margin to 10.5% to 11.5% by 2013. By 2015, 57% of sales are expected to come from fast-growing economies such as China.
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