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European bank, Pirelli agree on loan

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European bank, Pirelli agree on loan

The European Investment Bank (EIB) will lend 100 million euros to Pirelli & C. to facilitate development of "manufacturing process innovation for reduction of the environmental impact of tires," according to Pirelli officials.

The loan will support Pirelli's product development efforts through 2012.

"We are happy to continue our tradition of supporting the Pirelli Group...(which is) placing great attention on the goal of reduction of polluting emissions," says Dario Scannapieco, EIB vice president, who oversees the bank's activities in Italy, Malta and the western Balkans.

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