According to reports, Pirelli tires will begin to increase their stake in the Russian joint venture, plans to increase from the current holding of 50% to 65%.
Rostec stated recently that Pirelli plans to spend US$44 million to hold a 15% stake in PirelliTyreRussia held by GHP Group, and that Rosetec will continue to hold its 25% stake in the joint venture company.
Pirelli once pointed out in its midyear financial report this year that the company still has options for its Russian joint venture company. It can acquire the remaining shares of the joint venture company held by GHP Group before 2017 and has the right to acquire 15% of the joint venture company from Rosetec. Shares.
In November 2008, Rostec reached an agreement with Pirelli to form a joint venture in Russia. In the following two years, the two companies acquired Kirov and Voronezh from Sibur Holding Company. (Voronezh) tire factory.
Rostec said that in order to acquire Siebir's tire assets, Pirelli and its joint venture partners invested US$300 million in funding and agreed to add an additional US$265 million to modernize the plant. The tire production capacity of the two factories is expected to reach 11 million pieces/year by next year.
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