Vittoria Group is to construct a new state-of-the-art factory in Thailand.
The $20 million investment will see the Lion Tyres Thailand (LTT) factory premises grow from 36,000 to 52,000 square metres in the Bangpoo industrial district, near the current LTT headquarters.
The plant will employ circa 400 people in working spaces designed to provide a friendly and enjoyable working environment. Operations will start within the end of 2022 and the new facilities will allow Vittoria Group to double the total output capacity of tyres over the coming years.
The greenfield plant is designed with sustainability in mind, said the group. The use of solar panels, intelligent climate control, bio and recycled materials and electrical curing will make it the ‘first carbon-neutral factory in the bicycle tyre industry’.
The new facility will be dedicated to the production of premium bicycle tyres, used by professional and amateur cyclists around the world. The building will also host product testing and research facilities for the continuous development of technologies to make the ‘most advanced bicycle tyres on the planet’.
On 23rd September 2021, the land for the new facility was inaugurated in the presence of senior managers of LTT, local authorities, representatives of Thai and Italian industry and the Italian Ambassador Lorenzo Galanti.
Vittoria Group chief operations officer Massimo Zanco said: “The new Lion Tyres Thailand greenfield factory is a much-needed investment to match the bicycle industry demand for speed of supply and high-quality products.”
Vittoria Group president and CEO Stijn Vriends added: “We are very pleased to further invest in Thailand, the world’s premium place for development and production of high-quality bicycle tyres. The new factory is an important milestone in our journey towards sustainable and carbon-neutral manufacturing.”