Pirelli mulls over opening tire plant in Indonesia
Italian tire maker Pirelli said it was in talks with PT Astra Otoparts Tbk (AUTO.JK) to set up a car tire plant inIndonesia, according to a report by Dow Jones Newswire.
The plant would be the second project in which Pirelli would get involved with the parts supplier in that country.
Pirelli has been investing in countries likeMexicoandRussiawhere economies are growing and demand for tires is strong.
As car sales decline to their lowest levels in years in Europe, those inIndonesiaare hitting record highs, leading analysts to forecast it eventually surpassingThailandas the region's top car market.
For 2013, Pirelli expects revenue in the Asia Pacific region to grow in the mid-single-digit range.
(Edited by Olivia, olivia@tireworld.com.cn)
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