ROME, Ga. -- Pirelli has expressed interest in acquiring Continental AG’s truck tire division.
"We are looking at all attractive targets. Truck tires are definitely interesting for us," Pirelli Chairman Marco Tronchetti Provera told German newspaper Handelsblatt.
The paper reported that Continental has not ruled out selling its truck tire unit because its margins remain below expectations.
Tronchetti also said Pirelli wanted to strengthen its property business in Germany and saw good opportunities in the medium term, with real estate prices in Germany lower than in other European countries.
Talks are just preliminary and no sale is expected in the short term. (Courtesy of Tire Review)
