BUSINESS

Pirelli’s investment plan – EUR 105 M in five years

The Romanian government will support the Slatina-based unit with EUR 35 M. The unit is to become Pirelli’s largest factory in the world.

Pirelli announced its investment plan in Romania for the next five years (2013-2017), worth EUR 105 M, of which EUR 35 M are provided by the Romanian government. The investment is destined to increase the production capacity of tires in the premium SEGMENT, as a part of the Slatina Industrial Pole. The plan was unveiled during a visit paid to Slatina by the prime minister of Romania, Victor Ponta, along with Maurizio Boiocchi, Chief Technical Officer Pirelli Grup and Giuliano Menassi, Director Operations Pirelli Grup, in presence of local official, the Ambassador of Italy to Romania, Mario Cospito, and Giuseppe Cangelosi, Chief Executive Officer, Pirelli Romania. “I want to say that we are at a moment when governments from all over the world, starting with the biggest and most developed, need strong and consecrated names and Pirelli is a global brand and I am proud to see the kind of investments Pirelli made here, in Slatina, becoming reality. The Romanian state is a beneficiary anyway, because this EUR 35 M will return as taxes in the coming years, besides the immediate advantage of creating new jobs here, directly, at Pirelli,” Victor Ponta said during the joint press conference. He thanked the Italian company for securing a future to 3,000 families and added that the achievements made here were beyond the most optimistic expectations, as Romania may be considered as the second country for Pirelli. PM Ponta added that investments like that made in Slatina should be encouraged by all state institutions, both central and local ones.The EUR 105 M will be invested in expanding the premises of the tire factory from 180,000 to 200,000 square metres in 2017, as well as the production capacity. The new investment plan will also create 500 jobs by year 2017. The Slatina-based tire factory will become the largest Pirelli unit in the world, after expanding its production capacity through EUR 105 M investment by 2017, the Chief Technical Officer Pirelli Grup, Maurizio Boiocchi announced Tuesday.

Related posts

Simplifying procedure through which homeowners want to insure their homes, in talks

Nine O' Clock

NEWS IN BRIEF

Test

Gedeon Richter Romania estimates turnover of EUR 144 M

Nine O' Clock

Leave a Comment