MILAN, Italy (June 16, 2005) — Pirelli S.p.A. and RoadOne Tyre Co. Ltd. of Jinan, China, are creating a joint venture aimed at making all-steel radial truck tires at Road One's factory in Shandong Province.
The transaction, which is expected to be completed within the year, is subject to the approval of the relevant authorities.
RoadOne was established about two years ago by Chinese conveyor belt maker Yinhe Group. Earlier Pirelli had discussed a venture with Aeolus Tyre, but those talks later hit an impasse.
RoadOne's plant has a capacity of 3 million units a year.