Gori: Pirelli Must Expand in China, Russia & Brazil

Pirelli Tyre must consolidate its presence in mature markets and expand in high-growth areas such as China, Russia and Brazil, stated CEO Francesco Gori in an interview with Italian newspaper Milanzo Finanza. When asked why he did not include India as a focus country, Gori said sales in this market are impacted by the absence of a modern highway network: “India is not yet at the level of Brazil, China, and Russia.”

Mr. Gori said raw material prices have risen more than expected and that in such difficult market conditions, meeting targets is a challenge. He added that a listing of Pirelli Tyre is not on the agenda, and will not be considered in the near future.