Shandong Province, China -- Pirelli said it began manufacturing high-performance car tyres in China in the Group's second factory in the Shandong Province today, 27 November. The stake in the JV has recently been increased from 60 percent to 75 percent. This transaction had a value of about 11 million euros.
The new industrial facility, in the same area as the factory for truck tyres which opened in 2005, was inaugurated in the presence of Riccardo Sessa, Italian Ambassador to the People's Republic of China, Marco Tronchetti Provera, Chairman of Pirelli, Francesco Gori, CEO and General Manager of Pirelli Tyre, Niu Yshun, Chairman of Yinhe Group, and Chinese authorities.
The factory occupies a covered surface area of 70 thousand square meters and has a manufacturing capacity of about 3 million pieces per year, with areas sufficient to contain manufacturing expansion up to 10 million pieces per year. Employees, nearly all of local origin, count about 1000. The investment made by Pirelli to build the factory amounted to nearly 100 million dollars. Production will be destined for China and the main markets in the Asia-Pacific area.
In addition, on 29 November, the Group has decided to present in Shanghai, "Pearls of the Orient", the title of the 2008 Pirelli Calendar shot in Shanghai by photographer Patrick Demarchelier.
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Press release from Pirelli