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Prometeon Tyre releases 01 Series to reduce fuel consumption up to 6% - Daily News Egypt

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Prometeon Tyre releases 01 Series to reduce fuel consumption up to 6%

Economic reform measures have attracted foreign capital

Prometeon Tyre unveils its latest products under the name 01 Series, contributing to reducing fuel consumption by up to 6%, targeting trucks operating on high roads, construction sites, remote areas, and long-range transport, says the company’s Managing Director Antonio Dolgetta.

In an interview with Daily News Egypt, Dolgetta explained that the new product was released here as the Egyptian market is of paramount importance to the company.

He stressed that 01 Series tires are produced with a special focus on the increasing demands of customers for better performance and maximum benefit to their business, with less stress resistance to ensure the highest performance, in addition to improving car handling on the road in various conditions.

This category ensures advanced technological advantages, greater durability, patented composite technology, shorter braking distance, less rotation resistance, and structural transparency

The new tire has been manufactured to suit the Middle East market, and the 01 Series offers a 20% increase in practical capacity and tire retread. These upgraded tires are manufactured to live longer, withstand weights and pressure, with much greater resistance against tear and breakdown.

Dolgetta stated that his company accounts for 30% of the market share of transport tires due to the company’s continuous developments in the tire industry.

He added that the company produces about one million tires annually and is the largest in the Egyptian market, where the production of the company has tripled since 1999, pointing out that Prometon has a continuous plan to increase productivity and investments by up to 4% in the next two years.

According to Dolgetta, the company exports about 60% of its production to the European market, and ruled out the possibility of the company’s sales being affected by recent developments in Brexit. He stressed that Britain is a big market and the company’s products are available there, adding that there are no agreements that may prevent the arrival of the product to Britain.

On the expansion plan of the company, he said that his company is working at maximum capacity to improve the efficiency of Alexandria plant in order to increase exports and give more interested parties the opportunity to reach the best quality of products while ensuring safety and best performance.

He pointed out that the company’s products do not qualify them to enter the project of replacement of minibuses and minivans because their tires have specific sizes and the company is qualified to produce truck tires.

In a related context, Dolgetta stressed that in the case of the Egyptian government intending to use the company to contribute to the localization of the automotive industry, his company will spare no effort to support that leading industry.

On the other hand, he pointed out that the company provides awareness campaigns to consumers, aiming to increase consumer awareness about the difference between the products of the company, especially that the tires come in different forms and are designed according to different purposes.

He pointed out that the process of manufacturing tires goes through several stages and the local component is a large proportion, as there is main dependence on Egyptian rubber, while the rest of the components are imported from various international markets, especially the Asian Market.

Dolgetta pointed out that Prometeon’s Factory in Egypt was built on an area of 300,000 sqm, of which about 100,000 sqm is still unused, and includes five manufacturing stages to produce 150 types of tires.

The company has also been increasing its investments in Egypt to reach $200m, equivalent to EGP 3.3bn, since the establishment of the plant 25 years ago. The company has pumped more than EGP 100m since the beginning of this year.

The managing director predicted that the demand for truck tires and buses will increase between 3% and 4% in Egypt over the next two years due to increased construction and major projects being implemented by the government now.

Dolgetta stressed that the economic reform program initiated by the Egyptian government in recent years, has contributed to reassuring investors significantly, which also helped to pump more investments to the Egyptian market, and attract foreign capital to the local market.

He praised the Central Bank of Egypt (CBE)’s last interest rate cut, describing the decision as right because it would encourage investors to direct their savings to projects and increase productivity, which is what the Egyptian market needs. The new plant will provide more job opportunities and reduce unemployment. Therefore, it is working at maximum capacity to improve the efficiency of Alexandria’s plant to increase its exports and give more interested parties the opportunity to reach the best quality of products while ensuring safety and best performance.

Prometeon has four factories in the world, two in Brazil, one in Turkey, and another in Egypt. The Egyptian factory enjoys great attention from the parent company as a result of Egypt’s strategic location that allows it to penetrate different export markets.

Car tires are one of the most important safety valves in all categories of vehicles, whether commercial or passenger cars. The commercial vehicle tire industry is witnessing remarkable developments, especially that these types of cars are of the utmost importance in the transport of goods and traffic on all kinds of roads, whether rugged or paved, which makes them time bombs that need to be very carefully chosen to fit all kinds of road.

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