Prometeon Tyre Group – Egypt has invested $200 million ( 3.3 billion Egyptian pounds) through its plant in Alexandria since its inception 25 years ago. In addition, the tyre manufacturing company has injected investments of about 100 million Egyptian pounds since the beginning of 2019 to date. The licenced manufacturer of Pirelli branded tyres has controlled 35% of Egypt's truck and bus tyre market. The company exports divided between 60 percent to Europe and 40 percent to other markets such as Turkey, the Middle East and Africa, company's chief technical officer Ahmed Zawawy said. The company's CEO Antonio Dolgetta said that his company will continue investing in Egypt keeping in mind that it is a promising market. Prometeon Tyre Group's plant in the most populous Arab nation spans over 300,000 square metres, including an unused area of about 100,000 square metres, and comprises of five manufacturing phases, producing 150 different kinds of tyres. The company plans to launch a new product in the next month, Zawawy added.
