Speaking at Michelin Challenge Bibendum Global Summit organized in Chengdu (China), Senard said Romania, Serbia and Hungary still have significant potential, adding Romania boasts loyal, hard-working and diligent people, but its economy still has a long way to go.
French tire producer Michelin has been operating in Romania since 2001, where it has three factories, two in Zalau (Bihor county) and one in Floresti (Prahova county), respectively. Its investments on the local market, which consisted in modernizing its plants and training its employees, amount to EUR300 million. Michelin Romania has 3,000 employees.
Early 2013, the company bought a 20-hectare land in Zalau, but has not yet announced any investment plans.
In 2014, Michelin decided to close down its truck tire factory in Budapest, which employed 512 people, and relocate the tire production under the brands Taurus, Riken and Kormoran to Romania (Zalau), Poland (Olsztyn) and Germany (Karlsruhe and Homburg).
Starting 2014, Michelin’s Romanian division has become a regional hub for Central and Southern Europe, coordinating the activity in 12 countries.
Michelin Romania’s turnover was flat on the year to RON2.12 billion in 2013. In 2010, the French group forecasted a 50% turnover growth rate in Romania by 2020.