ITALIAN tire maker Pirelli expects sales in Asia-Pacific to increase 23 percent annually by 2014 as it increases capacity in China and Indonesia to meet demand, its new regional chief said.

Its annual sales in Asia-Pacific may stretch above 650 million euros (US$853 million) by 2014, from 353 million euros last year, Gregorio Borgo, chief executive for Asia Pacific, said yesterday in Shanghai. Last year's regional sales accounted for 6 percent of its global total.

Pirelli, which supplies tires to BMW, Audi and Mercedes-Benz manufacturers in China, is banking on the region's growing demand for high-end cars. The high-end auto market in Asia Pacific may rise 19.1 percent annually from 2011 to 2015, against an increase of 4.7 percent globally, the firm said.
 

Source:shanghaidaily.com