NIZHNEKAMSK, Russia (Nov. 13, 2014) — Marangoni S.p.A. and Tatneft Group have agreed to form a joint venture in Russia for tire retreading of all steel truck tires, with production set to begin by mid-2015.
Marangoni announced the deal on Nov. 12, saying the new venture — based in Nizhnekamsk — will be operated through KaMaRetread L.L.C. and be 65-percent owned by Tatneft and 35 percent by Marangoni.
The Italian company is to contribute to the joint venture its proprietary equipment, technologies and experience in tire retreading and provide training. Tatneft will provide a facility for the retreading, management and personnel as well as local expertise.
The partners did not disclose their expected investment in the venture, nor its capacity or employment.
The venture's business will include supplying retreading services to consumers of truck tires manufactured by JSC Nizhnekamskshina, Tatneft's tire subsidiary in Nizhnekamsk.
Rovereto, Italy-based Marangoni said it and Tatneft “believe in market potential of the JV and consider it as the first step for the expansion of cooperation in the future.”
Tatneft said establishing a tire retreading facility is the final component of its program to create and develop a new class of steel-cord truck tires and related services.
Tatneft is considered one of the largest vertically integrated oil and petrochemical groups in Russia, with activities in the production of oil and gas, refining and marketing of oil and refined products, as well as manufacturing and marketing tires, Marangoni said.
Tatneft is listed on the Moscow Exchange and London Stock
