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PIRELLI ACQUIRES 60% OF THE BRAZILIAN DISTRIBUTION NETWORK “CAMPNEUS” TO STRENGTHEN ITS MARKET LEADERSHIP

Pirelli announces that it has signed an agreement with the Faria da Silva family to acquire 60% of the company equity of Campneus, one of Brazil’s major tyre distribution networks, for a value of approximately 54 million reais, equal to 22.5 million euro, and subject to adjustment on the basis of the asset situation on the closing date.

In line with the 2012-2014 industrial plan presented in London last November, with this operation Pirelli intends to strengthen its leadership in the Brazilian market both in retail and wholesale distribution, focusing on the higher growth Premium segment and increasing the number of Pirelli owned (Pirelli Pneuac) points of sale from the present 48 to 102.

The 54 Campneus points of sale included in the agreement are already part of Pirelli’s distribution network in Brazil, which counts over 600 points of sale in total. The Campneus stores, which will continue under the same brand even after the closing of the operation, are located in the states of São Paulo, Minas Gerais, Paraná, Mato Grosso do Sul, Santa Catarina and Rio Grande do Sul. They sell the complete range of Pirelli tyres for cars, light-trucks, trucks, buses and agricultural machinery, as well as for earth moving and off road equipment.

The agreement is subject to approval by CADE, the Conselho Administrativo de Defesa Econômica brasiliano, and finalization is expected at the end of the first half of 2012.

CAMPNEUS

The first Campneus point of sale was opened in the Brazilian city of Campinas on September 19th, 1975 and the following year extended to three resellers in the sates of São Paulo and Minas Gerais. At present, the company employs around 600 people in seven Brazilian states.

PIRELLI IN BRAZIL

With over 80 years’ commercial presence in Brazil, Pirelli has five tyre production factories in the country: in Gravataí (RS), Campinas (SP), Santo André (SP), Sumaré (SP) and Feira de Santana (BA). The company employs around 9,000 people in its Brazilian plants and has its own testing grounds in Sumaré city for its R & D activities. As well as official Pirelli resellers, the commercial structure in Brazil includes the Pirelli owned Pneuac chain with 48 points of sale in 14 states.

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1 news Monday, April 16th, 2012