Pirelli has reported an impressive boost in the turnover of its UK branch, with the company's latest accounts showing a jump of nearly £40 million last year.
The 2011 figure took the company over the £300 million mark , and its publication comes hot on the heels of the tyre giant's announcement it will be investing a total of £20 million in its Carlisle factory.
As reported by the Burton Mail, the rise in turnover should help to protect the 350 jobs Pirelli supplies at the site, which it has selected as the R&D centre for its new range of eco-tyres.
A total of £11.4 million is due to be invested on research and development, with £9 million going towards machinery upgrades. This will build on the £2 million awarded to the company from the government's Regional Growth Fund.
Accounting for the turnover rise, Pirelli indicated in its director's report that ongoing product development in the original equipment market allowed it to secure lucrative new contracts with the likes of Jaguar Land Rover.
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Posted by Danielle Barge