Pirelli to invest US$135mn on restructuring in Brazil

Italian tyre company Pirelli is planning to invest 120mn euros (US$135mn) in the Brazilian states of São Paulo and Bahia from 2019-2021.

The investment will be used to modernize two factories, one in Campinas, São Paulo (pictured) and the other in Feira de Santana, Bahia. To ensure competitiveness and maximize efficiency in the face of today’s market difficulties, the company will be closing down its factory in Gravataí, Rio Grande do Sul state.

Although the expansions in São Paulo and Bahia will generate 300 new jobs, the close down in Rio Grande do Sul should result in 900 layoffs.