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Pirelli Europe to look at steel cord partnership---steel plate expo, wire expo
11/9/2013 sheet metal expo,wire expo |
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Pirelli SpA Europe’s third largest tiremaker will look at a partnership for its steel-cord unit and will sell EUR 150 million (USD 202.5 million) in financial assets by 2017 as it adapts to shifts in global car markets.
The asset disposals, and gross cash generation of EUR 3 billion in the period, will finance EUR 1.6 billion in investments and a dividend payout of 40% of net income. The board agreed to the steel-cord division strategy to expand its international role.
The tiremaker scaled back earnings forecasts for 2013 and coming years amid a contraction in Europe’s car sales to a two-decade low and questions about economic growth elsewhere. The company has been pushing sales of its high-end products and expanding into markets outside its home region to compensate for changing demand.
Source – Bloomberg
金屬板材展-線材展-2014第十五屆廣州國際金屬板材、棒材、線材及金屬加工、配套設備展—全球三大金屬展之一 巨浪展覽 steel plate expo, wire expo
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