Pirelli 'Ceases Activities' In Venezuela, Sells Tire Factory 

Pirelli ‘Ceases Activities’ In Venezuela, Sells Tire Factory 

In a statement on its website, Pirelli announced the “disposal” of its car tire factory in Venezuela, located in the city of Guacara in north-central Venezuela. It also has ceased all activities held in the country.

From Tire Review

Pirelli & C. S.p.A has sold its tire factory in Venezuela and ceased all other operations in the country under severe economic crisis.

In a statement on its website, Pirelli announced the “disposal” of its car tire factory in Venezuela, located in the city of Guacara in north-central Venezuela. It also has ceased all activities held in the country.

The operation follows the de-consolidation of Pirelli’s Venezuelan subsidiary, which took place in December 2015. The move to abandon its operations in Venezuela “has no financial effects on the group,” Pirelli said.

The agreement, which calls for employment continuity, was reached with a consortium of South American entrepreneurs and the company Sommers International, in the capacity of buyer. Pirelli said it would like to thank its collaborators and clients for its 28 years of activity in the country and wishes the new management every success.

Venezuela’s economy is in freefall, the BBC reports. Hyperinflation, power cuts and food and medicine shortages have driven millions of Venezuelans to flee the country.  Last June, Pirelli suspended production at its Venezuelan, and Bridgestone Corp. sold its subsidiary in the country in May 2016.

You May Also Like

NRS Brakes Offers Galvanized Brake Pads for F-150 Lightning

The brake kits cover both front and rear applications for almost 1.6 million vehicles.

NRS Brakes has added brake kits for the 2021-2023 Ford F-150 pickup, including the first F-150 Lightning electric pickup truck. The brake kits, which cover both front and rear application for the almost 1.6 million vehicles covered, include the company’s premium galvanized brake pads as well as abutment hardware and caliper piston cushions.

Raybestos Adds New Friction, Rotor, Hydraulics Coverage

The new part numbers cover more than 19 million vehicles in operation (VIO).  

Opus IVS Announces Release of Giotto Software

Giotto release delivers customer requested content and features.

Adient 2022 Sustainability Report Highlights Improvements

The report details the company’s progress on ESG goals and highlights sustainable product innovations.

Rotary’s New XA12 Alignment Scissor Lift

Shops can offer alignment services with bay space to spare, and techs can perform alignments on a wider range of vehicles.

Other Posts

Volvo Venture Capital Invests in Autonomous Trucking Tech

Waabi is developing next-generation artificial intelligence technology to solve autonomy at scale.

LIQUI MOLY Generates €800M in Sales in 2022

The company says in 2022 it was able to compensate for global challenges through its strategy and quick action. 

First NEXUS Academy Held At AVI Technician Conference

More than 250 technicians attended classes on Jan. 13-14, eager to learn and sharpen their automotive technical knowledge. 

Prospects for the Brazilian & South American Auto Industry

Julian Semple, consultant and manager of CARCON Automotive in Brazil, discusses 2022 results and prospects for 2023.