However, Marangoni commented on its site that contrary to what was reported in Sri Lankan media, the investment in Sri Lanka only involves ‘Marangoni indirectly’.
It has been widely reported that the Sri Lankan government has approved the proposal to allocate about 100 acres of land for the proposed 3 million tyre plant in Gonapola, Horana in the Western province of the island nation.
The news in fact does not refer to the industrial tyre segment, but rather to a hypothetical transfer of technology to a Sri Lanka-based investor – Ceylon Steel Corporation – discussed as part of a possible joint venture in the passenger car tyre sector as per the Marangoni site.
Following the suspension of its passenger car tyre production in Europe back in 2014, Marangoni has begun negotiations to sell its production plants to the Ceylon Steel Corporation.
Marangoni has been operating its own industrial tyre manufacturing facilities in Sri Lanka since 2008. At the plant Marangoni also manufactures top-of-the-range industrial tyre Eltor Evo solid forklift tyres.