Pirelli Can Survive Debt Crisis With ‘Good Results,’ FTD Says
Pirelli & C. SpA, the world’s fifth- largest tire maker, can survive the European debt crisis with “good results” because only 40 percent of its sales are generated in Europe, Financial Times Deutschland reported today, citing Pirelli Chief Executive Officer Marco Tronchetti Provera.
Pirelli is focusing on an expansion outside Europe as well as growth of premium tires to limit the effects of Europe’s debt crisis, the German newspaper cited Provera as saying. Some 30 percent of the Italian company’s production is “flexible,” Provera said, according to Financial Times Deutschland.
To contact the reporter on this story: Niklas Magnusson in Hamburg at firstname.lastname@example.org
To contact the editor responsible for this story: Angela Cullen at email@example.com