MILAN (BRAIN) — PIrelli announced Thursday that it would halt its operations in Russia except for security tasks.
The tire maker was one of the few companies operating in the bike market to continue to operate in Russia. The company appeared on a list maintained by Yale University’s Jeffrey Sonnefeld, who is tracking whether major brands have halted their business there. Pirelli also was the only major auto tire manufacturers that hadn't closed factories there. Sonnefeld's list said Pirelli makes 10% of its tires in Russia. It's unlikely Pirelli makes any of its bicycle tires theres.
Pirelli announced the decision in two sentences attached to a financial report Thursday: "Investments halted in Russia, excluding those linked to security. The activities of the factories will be progressively limited to finance salaries and services for employees."
