The Armstrong tire plant financing has been secured

The International Finance Corporation (IFC) and a consortium of banks in Pakistan will provide Armstrong ZE Pvt. Ltd. with financing of up to $50.2 million to increase local tire production.

Armstrong ZE, part of the same group of companies as UAE-based holding company Zafco Group, plans to invest around $92 million in a plant capable of producing 1.4 million Armstrong brand tires per year.