Pirelli putting wheels in motion for a slowdown

F1 OFFICIAL TYRE Supplier Pirelli is bracing itself for slower sales and the effects of global recession. The Italian manufacturer is more exposed than many to Eurozone risks and has a well advanced contingency in case of further market and currency turmoil. The credit crunch and recession of 2008 saw new car and commercial vehicle sales stall and the company’s CEO Marco Tronchetti is preparing for the worst once again. Determined to protect the group which has plants in South and North America, the Middle East, Russia and China, Tronchetti claims to be able to cut 15% of costs quickly. Pirelli had learned from the recent recession and increased its use of temporary workers to give them more room in the event of a repeat of the crisis.