The Italian Group Pirelli celebrated on Friday ten years of presence in the Romanian industry and due to this occasion the company’s representatives announced new investments for the next years, including the fact that “they are thinking” about constructing a new bicycle tires factory.
Executive Vice Chairman of the Pirelli Group Marco Tronchetti Provera underlined in a press statement in southern Slatina that the plant here “is looking forward” and the investments aren’t just for the next three or four years, but “for the next 50 years.”
The Executive Vice Chairman of the Pirelli Group also announced that they are analyzing the possibility of constructing a new factory for bicycle tires.
According to a press release, the Pirelli Group will invest almost 200 million Euros until 2021 at the Slatina Industrial Pole and the new investment plan will grow its annually production capacity from 10 to 15 million units and will create new jobs.
“The additional investment planned currently and until the end of 2021 will allow a further improvement of the Pirelli industrial competitiveness on an European level. Therefore, the surface of the factory, which benefited from the start of the most advanced technologies in vehicle tires manufacturing on the Premium segment destined mainly to the Eastern Europe markets, will be extended from a currently 210,000 square meters to 260,000 square meters. The development plan implies also a manufacturing area in Slatina, dedicated to motor sports, including a production unit for the Formula 1 championship which will function as a back-up for the main Formula 1 factory in Turkey,” a company’s release on Friday mentions.
Also present at the celebration on Friday in Slatina were Prime Minister Dacian Ciolos, Finances Minister Anca Dragu, Labour Minister Dragos Paslaru. The Pirelli Group was represented by Executive Vice Chairman and CEO Marco Tronchetti Provera and Senior Vice President Manufacturing of Pirelli Tyres Romania Giuliano Menassi, who runs the Group’s Research and Development Department.
The Pirelli Group entered Romania in 2004 when founded the “Pirelli Tyres Romania.” The factory construction is a greenfield project started in 2005, and the first tires were manufactured in 2006.
Ciolos: Pirelli plant in Slatina, example of Romania-Italy good economic co-operation
“The Pirelli plant in southern Slatina is an example of the good co-operation between Romania and Italy in economic field”, on Friday said Prime Minister Dacian Ciolos.
“Italy is not only an opportunity for the Romanians who have chosen to work there, at least temporarily, but there – Italy is investing in Romania, creating jobs for the Romanians, here, at home. So, Italy is not only a very important commercial partner to Romania, but also an economic investment partner,” said Ciolos upon a visit to the southern Slatina-based Pirelli plant.
He specified that the Pirelli investment in Slatina reveals that the economic and investments environment of Romania evolved a lot.
“(…) the economic and investments environment becomes more attractive not only for greenfield investments, but also for developing such investments. The fact that Pirelli is already during its fourth development and investments stage shows that the Romanian economic milieu is enough attractive not only from the cost, the workforce point of view, but also from the viewpoint of its quality, that has improved lately, and also from the legislative and economic predictability’s point of view, since the economic growth perspectives attract more investors to Romania,” stressed Ciolos.
Gov’t prepares a state aid scheme worth 900 million RON for medium investments
The Government prepares the introduction of a state aid scheme with budgetary allocation of approximately 900 million RON, starting 2017 until 2020, that will aim at medium investments, Prime Minister Dacian Ciolos announced on Friday during a visit to the Pirelli factory in Slatina.
“We are preparing a state aid scheme that will be enforced starting with the next year until 2020, with a budgetary allocation of almost 900 million RON, that will aim at the medium investments, between 1 and 5 million Euros and we hope it attracts more and more Romanian companies that can develop. (…) It’s important for the next period not only to attract foreign investments but to root as good as we can the potential development of Romanian economy, in order to create new jobs, bring new technologies and investments in research and innovation, but in parallel to also create opportunities for the domestic capital that will develop and benefit from this economic potential growth of Romania,” Ciolos stated.
He said that the Pirelli factory in Slatina is important because this type of investments also create jobs on horizontal.
The Prime Minister added that the Executive supports this type of investments through state aids.