An agreement has been signed by Pirelli for the acquisition of 100% of Hevea-Tec – Brazil’s largest independent processor of natural rubber – for an enterprise value of approximately €21m (U$22.8m). The acquisition will enable Pirelli to significantly increase its natural rubber supply in Latin America and ensure continuity in the region, and Pirelli also has plans to increase production volumes at Hevea-Tec.
The acquisition will enable Pirelli to launch new natural rubber projects focused on increasing the use of non-fossil-based materials in tires produced by the manufacturer. It will also help it to improve its control of the natural rubber supply chain, reduce CO2 emissions through local-for-local supply, and launch of new FSC certification projects.
The acquisition is subject to usual adjustments at closing, which is anticipated to take place before the end of 2023.
