Cord Romania Open for Business

Pirelli and Continental opened their 80:20 joint venture Slatina steel cord production plant, Cord Romania on Friday.

The factory is located on a 100,000 square metre area will have an annual output of 30,000 tons of steel cord and employs 350 people. The steel cord is destined for tyre production in East European markets.

The new facility will require an investment of 40 million euros over several years to meet growing demand which is already almost two times supply says Continental.

This investment is the first ever made by Pirelli Tyres in the Balkan region and is part of the company’s expansion strategy in Romania. The manufacturer also plans to open a new high performance car tyre plant in Slatina in 2006.