Pirelli has said that it has signed a letter of intent with Russian Technologies to start negotiations for a joint venture that will make and sell tyres in Russia and the CIS States.
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In a statement, Pirelli said the two companies have set a September 30 deadline for a final accord. The joint venture, which will produce tyres for cars, light trucks and industrial vehicles, will be equally owned and will have the Pirelli brand.
“This letter of intent is the first step to create an import industrial presence of the Pirelli Group in Russia,” said Chairman Marco Tronchetti Provera in the statement.
