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Investing.com -- Italian tire manufacturer, Pirelli & C (BIT:PIRC). SpA, plans to adhere to its debt reduction goals for this year, despite potential US tariffs that could impact its North American operations, according a Bloomberg report on Monday.
Pirelli earns approximately 25% of its revenue from North America, primarily manufacturing its tires for the US market in Mexico, Europe, and Brazil.
Although there is a possibility that the tariffs might be avoided, Pirelli is contemplating increasing prices to counterbalance most of the US duties, the sources said, while requesting anonymity due to the private nature of these considerations. The depreciation of the Mexican peso and the euro, the primary currencies for its production, is also expected to safeguard the company’s profitability, they added.
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