MADISON, Tenn. (July 28, 2010)—Marangoni Tread North America Inc. is investing $3.3 million through early next year to add production capacity in Madison for the firm's Unitread traditional precured tread rubber.
The project, already under way and part of a larger four- or five-year expansion program, will create jobs throughout the course of the project, according to Bill Sweatman, president and CEO. The investment will be primarily for new presses, he said.
The new capacity will be about 1,000 treads per day, according to Marangoni S.p.A., the Rovereto, Italy-based parent company. Marangoni North America imports this product currently from other production sites.
The expansion reflects growth in demand for Marangoni's products, Sweatman said, including demand related to Marangoni's deal to provide Continental Tire the Americas' commercial dealer network with Conti-branded tread rubber.
The project will make the Madison plant Marangoni S.p.A.'s sixth production site for Unitread products worldwide.
Other Unitread production sites are: Ferentino, Italy; Hamburg, Germany; Belo Horizonte, Brazil; Rosario, Argentina; and in China at an unidentified off-take partner's site.
Marangoni opened the Madison Ringtread tread rubber plant in 2004.