Pirelli gets EUR 50 million financing from EIB

Tyre-maker Pirelli has signed a EUR 50 million loan agreement with the European Investment Bank EIB to finance and increase in the tyre production for cars and light commercial vehicles in Pirelli’s production facility in Slatina, Romania. Pirelli had previously announced EUR 250 million investments to finance the Romanian activities between 2009 – 2011. In the tyre sector, Pirelli Tyre is the fifth largest manufacturer worldwide in terms of revenue and leader in the high end of the market, with 23 factories located around the world. In the real estate sector the Group is present with Pirelli RE with businesses mainly in Italy and Germany.