CORRECTION Pirelli invests 100 mln eur in China tyre plant,ups stake in Yinhe JV |
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Published
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Tue, 27 Nov 2007 09:07
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(Corrects annual tyre production figure in par 2 to 3 mln)MILAN (Thomson Financial) - Pirelli & C SpA said it has invested 100 mln eur to build its car tyre plant in Yanzhou, China, which started operations today.The plant will produce 3 mln tyres per year and employ 1,000 people.Pirelli operates in China via a joint venture with the Yinhe group.The company said it has agreed to raise its stake in the venture to 75 pct from 60 pct for 11 mln eur.danilo.masoni@thomson.comdm/sal/salCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Pirelli invested 100 mln eur in new China tyre plant, ups stake in JV with Yinhe 