Pirelli sells Venezuelan subsidiary

According to a statement issued on 7 September, Pirelli has disposed of its car tyre factory in Guacara, Venezuela and all other activities within the country. As Pirelli’s Venezuelan subsidiary was deconsolidated as far back as 31 December 2015, the tyre maker says the operation’s divestment “has no financial effects on the group.”

Pirelli wrote: “The agreement, which calls for employment continuity, was reached with a consortium of South American entrepreneurs and the company Sommers International, in the capacity of buyer. Pirelli wishes to thank its collaborators and clients for its 28 years of activity in the country and wishes the new management every success.”