Italian tyre maker Pirelli (MSE:PC) plans to invest further EUR 250 million (USD 347.8m) in its industrial pole in Slatina, Romania, the group said in a statement, the Italian news agency ANSA reported.
The total investment of the group in Romania will reach EUR 500 million by the end of 2011.
Pirelli has invested some EUR 250 million in the eastern European country for the last five years in order to create an industrial pole, whose production capacity at the end of 2009 is expected to stand at five million tyres. The group has also established a plant for production of steel cord, which is a reinforcement material for radial tyres.
Pirelli will start production of particulate filters for new automobiles in its plant in Bumbesti, Romania, by the end of the year, the statement also reads.
According to the group’s website www.pirelli.com, Pirelli's industrial pole in the automotive sector in Romania is strategic for the company's future growth in the emerging markets of eastern Europe, and is set to grow further in the coming years, the chairman of Pirelli & C., Marco Tronchetti Provera, told the Romanian Prime Minister, Calin Popescu Tariceanu, at a meeting on September 29. Provera illustrated to Tariceanu the programmes for training and development of personnel started by Pirelli in its Romanian factories. In the 2006-2008 period, Slatina workers were given an average of about 150 days of professional training each, with a total investment of more than EUR 500,000.
Search for: news |
Search for: company |
Search for: Romania |
