Pirelli sells steelcord business to Bekaert for 255 mln euros

Newswire

MILAN, Feb 28 (Reuters) - Italian tyremaker Pirelli said on Friday it had agreed to sell all of its steelcord business to Belgium's Bekaert in a deal worth around 255 million euros ($348.88 million). In a statement, Pirelli said its exit from the business would allow it to focus on its higher-margin premium tyre business. The deal includes all five Pirelli steel cord facilities in Italy, Turkey, Romania, China and Brazil. Closing is expected in ...

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