Pirelli to Buy Russian Plant ‘Next Year’

3rd December 2009 | 0 Comments
 
Pirelli to Buy Russian Plant ‘Next Year’

Pirelli & C SpA and state-run Russian Technologies will reportedly buy an existing tyre plant in Russia “next year.” Speculation continues as to exactly which plant Pirelli is interested in. However, Pirelli group chairman Marco Tronchetti-Provera’s earlier remarks that the plant is “relatively new” suggest it is likely to be an ex-Amtel-Vredestein site, with Voroznezh and Kirov leading the running.

Quoting a joint statement published today (3 December 2009), the two companies confirmed that their joint venture will also build a new plant in the Samara region of Russia for production of tyres and metal cord. As has been previously been reported, the new 300 million euro ($453.4 million) plant is expected to have an annual capacity of 4 million units within five years and employ 1,500 people.

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