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EIB AND PIRELLI: FINANCING AGREEMENT FOR 50 MILLION EUROS

bancainvestimentiThe European Investment Bank (EIB) and Pirelli have signed a financing agreement for EUR 50 million today. The loan will finance an increase in tyre production for cars and light commercial vehicles in Pirelli’s production facility in Slatina, Romania. It will be used within the context of the EUR 250 million in investments previously announced by the Group for its Romanian activities for a three-year period from 2009 to 2011.                 The new loan consolidates the relationship between Pirelli and the EIB, which in the past participated in the Group’s consistent commitment to innovation and increasing competitiveness globally, in research and development as well as in support of industrial growth.

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1 news Friday, December 18th, 2009