MILAN—Sustainable natural rubber production is coming a little bit closer to home for Pirelli & C. S.p.A.
The Italian tire maker July 5 said it will acquire Jaci, Brazil-based natural rubber producer Hevea-Tec. Founded in 1999, Hevea-Tec is considered the largest independent NR processor in Brazil.
And Pirelli already has plans to increase Hevea-Tec's production capabilities, though it did not elaborate on what that would entail.
According to its website, Hevea-Tec's natural rubber processing infrastructure spans more than 365,000 square feet, with "a modern layout and a high degree of industrial automation."
The Pirelli deal, worth about $22.8 million, is expected to close later this year. It is subject to the antitrust authority approvals. Further details about the acquisition were not disclosed.