Pirelli announces plans for Russian JV
Pirelli & Cie SpA and Russian Technologies State Corp. (RTSC) will spend 250 million euros to set up a joint venture in Russia.
The joint venture will own 100% of a new company to be founded in Russia that will monitor production and sales of its tires.
The venture's tire manufacturing facility will be located in Russia's Samara region and will have a starting capacity of 4.2 million passenger and industrial tires.
RTSC is a legal body established by the Russian Federation Government. Its goal is to attract investments in various industrial sectors.