Pirelli increases investment plan
Valor Econômico
The projections of economic growth and increased of the demand for equipment led Pirelli to strengthen the investment program in the production of tires for agricultural machinery, civil construction and mining. The Santo André (SP) plant, where these lines are produced, will receive investments of US$ 100 million over the next two years.
"Brazil is no longer the country of the future", said the International President of Pirelli, Marco Tronchetti Provera. The new investment will be added to the US$ 200 million program announced in the beginning of July for the increase of the capacity. Besides that, the Italian company already invested another US$ 100 million in 2008. "The economy is stable in Brazil, which was not affected by the crisis", said Provera. Pirelli already has 50% of the business outside Europe, where, due to the crisis, had to reduce its pace and even close a unit.