Italian tire producer Pirelli plans to open a bicycle tire factory in Romania, said Pirelli CEO Marco Tronchetti Provera.

Pirelli announced additional investments of about EUR 200 million in the industrial center in Slatina, in southern Romania, by 2021. The Italian company has already invested more than EUR 500 million in the production of car tires in Slatina.

Prime Minister Dacian Ciolos said that he greeted Pirelli’s plans for the new factory and that the Government will provide support.

Pirelli will expand the factory in Slatina from 210,000 sqm, its current size, to 260,000 sqm, reports local Ziarul Financiar. The group also plans to develop its production area dedicated to motorsports, including a production unit for the Formula 1 championship. The unit would operate as a back-up for the main Pirelli factory dedicated to Formula 1 which is located in Turkey.

Pirelli started its production in Slatina ten years ago. The group produces premium tires used to equip cars manufactured by companies such as Mercedes-Benz and Audi, but also for Formula 1 cars.

The Italian group was acquired by China National Chemical Corporation, the largest Chinese group in chemical industry, at the end of last year.

editor@romania-insider.com

(photo source: Pirelli.com)