The Tire and Rubber Association of Canada News
Milan, Italy – Pirelli shareholder Camfin is looking to raise its stake in the Italian tire maker, which has seen its share-price fall by more than 30% over the last three months.
Camfin board of directors authorised, on 20 March, the acquisition of shares up to a maximum of 1.5% of Pirelli’s share capital, by the end of July.
Pirelli’s shares hit an all-time low of €3.50 on 9 March in Milan as global stock markets grappled with the outbreak of Covid-19.
Pirelli, in light of the present COVID-19 virus, says it has decided to cancel the production and launch of the 2021 Pirelli Calendar.
In the context of other initiatives already undertaken by the company, “The Cal” project will donate 100,000 euro to the fight against and for research into Coronavirus.
Pirelli Tire North America has announced that it will increase prices in the US for car and light truck tyres. The price increase is set to take effect from 6 April 2020.
On the evening of 10 March, Pirelli announced that one of the employees at its Turin factory has tested positive for Covid-19. The third statement in two days from Pirelli said that company was informed by the family of an employee at its Settimo Torinese factory, with the subsequent confirmation of healthcare authorities. In response, the company has slowed down production, but says that it continues to guarantee supply to clients:
Milan, 9 March 2020 – In light of the latest provisions from the Italian government, Pirelli took immediate steps to facilitate the continuity of all its business activities, which are therefore guaranteed.
There are no impacts on production activities. Today the Italian market accounts for 5.8% of the Pirelli group’s total revenues and Car tyre production in Italy represents 7.5% of the group’s total. There are 3,247 employees in Italy.
New York – Pirelli & C SpA has hired automotive industry veteran Pietro Berardi to become CEO of its North American activities, effective 1 March.
Berardi is tasked with strengthening Pirelli’s command of the market and its development, while executing strategies and commercial policies that consolidate the tire maker’s “leadership in the premium and prestige segments,” the company said 17 Feb.
MILAN (Reuters) – Italian tiremaker Pirelli (PIRC.MI) will focus on its premium products and cost-cutting measures to drive a gradual increase in core profit margins over the next two years. Announcing its strategic plan after reporting annual results on Wednesday, the group said its margin on adjusted earnings before interest and tax (EBIT) would rise to between 18% and 19% through 2022, up from 17.2% last year.
MILAN — Pirelli & C. S.p.A. has added a dynamic driving simulator at its research and development center in Milan in an effort to reduce tire development time and facilitate iterations.
Pirelli has announced that its new P Zero Experience supercar track day, run in association with Salon Privé, will take place between 2 and 3 June 2020 in the UK. The event features driving, premium hospitality and of course and exquisite cars. Initially launched in France 10 years ago, the events now take place at Italy’s famous Mugello circuit, the Yas Marina track in Abu Dhabi and the famous Hockenheimring in Germany. This year the home of British motorsport, Silverstone, joins the line-up.
Pirelli announced an update to their range of All Season tires designed for the North American touring market with the introduction of its new Cinturato P7 All Season Plus II.
Cinturato P7 All Season Plus II presents a new tread compound and an optimized footprint for improved behavior on wet surfaces. In particular, the new Cinturato P7 All Season Plus II showed an improved wet stopping distance.