Created the joint venture between Pirelli and Continental for
steel cord production in Romania
Milan, 29 October 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.