Italian real estate company Pirelli Real Estate has postponed the announcement of its three-year business plan to the second half of 2008 because of uncertainty in the market. 'Trusting that a clearer picture will emerge in the second half of the year allowing better guidance, the new board of directors has announced that the review of the new industrial plan will take place in the second half of 2008', Pirelli RE said in a statement. Release of the 2008-2010 plan had initially been scheduled for May 8.
Italian real estate company Pirelli Real Estate has postponed the announcement of its three-year business plan to the second half of 2008 because of uncertainty in the market. 'Trusting that a clearer picture will emerge in the second half of the year allowing better guidance, the new board of directors has announced that the review of the new industrial plan will take place in the second half of 2008', Pirelli RE said in a statement. Release of the 2008-2010 plan had initially been scheduled for May 8.
'We're working on the three-year plan, but we are also trying to understand how the crisis is turning out. We will present it in the second half of the year', news agency Reuters reported CEO Carlo Puri Negri as saying during a board meeting.
Shares in Pirelli RE were down 4% at EUR 22 in early trading on Tuesday.
