Nov 1 2004
The operation which foresaw the creation of a joint venture participated by Pirelli (80%) and Continental (20%) for steel cord production in Romania – announced the past October 1st - was completed today. The joint -venture, named Cord Romania Srl, will build and operate a new plant in Slatina, which will directly serve the fast growing East European markets.
The new company is forecasted to rapidly expand investing up to 40 million Euros in the next three years, being able to produce – when fully operative – 30,000 tons of steel cord per year, with about 350 employees. Cord Romania will thus be able to meet the growing demand of this important component for tyres in the area, at present exceeding almost two times the offer. Steel cord is used by tyre producers as main reinforcement material for radial tyres.
For more information on tyres, click here.