18.03.2022, 12:40
Tire Manufacturer Pirelli Stops Investing in Russia
Source: ИА «Ореанда-Новости»
OREANDA-NEWS Italian tire manufacturer Pirelli stops investing in Russia. The work of factories in Russia will gradually be limited to those types of activities that are necessary to ensure the payment of wages and social services for employees.
Pirelli enterprises in Kirov and Voronezh account for about 10% of the company's global tire volume, the Kommersant newspaper writes. Recall that the joint venture of Pirelli and Rostec State Corporation in December 2011 acquired the Kirov Tire Plant from Sibur Holding, its production capacity is about 6 million tires per year.
In February 2012, the joint venture acquired the Voronezh Tire Factory, which is aimed at producing premium Pirelli tires. The production volume is 2 million tires per year, while the plant's capacity allows to increase production volume in favorable market conditions. Since the acquisition of both companies, the introduction of new technologies has begun, the organization of work processes in the field of logistics, quality control, production has been revised, thereby ensuring that the products meet the high standards of Pirelli.
Pirelli's total investment in Russia exceeds 470 million euros: 222 million has already been invested in the acquisition of assets by the joint venture, more than 250 million euros have been allocated for the modernization and development of two plants. Both companies employ more than 2,500 people.
Pirelli enterprises in Kirov and Voronezh account for about 10% of the company's global tire volume, the Kommersant newspaper writes. Recall that the joint venture of Pirelli and Rostec State Corporation in December 2011 acquired the Kirov Tire Plant from Sibur Holding, its production capacity is about 6 million tires per year.
In February 2012, the joint venture acquired the Voronezh Tire Factory, which is aimed at producing premium Pirelli tires. The production volume is 2 million tires per year, while the plant's capacity allows to increase production volume in favorable market conditions. Since the acquisition of both companies, the introduction of new technologies has begun, the organization of work processes in the field of logistics, quality control, production has been revised, thereby ensuring that the products meet the high standards of Pirelli.
Pirelli's total investment in Russia exceeds 470 million euros: 222 million has already been invested in the acquisition of assets by the joint venture, more than 250 million euros have been allocated for the modernization and development of two plants. Both companies employ more than 2,500 people.
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