PIRELLI: PRELIMINARY AGREEMENT SIGNED WITH COMOLATTI GROUP AND CAMPNEUS TO INTEGRATE ABOUCHAR TYRE POINTS OF SALE WITH THE PNEUAC NETWORK IN BRAZIL
PNEUAC TARGETS SALES OF OVER 1.3 BILLION REAIS (APPROX. 400 MILLION EURO) FOR 2014
THE PNEUAC NETWORK WILL REACH 133 POINTS OF SALE ACROSS THE COUNTRY
THE OPERATION WILL STRENGTHEN PIRELLI'S LEADERSHIP
Pirelli, the Comolatti Group - through the Distribuitora Automotiva company, owner of the Abouchar tyre sales network - and Campneus have signed a preliminary agreement for the integration of the Abouchar points of sale with the Pirelli Pneuac network. With this agreement, Pneuac, which in 2012 acquired control of Campneus, the goal is to exceed sales of 1.3 billion reais (approx. 400 million euro) in 2014. The operation's goal is to reinforce Pirelli's leadership on the Brazilian market through greater direct control of the commercial network, as had already been defined in the group's last Industrial Plan. With this initiative, Pirelli will focus on areas with the greatest growth in the Premium segment, reinforcing its relationship with the end consumer and increasing the number of Pneuac points of sales from 104 to 133. With this agreement, Pirelli, Distrbuidora Automotiva will acquire a stake in Pneuac from Pirelli, as well as confering to Pneuac the Abouchar points of sale. At the conclusion of the operation, Pirelli, Distribuidora Automotiva and the Faria da Silva family, minority stakeholder in Campneus, will be represented in the company capital of the new Pneuac, in which Pirelli will maintain the majority and Ivo Giunti Yoshioka, head of Pneuac for Pirelli since 2009, will assume the role of CEO. Established in 1927 and acquired in 1981 by the Comolatti Group, Abouchar is one of the main re-sellers in Pirelli's official sales' network in Brazil, which has approximately 600 points of sale throughout the country. With 29 points of sale and 9 distribution centres located in the states of San Paolo, Minas, Gerais, Pernambuco, Bahia, Espirito Santo, Santa Catarina, and Rio Grande do Sul, Abouchar markets the entire range of tyres, as well as offering different automobile services, and will continue to maintain the same name at the conclusion of the operation. The agreement will be submitted for approval to CADE, the Conselho Administrativo de Defesa Economica (Brazilian antitrust). PIRELLI IN BRAZIL With over 80 years' commercial presence in Brazil, Pirelli has 5 factories for the production of the entire range of tyres in: Gravatai (RS), Campinas (San Paolo), Santo Andre (SP), Sumare (SP) and Fiera de Santana (SP). The company employs about 11,000 people in its Brazilian plants and has its own testing grounds in the city of Sumare for the activities of Research and Development. The commercial structure is composed of almost 600 official Pirelli re-sellers across the country, including its own Pneuac-Campneus re-sale network, consisting of 104 points of sale in 16 Brazilian states. COMOLATTI GROUP With a 56 year history and over 4,000 employees, the Comolatti Group has a strong presence in the distribution of auto parts through the Distribuidora Automotiva company, with 22 distribution centres in the main Brazilian cities. In the vehicle sales sector, the Comolatti Group operates with the concessionaires Tiete (Man, VW) and Cofipe (Iveco), which are among the leading re-sellers on the market for each marque. The Comolatti Group is also present in the real estate sector (Bernina) and the food sector (Terrazzo Italia).