This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Pirelli & C. Ambiente And Clean Diesel Technologies, Inc. Form JV To Market And Sell Emission Control Products In Europe And The CIS Countries

VENTURA, Calif. and MILAN, Italy, Feb. 20, 2013 (GLOBE NEWSWIRE) -- Pirelli & C. Ambiente SpA and Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (CDTi) today announced the signing of an agreement to form a joint venture company to market and sell emissions control products for both gasoline and diesel applications in Europe and the CIS countries. The new joint venture company, Eco Emission Enterprise Srl, will be located in Milan, Italy, and is expected to begin operations in March 2013.

CDTi Logo
Pirelli logo

Through the joint venture, CDTi and Pirelli aim to consolidate their leadership in supplying solutions to control polluting emissions for the on-road and off-road heavy and light duty markets, both in the Original Equipment and After Market segments. In addition, the two companies intend to enhance the synergies deriving from the joint venture through eventual joint initiatives. The agreement entails the supply to the joint venture of silicon carbide substrates by Pirelli & C. Eco Technology RO (Romania) and emission control solutions by CDTi. Eco Emission Enterprise Srl, which will have an international management team, will operate as the commercial arm for both partners on the European market.

"We take great pride in forming a strategic joint venture with Pirelli, a globally-renowned multinational company with leading technologies and products," said Craig Breese, Chief Executive Officer of CDTi. "The formation of the joint venture enhances our combined product portfolios and capabilities and aligns well with both companies' business development strategy. This agreement expands and enhances CDTi's presence in Europe and leverages Pirelli's longstanding OEM relationships and rich history as a global leader in the European market, making them the perfect partner for CDTi."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs