Pirelli has said that its presentation of its ‘2013-2017 Industrial Plan’, initially scheduled for May 8th, 2013, will now take place in November of 2013. It says it is reviewing its ‘commercial structures’ in the light of the persisting economic crisis in Europe.
It also says the decision was taken to provide “better visibility on the context of reference and enable the preparation of coherent medium-to-long term forecasts, taking into account that the macro-economic and business context in which Pirelli operates is in significant and continuous evolution, more markedly so in recent times”.
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The companys says that in rapidly developing markets and the United States, in particular, Premium demand is growing at a rate around three times faster than that of global demand for car tyres. In Europe, on the other hand, the persisting economic crisis is having a clear impact on consumption and therefore on the demand for tyres, even Premium ones.
In such a context, at the European market level, Pirelli says it is carrying out a significant review of its commercial structures. This entails, among other things, a growing integration of high-end European production capacity with the markets that present the greatest demand for Premium products.
The 2013 targets, announced to the market on March 11th, 2013, with the presentation of the 2012 results, remain unchanged, Pirelli says.
