Michelin Group invests EUR 60 mln in Romanian plant

Michelin group will invest EUR 60 million in the metallic cord plant Michelin Zalau Cord in Zalau town, in the North-Western Romania, creating 140 jobs and increasing production capacity by 50 percent, to 60,000 tons of metallic cord per year by 2019, said the company, according to Mediafax.

Michelin Zalau Cord manufactures metallic cord for Michelin tires and employs 350 people.

“Michelin Zalau Cord plant is a strategic unit for the group through its production of metallic cord. With more than 90 percent of the metallic cord production intended for export, Michelin Zalau Cord plant contributes to the tire production in numerous Michelin plants on 3 continents, Europe, America and Asia,” said the company.

Michelin has been operating in Romania since 2001 and has three factories, two in Zalau and one in Floresti. Its investments on the local market, comprising in the upgrade of the plants and staff training, reached EUR 400 million. Michelin Romania has 3,300 employees.