Tigar Tyres opens new Pirot- based section

(Gary M. Scheide, GM at Pirot-based plant)

The President of Serbia, Tomislav Nikolic has opened today new section of Tigar Tyres, the ownership of French Michelin.

The new section of Tigar Tyres, Big Tigar is only a part of the investment. The project should end in 2016, and the investment will reach EUR 215 m.

New section employed 500 people. After project completion, in 2016 Tigar willhave 2.700 people.

The annual production output is 8 million tyres and they are planning to reach 12 million tyres until 2016.

Production will be based solely on budget tyres which will be sold under the brand names "tygar", "cormoran"and “riken”.

Tigar will export to Russia, EU, Africa and Middle East.