Pirelli intending to address high-profit segments - updated

London-- Pirelli is intending to attack high premium segments in the industry, and expects the proportion of tyres sold to the OE channel to reduce to 20 percent from 25 percent currently. At a presentation of its industrial plan to 2015, the company said it intends to become the global premium leader.

The company said it intends to continue with premium car makers, both for the prestige and to understand what the car makers need over time.

In particular the company said it expects to win 20 percent of the Russian tyre market when the joint ventures with Russian Technologies are closed.Tronchetti Provera said the comapny declined to comment on the second joint venture planned to make tyres aimed at the low-to mid segment of the Russian market. More expected on the futire of that venture in the next hour.

 In the Russian market, Pirelli expects to increase significantly its penetration in the winter tyre segment, addressing the central European and Nordic regions.

To deliver this, the company has an ambitious capital expenditure prgramme. It expects to invest euro 2200 million between now and 2014 (excluding Russia) , adding 32 million units of annual capacity. Of this, 8 million units will be added in Russia. In its previous plan, Pirelli said it would add 26 million units by 2015.

More to come as the presentations continue.