Pirelli buys Hevea-Tec, Brazil’s biggest natural rubber processor

Pirelli signed an agreement to acquire 100 per cent of Hevea-Tec, the largest independent processor of natural rubber in Brazil, for “around 21 million euros”. Following regulatory approval, the deal is expected to close by the end of 2023. Pirelli reports that the acquisition will not impact the 2023 net financial position target of around 2.35 billion euro.

The deal increases Pirelli’s supply of natural rubber in Latam “ensuring continuity of provision in the Region and, therefore, greater efficiency”, according to the company. And Pirelli plans to increase Hevea-Tec’s production volumes.

Furthermore, Pirelli reports that the purchase “facilitate the launch of innovative natural rubber projects aimed at increasing the use of non-fossil-based materials in the tyres”.