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.
"With their high level of technological expertise and long experience in emissions' control systems, CDTi is an ideal partner with whom to develop commercial initiatives for the distribution of our products. The joint venture is a first step and will allow us to develop important synergies and expand our markets of reference, as well offering our clients an ever more complete range of products with high level technological components," said Giorgio Bruno, Chief Executive Officer of Pirelli & C. Ambiente.CDTi is a vertically integrated global manufacturer and distributor of emissions control systems and products, focused on the heavy duty diesel and light duty vehicle markets. CDTi utilizes its proprietary patented Mixed Phase Catalyst (MPC®) technology, as well as its ARIS® selective catalytic reduction, Platinum Plus® fuel-borne catalyst, and other technologies to provide high-value sustainable solutions to reduce emissions, increase energy efficiency and lower the carbon intensity of on- and off-road engine applications. CDTi is headquartered in Ventura, California and currently has operations in the U.S., Canada, U.K., France, Japan and Sweden. The CDTi logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5742 Pirelli & C. Ambiente S.p.A provides solutions for sustainable development in relation to energy production. This includes alternative combustion fuels such as CDR-P, a high quality combustible derived from solid urban waste, as well as photovoltaic and wind installations through its indirect holding in Greentech Energy Systems A/S. Pirelli & C. Eco Technology RO (Romania), develops and produces environmental solutions principally based on silicon carbide. Both companies are 100%-owned units of the Pirelli Group. The Pirelli logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=17216 Forward-Looking Statements Safe Harbor. Certain statements in this news release, such as statements regarding future collaborations or joint initiatives, or the possibility of increased sales or market expansion, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known or unknown risks, including those detailed in CDTi's filings with the U.S. Securities and Exchange Commission, uncertainties and other factors that may cause the actual results, performance or achievements of CDTi to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Neither CDTi nor Pirelli assume any obligation to update the forward-looking information contained in this release.
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