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Pirelli finalizes Chinese joint venture

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Pirelli & Cie SpA has completed the formation of its joint venture with Roadone Tyre Co. Ltd.

Pirelli owns 60% of the venture and plans to invest $70 million into it.

The venture will produce radial truck tires in Southeast Asia, say Pirelli officials.

The Italian tiremaker plans to invest 150 million euros in China over the next three years.

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