Matador to increase output through Ethiopia joint venture

SLOVAKIA’S largest tyre-maker, Matador in the Trenèín region of Púchov, announced on June 7 that it was planning to increase its production volume in a joint venture with Addis Tyre Company in Ethiopia.

"It's evident that there are many opportunities to do business and expand our operations in Ethiopia. We want to put a new perspective on this project," Matador President Štefan Rosina told the news agency TASR.

Under the plans unveiled by Rosina, Matador is to raise its Ethiopian market share in 2005 through the Addis Ababa-based company from the current 34 percent to 50 percent. The output would thus go up from 250,000 to 300,000 passenger car and truck tyres.

"We have a goal to turn out a million passenger car tyres by 2008, a large part of which will be exported to the common market for Eastern and Southern Africa,” he said.

Matador aims to become competitive in the mid- and up-market price segments in Africa.

Compiled by Beata Balogova from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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