Vittoria has announced that it intends to spend $20 million to double its production capacity with an investment into a new Thailand facility.
Set to employ around 400 people within an extended purpose built production and office space, the expanded facility is expected to be built and operational by the end of 2022. The expansion takes the existing Lion Tyres Bangpoo industrial district facility, within which a portion of Vittoria’s Far Eastern production sits, from 36,000 square metres to 52,000 square meters.
In an attempt to offset the impact of the much-expanded tyre production, the business has committed to running the plant on solar energy, as well as implementing intelligent climate controls in the building, as well as putting to use bio and recycled materials wherever possible. Vittoria has not yet made public the numbers, but is nonetheless laying claim to the plant becoming the world’s first carbon neutral production.
The building will also host product testing and research facilities for the continuous development of its technologies.
“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,” said Massimo Zanco Vittoria Group Chief Operations Officer.
“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 opened its first Thai factory in Bangkok in 1988 under the name Lion Tyres Thailand (LTT). The current operations are spread over five buildings in Bangkok and Rayong, including the graphene compound research and production facility and the unique 4C extruder, able to merge four compounds in one single bicycle tyre tread.
“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,” added Stijn Vriends, Vittoria Group President & CEO.
Earlier this year Vittoria further expanded its capabilities with the acquisition of tyre specialist A. Dugast.