Pirelli To Retain Commercial Tyre Business

Following speculation over the last year, Pirelli has confirmed that it is retaining its Commercial Vehicle Tyre Operation, and that this sector will now be headed up by Alberto Pirelli in Milan. Chairman, Marco Tronchetti Provera, said: “Pirelli is in the best position to manage and develop its assets, as demonstrated by its improved performance against major competitors and given the Group’s ability to finance its own growth, there is no necessity for any sale. Restructuring within the Pirelli Group and its new three-year plan show good prospects in terms of profitability and cash flow”.