Pirelli Russia Factory Work to Begin March 2009

According to Russia’s Interfax news service, construction work on Pirelli’s tyre factory in Togliatti will begin in March 2009. This announcement was apparently made by Vladislav Kapustin, head of the Samara region’s Industry, Energy and Technology Ministry, at a press conference during the opening of an automotive industry trade show in Togliatti.

“The talks with Pirelli are proceeding successfully,” said Kapustin. “An entire Pirelli delegation visited the future site of the plant in Togliatti. Pirelli’s plans are to begin work at the site in March. Practical plans are not being revised.”

Previous reports indicate that Pirelli and Rostekhnologii (Russian Technologies) are investing 250 million euros in the joint venture factory, which will have an annual capacity of approximately 4.2 million tyres. Rostekhnologii and Pirelli will jointly control the new enterprise, which will hold 100 per cent stake in subsidiaries for production management and tyre sales. Factory output, principally car and truck tyres, will be sold on Russian and CIS markets, reports Interfax.