Pirelli signs on dotted line for Russian plant
ERJ staff report (DS)
Moscow -- Pirelli is to build a joint venture plant for passenger car and truck tyres in Russia. The agreements signed between the two companies to date include construction of a new industrial complex for production of car and truck tyres in the Russian region of Samara, whose Government supports the project. The facility will have initial annual manufacturing capacity of about 4.2 million units, for a joint investment of about 300 million euros. T
Pirelli signed a further agreement with joint-venture partner, Russian Technologies State Corporation, in Moscow yesterday during a summit attended by of Italian Prime Minister Silvio Berlusconi and Russian Federation President Dmitri Medvedev.
The project is not completely finalised, but Pirelli said it expects to begin construction work on the factory by Summer 2009, with initial production in 2010.
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Press release from Pirelli
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