New Sri Lankan tire firm to use Marangoni technology

Colombo – A Middle Eastern businessman with multiple holdings in Sri Lanka is venturing into the tire business, investing $75 million (€72 million) in the establishment of a tire factory on the island nation under the auspices of Rigid Tyre Corp. (Pvt.) Ltd.

The new plant, which will use technology licensed from Italy’s Marangoni Group, will have capacity for passenger and medium truck radials as well as OTR and two- and three-wheeler vehicle tires. Annual capacity was not disclosed, but the investor expects employment to be…

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