Michelin reports EUR 265 mln investments in Romania during last decade

Tire manufacturer Michelin invested over EUR 265 million in three units and produced more than 450,000 tonnes of tires in its ten years of activity in Romania, according toEric Faidy, president of the local division and for the Balkans area. Michelin runs two tire production units in Romania, a metallic cord production facility, a retreading workshop, a mapping team, responsible for the maps and guides, and a national sales network . Michelin's factories in Romania produce tires for cars, which are exported to markets from Europe, North America and Asia. Michelin group entered the Romanian market in the summer of 2001, with the purchase of the Victoria Floresti plant from Tofan Group, followed shortly by the purchase of Silvania plant in Zalau. In 2005, Michelin Romania became a regional center for the Balkans, coordinating, in addition to the local market activity, production and commercial operations in Albania, Bulgaria, Croatia, Bosnia and Herzegovina, Macedonia, Montenegro and Serbia. Irina Popescu, irina.popescu@romania-insider.com