Loans and contributions received from the public administration

Romania. In March 2012 the European Investment Bank (EIB) disbursed €10 million to Pirelli Tyres Romania S.r.l. as the last tranche of a financing agreement for a total of €50 million, given as support for an investment of €263 million to be used to expand the Pirelli plant in Slatina, Romania, for the production of car tyres and light commercial vehicles. The financing is accompanied with a similar one, granted in 2007 and fully repaid at the end of 2013, received in support of the construction of the same production site.

It is also noted that:

  • S.C. Pirelli Tyres Romania S.r.l. collected a sum from the State of Romania of €28.9 million by way of incentive to local investment, of which €4.4 million was in 2014;
  • S.C. Cord Romania S.r.l. collected a sum from the State of Romania of €10 million also by way of incentive to local investment, of which €3.8 million was in 2014.

Italy. During 2014, Pirelli Labs (Italy) collected a grant from the Ministry of Education, University and Research of €1.4 million and collected €3.5 million by way of incentive as part of a facilitated loan for a Research & Development project.

Mexico. Starting in 2012, Pirelli Neumáticos S.A. de C.V. (Mexico) collected contribution grants from the Government of the state of Guanajuato (Mexico) for investments and generation of employment for a total of €10.8 million, of which €600,000 was collected in 2014.

The company also received from the contribution grants from the Mexican Federal Government for investments and generation of employment for the ProMexico project totalling €5.9 million (the incentives were paid from 2012), of which €1.6 million was collected during 2014, and an annual incentive for the Conacyt research and development of €900,000.

United Kingdom. In the years 2013 and 2014 Pirelli Tyres Ltd (United Kingdom) received government contribution grants, as part of the RGF - Regional Growth Fund programme for investments and generation of employment related to the introduction of the new UHP products at the Carlisle plant, for a total of €2.6 million, of which €700,000 was collected in 2014.