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Thursday, January 26, 2017

Pirelli pausing production in Venezuela

 Currency issues have hindered Pirelli’s efforts to obtain raw materials for its factories in Venezuela, and as a result the company will halt production there on 30 January. Reuters writes that operations will stop for a fortnight, restarting on 13 February using raw materials provided by another company division. The tyre maker’s local operation, Pirelli de Venezuela, was deconsolidated in 2015 as a result of economic problems linked to the country’s devalued currency. More…

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