Michelin plans 150m-euro investment

Michelin Romania is planning to develop a new investment in Transylvania, with one of the locations chosen being somewhere in Cluj County. Sources close to the French group say the investment might amount to 150 million euros and entails the construction of a new factory that will take up approximately 40-50 hectares. The development of the investment over the next five years could result in some 1,000 new jobs in the area. Michelin officials met with the county authorities last week and were directed by the Cluj Prefect Office to the Turda Town Hall, an area where the amount of land requested by the company is available. Cluj-Napoca is lacking in this respect, which prevents this greenfield project from being developed in this location. When contacted by Ziarul Financiar Tudor Stefanie, Turda mayor, argued the non-disclosure clause and did not reveal any information about the meeting with the potential investors. Michelin officials did not care to provide further details, either. “Michelin is looking into various possibilities for implantation in Central Europe as part of its development strategy. These possibilities could include the increase in the number of production facilities, which are already important in Romania,” Michelin Romania officials told Ziarul Financiar. ZF