Fiat SpA Chief Executive Officer Sergio Marchionne spoke out against deeper budget cuts in Europe as Renault SA CEO Carlos Ghosn urged government spending to revive the region’s anemic sales, which he forecast won’t recover for another three years.
Ambienta SGR SpA, a private-equity investor in resource and energy efficiency, plans to sell its stake in green utility ICQ Holding SpA in the latest sign the industry is losing funding as governments withdraw support.
Ambienta SGR SpA, an investor in resource and energy efficiency, plans a 300 million-euro ($406 million) fund to tap demand for energy-saving natural-gas burners and generators as U.S. output of the fuel grows.
Pirelli & C. SpA , Europe’s third- largest tiremaker, will sell its broadband communications unit as part of a reorganization that includes a spinoff of real- estate assets, Chairman Marco Tronchetti Provera said.
Ambienta SGR SpA plans to set up an environmental fund with the aim of trumping the 217.5 million euros ($276 million) it raised in October 2009 from investors including Intesa Sanpaolo SpA and a Macquarie Group Ltd. unit.
Pirelli & C. SpA Chairman Marco Tronchetti Provera said the tiremaker will proceed with the separation of the Pirelli & C. Real Estate SpA unit even as markets remain volatile, speaking to reporters in Milan today.
Pirelli & C. SpA Chairman Marco Tronchetti Provera said that Pirelli & C. Real Estate SpA, which the tiremaker is in the process of separating, “doesn’t need partners,” speaking to reporters in Venice today.
For the average car driver, tires are pretty much all the same, and replacing worn rubber is a matter of relying on recommendations from a repair shop. That’s changing in Europe as new rules help consumers decide whether higher-priced Michelins are worth it.
Pirelli & C. SpA, the world’s fifth- largest tire maker, can survive the European debt crisis with “good results” because only 40 percent of its sales are generated in Europe, Financial Times Deutschland reported today, citing Pirelli Chief Executive Officer Marco Tronchetti Provera.