Euro area tire maker benefits from increased Brazilian sales

The Economist reports on a Euro area tire maker that benefits from increased sales in emerging markets, in particular, Brazil:

“Pirelli reckons its narrower focus on tyres, especially premium ones, will prove an advantage as it expands in emerging markets. Half of its business is already in the emerging world—“more than any other of the top five tyremakers”, says Francesco Gori, head of Pirelli’s tyre division. Its salvation during the recent crisis was Brazil, where it is the leading brand. Pirelli’s worldwide sales dropped by only 2.9% compared with the industry-wide average of 10%, Mr Gori says.”