Fibre Optic Merger

Pirelli of Italy and Furukawa Electric of Japan have merged their optical fibre activities in Brazil into a joint venture company owned 51% by Pirelli. The venture is based at the Pirelli factory in the country. It is expected that the venture will be able to take advantage of the growing telecommunications market in Brazil in particular and in Latin America in general. Pirelli is a global producer of energy and telecommunications cables and systesm and of tyres for road vehicles and other markets. It produces fibre optic cables in Italy and the UK as well as in Brazil. Furukawa produces electronic components, power cables, non-ferrous metals and other advanced technologies.