ROVERETO, Italy—Marangoni S.p.A. and Tatneft Group have agreed to form a joint venture in Russia for tire retreading of all steel truck tires.
Marangoni announced the deal on Nov. 13, saying the new venture—based in Nizhnekamsk, Republic of Tatarstan—will be operated through KaMaRetread L.L.C. and be owned 65-percent by Tatneft and 35 percent by Marangoni.
The Italian company is to contribute to the joint venture unique 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 joint venture is scheduled to commence operations for the truck tire market in the first half of 2015, the companies said. This will include supplying retreading services to consumers of all-steel truck tires manufactured in Tatneft's plant in Nizhnekamsk.
Marangoni said it and Tatneft believe in market potential of the venture and consider it as the first step for the expansion of cooperation in the future.