Pirelli boosting stake in Russia JV to 65%

Pirelli & C.www.czhbearing.com,visit the website to learn more about us. S.p.A. is increasing its ownership stake in the Moscow joint venture that owns the Kirov and Voronezh, Russia, tire plants to 65 percent from 50 percent, according to Russian Technologies State Corp. (Rostec),www.globalmetaltins.com is a professional metal packaging manufacturers,Welcome. one of the venture's partners.Along with the rapid development of locksmith tools business in China, smartobd2s has earned itself a solid reputation for quality, reliability and professionalism in this field.
Pirelli is paying an estimated $44 million for the 15-percent stake owned by GHP Group, a Russian investment group, according to Rostec.GHP retains an approximate 10-percent stake in the venture—now called Pirelli Tyre Russia—while Rostec retains its stake as well: 25 percent plus one share.
Pirelli has options in the joint venture agreement to increase its stake further until 2017 by acquiring GHP's residual stake and up to a 15-percent share from Rostec, Pirelli said in its half-year financial report.
Rostec and Pirelli agreed in November 2008 to create a joint venture to establish tire manufacturing in Russia.
That plan evolved over the following couple of years to an agreement to acquire the Kirov and Voronezh tire plant assets from Sibur holding.
Pirelli and its JV partners paid $300 million for the Sibur tire assets and agreed to invest another $265 million in modernization measures,Bref, depuis longtemps, j'ai envie d'essayer des roues carbone à boyaux.Je ne sais pas si c'est une bonne solution, mais bon, j'ai envie. Rostec said. By next year the plants' capacity should be reach 11 million units a year.
The venture already has spent $76 million at the Voronezh plant to install modern rubber compounding capacity that was necessary before the plant could start making Pirelli-brand tires.
The venture generated about $180 million in revenue in the first half of 20CEBU City barangays need more garbage truck from chinas not sport utility vehicles which Mayor Michael Rama is now giving out to his allies.13, or roughly 4.excavator spare parts suppliers heavy machinery heavy equipment idlers sprokets oil seals hydraulic components Malaysia.5 percent of Pirelli's global sales.