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Wednesday, February 20, 2013

Pirelli, Clean Diesel Technologies in emissions control JV, (NCM: CDTI)

Italian tyre maker Pirelli and Clean Diesel Technologies said on Wednesday they plan to team up to sell pollution control systems for gasoline and diesel engines starting in March 2013. The two companies will set up a joint venture called Eco Emission Enterprise based in Milan to sell their products in Europe and in the CIS countries.Under the terms of the agreement, a unit of Pirelli will supply its silicon carbon substrate particle filters to the joint venture, and Clean Diesel Techncology will supply its own vehicle emission control products.

Clean Diesel Technologies, Inc. is a global manufacturer and distributor of heavy duty diesels and light duty vehicle emissions control systems and products to automakers and retrofitters. Shares of CDTI traded higher by 19.52% or $0.49/share to $3.00. In the past year, the shares have traded as low as $1.93 and as high as $5.28. On average, 48626 shares of CDTI exchange hands on a given day and today's volume is recorded at 191502.