Port Said, Egypt — Egyptian officials have commissioned production at Pyramids Tires, a locally owned company that expects to hire up to 5,000 workers over the coming years.
The 807,000-sq.-ft. factory in Port Said — the first new factory built in Egypt in 25 years — opened earlier this year with capacity for light truck, motorcycle, agricultural and industrial tires. A ceremonial opening was held in mid-May.
The principals have released few details about the factory or its backers, although one local news report identified Japan's Sumitomo Corp. as being involved. Sumitomo Rubber Industries Ltd. is not involved, however.
A video posted on the new company's Facebook page shows a one-story factory laid out in a traditional tire plant workflow, with on-site rubber mixing, steel cord preparation, laboratory and tire-testing facilities, etc.
The new company is promoting itself as "Made by us. For us" to emphasize the local nature of the enterprise.
Another Facebook posting indicates the company has begun exporting tires to other African nations, such as Algeria, Morocco and Tunisia, as well as Iraq. The posting expresses the company's desire to export to Europe and the US, as well.
Another posting indicates the company intends to add capacities in a second construction phase for passenger, truck/bus and OTR tires.
Port Said is a city of about 600,000 in northeast Egypt on the Mediterranean Sea coast at the entrance to the Suez Canal.
The new company is the third tire factory in Egypt. The others are Alexandria Tyre Co. in Alexandria, a truck/bus tire plant owned and operated by Prometeon S.r.l., and TRENCO (Transport & Engineering Co.) in Alexandria's Smouha district. It produces passenger and truck/bus tires under the Nisr brand.