Between 2011 and 2015 Pirelli will invest 2.4 billion of euro (2.2 billion excluding Russia) of which 600 million euro already in 2011.
In line the strategy of becoming Premium global leader, Pirelli will:
- accelerate the Premium capacity development; by 2015 Pirelli we’ll count on 32 million of additional capacity (8 million from Russia) compared with the 26 million targeted last year
- invest more on Mix and Quality (26% of total Capex).
Besides Russia, the new projects will be the new plant in Mexico, the expansion of the business in Indonesia - through the JV with the Astra group (120 mln $ the total investment of the JV between 2012 and 2014) - and the truck plant in Agentina (around 300 mln $ between 2012 and 2015).
71% of capex will be devoted to the Consumer business (66% CAR e 5%Moto) reaching a total capacity of 74 mln of tyres by the end of 2015, 84 million including Russia.
The remaining 29% of capex will be used for the industrial business industrial.
Investments for the year 2012 are seen at below 500 million euro (prior target approximately 500 million euro) and will be predominantly destined to the expansion of Premium capacity, and quality and mix improvements.