Pirelli will invest EUR 200m in Slatina by 2021
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Pirelli, the Italian group that has produced tires in Slatina in the past ten years, said it will invest about EUR 200 million in the next five years in order to increase the production capacity to 15 million units per year. Pirelli produces tires both for premium cars and for Formula 1 and the number of employees in Slatina will increase by several hundred up to 3,350 in the next five years, hotnews.ro informs.
The Italian group has produced over 60 million tires in Slatina, and the annual capacity is now of 10 million units.
The factory is one of the most modern Pirelli plants and produces premium car tires primarily for markets in Eastern Europe. The plant’s area will be expanded to 260,000 square meters from 210,000 square meters at present.
The construction of tires is a Greenfield project which began in 2005 and the first tires were produced in 2006.
The company’s world leader said on Friday it is exploring the possibility of building a bicycle tire factory.
By 2014 the Pirelli investments in Romania amounted to EUR 450 million.
The tenth anniversary was marked on Friday by a visit to the Pirelli factory of PM Dacian Ciolos. He was accompanied by Finance Minister Anca Dragu, and Labour Minister Dragos Pislaru. Pirelli Group was represented by Executive Vice President and CEO, Marco Tronchetti Provera, and CEO of Pirelli Tyres Romania Giuliano Menassi, who is also head of the Department of Research and Development Group.
“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, t
he 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,” PM Dacian Ciolos said on this pccasion.
Pirelli is owned since the end of 2015 by China National Chemical Corporation, the largest Chinese group in chemical industry with annual revenues of USD 40 billion.
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