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Pirelli, Continental Jointly Make Steel Cord

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[verwijderd] 1 oktober 2004 17:09

1 Oct 2004 14:21 GMT Pirelli, Continental Jointly Make Steel Cord In Romania

MILAN -(Dow Jones)- Pirelli & C. SpA (PC.MI) Friday said it will form a joint venture in Romania with Continental AG (CON.XE), turning a bitter takeover story of the past into a partnership.

Italy's Pirelli said its tire division will own 80% of Cord Romania Srl, a steel-cord maker, while its German rival owns the remaining 20%.

The pact comes almost 15 years after Pirelli tried to buy control of Continental in a costly campaign that rocked the finances of the Italian company.

The Romanian venture will invest up to EUR40 million during the next three years to produce 30,000 tons of steel cord a year, Pirelli said. The factory will be built in Slatina next to a Pirelli facility producing power cables.

The investment, the first by Pirelli's tire division in southeastern Europe, will bolster the Italian company's leading position in the European market for steel cord used in making tires.

Continental has a tire-making facility in Timisoara that makes around 10 million tires a year.

-By Christopher Emsden, Dow Jones Newswires; +39-02-58-21-99-05; chris.emsden@dowjones.com

(END) Dow Jones Newswires

10-01-04 1021ET

[verwijderd] 1 oktober 2004 17:12

Goed bezig leoncio1.

Hier 1 kudo.

Ton

[verwijderd] 29 juni 2016 23:54

Verwoestende rode candle van afgelopen maandag doorboort steun op 173.83 EUR. Deze daling dreunt nog enkele dagen door. Zonder verder herstel dreigen we op nog lagere niveau terug te vallen.

Voor 50% IN op 170 EUR.

www.aandelenfabriek.nl/continental/

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