Pirelli sticks to guidance after Michelin cut


MILAN, April 29 (Reuters) - Italian tyre maker Pirelli & C said on Tuesday it was sticking to its 2008 forecasts despite larger French peer Michelin's reduction in guidance due to higher raw materials costs. Pirelli, a holding company that makes the bulk of its sales from its tyre business, forecast in March that its results would remain flat this year. "I confirm the results are expected in line with 2007, which, given the price trend of raw materials and what is happening to ...

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