CARLISLE, England (Aug. 13, 2012)—Pirelli Ltd. is investing about $31.5 million in product development and manufacturing upgrades at its car and light truck tire plant in Carlisle, according to information released by the United Kingdom's Trade and Industry Ministry.
The investment, confirmed by Pirelli Ltd., will be spread over several years and includes $14 million for machinery and equipment upgrades at the 44-year-old factory in Carlisle.
A Pirelli U.K. spokeswoman said the project will be in two phases: first to develop a new product and then to industrialize the product at the Carlisle plant. The spokeswoman declined to say which application area the product would be in, but she ruled out truck and agricultural tires.
The first phase of the project is a research and development project worth about $16 million, which will be fully managed and implemented from within the U.K.
The Trade and Industry Ministry said the investment would lead to 37 jobs and would help protect 120 further jobs.