Aeolus becomes Prometeon Tyre Group

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On 13 April TP Industrial Holding – a company controlled by CNRC (the tyre division of ChemChina) – confirmed that agreements have been signed with CNRC, Aeolus and High Grade (HK) Investment Management Limited for the full integration of its controlled Industrial activities with the other assets of the sector belonging to CNRC, including Aeolus and Guilin Beili. The formal finalization of this integration is expected by the end of the year, subject to the approval by the relevant authorities, with the contribution into Aeolus of the 52 per cent stake held in Prometeon Tyre Group (formerly Pirelli Industrial).

As a result Aeolus, a company listed on the Shanghai stock exchange, is expected to take on the new English name of “Prometeon Tyre Group Co., Ltd.” upon final completion of the transaction.

Read the source article at Tyrepress

Pirelli Introduces the “66” Promotion

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Pirelli Introduces “66” Sales Promotion on NIGHT DRAGON™ or MT 66 ROUTE™ Model Motorcycle Tires Today, Pirelli unveiled a special, limited-time promotion that offers motorcyclists the chance to save big when purchasing a set of street or road racing tires from participating dealers across the nation. Riders can score a $66 prepaid card when purchasing a set (a front …

Read the source article at cycleworld.com

Pirelli continues splitting industrial and consumer tire lines

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In parallel with presenting its full-year 2016 results, Pirelli has revealed further details of its complex ownership structure and how it is splitting its consumer and industrial tyre business into two separate entities.

The latest news is that, as of March 2017, TP Industrial holding (which owns the newly renamed PTG, which was called Pirelli industrial until recently – more on that later) has been separated out from Pirelli’s consumer tyre business. In practice this means the assignment of TP Industrial holding to Marco Polo, Pirelli’s sole shareholder. According to Pirelli, the assignment will “ensure that Pirelli and TP Industrial can pursue their own independent paths to growth and independently developed strategies”.

Another key development is the 600 million euro refinancing of PTG with a 3 year duration (which may be extended for two additional one-year terms). This new refinancing deal has reportedly been agreed and signed with major global banks in a bid to ensure Pirelli Industrial’s financial independence. Around 50 per cent of PTG’s refinancing will be used to repay the debt against Pirelli, accelerating its deleveraging process.

Put all this together and we can now see that both Pirelli units remain owned by Marco Polo. However, the industrial and consumer units are truly independent in legal terms. Marco Polo is owned by CNRC/ChemChina (which holds 65 per cent), Camfin (which holds 22.4 per cent) and Long Term Investment (which holds 12.6 per cent). See diagram one for details of how Pirelli’s consumer and industrial operations have been split during March 2017.

Read the source article at Tyrepress

Pirelli finishes 2016 on a high note

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Milan, Italy – Pirelli managed year-on-year revenue-growth of 1.6%, to €6.0 billion, for the full financial year 2016, the Italian tire-maker announced 31 March.

Earnings (EBITDA before non-recurring items) grew 2.4% to €1.18 billion, driven by “solid organic growth”. This was backed by a strong performance at its premium tire segment which Pirelli said now accounts for 64% of consumer tire sales.

Read the source article at European Rubber Journal

Pirelli partners with historic car club

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BRUSSELS — The Fédération Internationale des Véhicules Anciens (FIVA), the world association for historic car clubs, has made Pirelli Tyre S.p.A. its “official tire partner,” a designation that includes Pirelli’s assuming the role of global tire technical adviser to FIVA partner organizations.

The “multi-year” agreement coincides with an increased interest in the historic car sector by Pirelli, as exemplified by its continually expanding “Pirelli Collezione” product range for classics.

FIVAs primary objective is to encourage the safe road use of cars and other vehicles that are more than 30 years old, Pirelli said, for the benefit of their owners, enthusiasts and the public.

Read the source article at Tire Business

Here are Pirelli’s new OTR, truck and ag tire lines

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Pirelli has unveiled its new truck, agricultural and off-the-road tire lines at the Mid-American Trucking Show in Kentucky.

Pirelli announced last year it planned to enter the commercial truck tire market and gave the industry its first glimpse at their initial range at MATS, the world’s largest annual heavy duty trucking show. Here’s everything Pirelli has told us about their North American range.

  • PENTATHLON D — a premium long haul drive tire
  • G:85 SERIES FOR ON/OFF ROAD
  • FH:01 MOTOR COACH
  • FORMULA DRIVER II ALL POSITION RIB

Read the source article at Traction News

Pirelli Extends Custom Colors to its Prestige Tires

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In the era of personalization, Pirelli engineers have developed materials that allow for vivid colours on tires.

Introduced last week at the Geneva Auto Show, Pirelli dealers can now match tire sidewall lettering to the taste and style of the customer, with colored edition tires for the P Zero and Winter Sottozero lines in the prestige sector, from 19-inch size and up.

Read the source article at Tire Review

Europe Racing Tires Market Report 2017

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This report studies sales (consumption) of Racing Tires in Europe market, especially in Germany, France, UK, Russia, Italy, Spain and Benelux, focuses on top players in these countries, with sales, price, revenue and market share for each player in these Countries, covering Michelin, Goodyear, Bridgestone, Continental, Hankook, Pirelli, and Cooper.

Read the source article at openPR.com

Pirelli Reinvents the Tire

Pirelli is introducing two innovations at the Geneva Motor Show this year.

The first is a coloured edition P Zero and Winter Sottozero tires, engineered to satisfy the increasing demand for personalization from prestige and premium tire clients.

The very first coloured edition P Zero tires have already made their debuts in the last few months as concepts with Pagani, Lamborghini and McLaren, and this summer they will be available for Ferrari, Aston Martin, Porsche and Bentley. The coloured edition will then be expanded to premium models from the world’s top manufacturers.

The second innovation is Pirelli Connesso: a sensor embedded in the wall of the tire that communicates with the driver via an app. It provides data about tire pressure and temperature even when the car is at rest, plus static vertical load, tire wear, number of kilometres covered for each tire, and, in a future version, the estimated remaining life in kilometres.

It also acts as a remote pressure gauge when tires are being inflated, providing a true and accurate reading without having to wait for the tires to cool down.

Coloured edition tires are available to pre-order straight away for the P Zero and Winter Sottozero. Pirelli Connesso will initially be available in the United States (summer 2017), and later in principal markets within Europe and the Far East.

Read the source article at Autosphere.ca

Pirelli debuts cloud-based tire-monitoring system

Geneva, Switzerland –  Pirelli Tyre SpA has developed a digital platform that integrates tire operating data available through its cyber technology with telecommunications technology to deliver real-time tire performance feedback to the driver through a mobile phone app.

The platform, dubbed “Conesso,” is available initially to owners of cars fitted with P Zero and Winter Sottozero tires, which are equipped with Pirelli’s sensor-driven cyber tire technology.

Pirelli unveiled the technology — along with the market availability of its custom colour-sidewall option — at the 2017 Geneva International…

Read the source article at European Rubber Journal