MILAN, Italy (April 9, 2013) — Pirelli & C. S.p.A. is carrying out a "significant review" of its European commercial structure, in particular the high-end tire production capacity, with the possibility of integating such capacity with the markets that present the greatest demand for premium products.
Pirelli disclosed this possible restructuring in a press release announcing the delay until November of the release of its 2013-17 Industrial Plan. It said delaying this presentation would allow management time to prepare more "coherent" medium- to long-range forecasts in light of the continuously evolving business environment.
Pirelli was scheduled to release its latest four-year strategic blueprint on May 8. This will now take place in November following the presentation of the firm's nine-month financial results.
In particular, Pirelli cited the rapidly developing markets and the U.S., where premium demand is growing at a rate around three times faster than that of global demand for car tires. In Europe, on the other hand, the persisting economic crisis is having a clear impact on consumption and therefore on the demand for tires, even premium ones.