Loans and contributions received from the public administration

Romania

In March 2012 the European Investment Bank (EIB) disbursed euro 10 million to Pirelli Tyres Romania S.r.l., pursuant to an agreement for a total of euro 50 million in financing as support for an investment of euro 263 million to be used to expand the Pirelli plant in Slatina, Romania, for the production of car tyres and light commercial vehicles. This loan complements a similar loan that was granted in 2007 to support establishment of that same manufacturing site. In 2012 and 2013:

  • S.C. Pirelli Tyres Romania S.R.L. received euro 7.0 million and euro 4.8 million, respectively, from the Romanian government as incentives for local investment;
  • S.C. Cord Romania S.R.L. received euro 2.0 million and euro 4.3 million, respectively, again from the Romanian government as incentives for local investment.

Italy

In September 2012 Pirelli Tyre S.p.A. received euro 1.4 million from the Region of Piedmont as contributions to the Next Mirs project.

Mexico

In 2012 and 2013 Pirelli Neumaticos S.A. de C.V. (Mexico) received grants from the Government of the state of Guanajuato, Mexico for investments and job creation in the amounts of euro 4.5 million and euro 3.1 million, respectively. In 2013 the company also received grants from the federal government through ProMexico for the equivalent of euro 1.5 million for investment and jobs creation.