Pirelli will invest 105 million euros in Romania within the next five years, the Italian company today announced.
From 2013 to 2017, Pirelli will spend 105 million euros to expand production at its Slatina plant in Romania from 10 million tyres a year at the end of 2013 to 13 million tyres in 2017. Due to the investment, Slatina is set to become Pirelli’s largest plant in the world. Pirelli’s investment will be supported by the Romanian government with 35 million euros.
The new investment adds to Pirelli’s Romania investment plan for 2005 – 2014, worth 450 million euros. The money will be used to expand the plant’s area from 180,000 square meters to 200,000 square meters and to develop production capacity.
Pirelli’s Slatina plant currently makes 8.5 million tyres a year and will make 10 million tyres at the end of next year. Under the new investment plan, Pirelli will create 500 new jobs in Slatina by 2017, with the total number of employees to reach 3,500.
The Slatina tyre plant is one of Pirelli’s most advanced facilities and manufactures premium tyres for luxury automakers such as Mercedes-Benz and Audi.