Pirelli RE becomes Italy's leading facility management firm

Pirelli RE has announced the closing of the purchase of Ingest Facility, a facility management company formerly part of Fiat Group and mainly active in Italy and Poland. The deal, which has got the green light by Italian and Polish antitrust authorities, is worth a total of EUR 50.3 mln.

Revenues for Pirelli's facility management operations in 2007 are forecast to reach EUR 400 mln following the transaction. 'Pirelli RE's facilities management has seen sales grow at a compound annual growth rate of 40% in the last five years,' the company said. Pirelli RE Facility Management has become Italy's leading firm and is planning to create Europe-wide activity in the sector. 'The aim is to double the sales and EBITDA in the next three years,' it said.

One of the first steps to be taken by the company is integrating the facility management business of DGAG in Germany it acquired last November, and Pirelli Pekao RE in Poland.