Pirelli signs agreement for radial moto JV factory in Indonesia

摘要

London, UK - Pirelli has signed an agreement with Astra Otoparts, an Indonesian automotive components maker, for the construction of a new factory in Indonesia to make conventional motorcycle tyres. Pirelli first announced its intention to develop the plant, its first in the country, in November 2011. The agreement entails the creation of a joint venture in which Pirelli will hold the majority position with 60 percent of the capital and Astra will hold the remaining 40 percent. The joint venture will invest a total of $120 million (?90 million) between 2012 and 2014 for the construction of a new factory.