Pirelli ‘disposes’ its Venezuelan tire plant to South American investors

 

Milan – Pirelli & C. SpA has “disposed” its passenger tire plant in Guacara, Venezuela, to a consortium of South American entrepreneurs and a company called Sommers International.

Pirelli did not identify the investors nor disclose any financial information, but did say the disposal would have no financial effects on the group. The agreement calls for employment continuity at the 28-year-old factory.

In late August, Pirelli ceased operations at the plant, claiming that it would not accede to paying a wage increase decreed on 17 Aug by…

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