Pirelli of Milan, Italy has announced its plans to construct its first tire production plant in Mexico. The new factory, -located in the city of Silao (about 400 kilometers from Mexico City) – will produce high-performance and ultra high-performance tires for cars and light trucks utilizing Pirelli’s state-of-the-art manufacturing technology. Pirelli will initially invest approximately $210 million in the plant, which will generate 700 direct and 300 indirect jobs in the local Silao area. The facility will cover an area of 120,000 square meters and will be operational in 2012. Targeted daily production capacity is 10,500 tires with an annual capacity of 3.5 million units in 2014 increasing to approximately 5 million units by 2015.