Pirelli Focusing Strongly on Tyres, May Sell Loan Business

Pirelli has already indicated a willingness to place a greater focus upon its thriving tyre business, and this emphasis is apparently being paired by a withdrawal from less profitable undertakings. Italian newspaper Il Sole 24 Ore reported on March 8 that the company was considering divesting itself of Pirelli Real Estate’s poorly performing loan business, and while no source was given for this information the paper added that the group’s intentions may be outlined in a business plan Pirelli & C SpA is scheduled to present in May.

The company’s intended buyback of the 38.9 per cent share in Pirelli Tyre has been long anticipated, and the newspaper added that the company has detailed substantial investment in its tyre business, and is ready to acquire German and Italian companies that supply state of the art technology to the automotive industry.