Pirelli Says It Will Consider IPO - Tire Review Magazine

Pirelli Says It Will Consider IPO

(Akron/Tire Review) Pirelli & C. SpA has confirmed that it is considering taking its Pirelli Tyres unit public with an initial public offering (IPO) of stock.

That is just one option the company’s board of directors is considering as it works to “undertake procedures aimed at arriving at a better valuation of the activities of its tire division.”

The board directed chairman Marco Tronchetti Provera, and managing director Carlo Buora to “identify the best possible solutions for the realization” of increasing the company’s total value. This would include a possible listing on the Milan Stock Exchange, though Pirelli officials said the parent would retain majority ownership in the tire group.

“The conditions of the main markets and segments in which the group’s tire sector is active continue to be favorable, especially in the high-performance segment where the Pirelli brand is recognized as a world leader,” the company said in an official statement. “This constitutes the basis for further growth compared with that registered by Pirelli Tyres in recent years.”

You May Also Like

Sally Thomas taps into her tenacity to build on the success of her family’s tire business

Today, Sally Thomas and her brother, Bryan, operate eight retail stores, two commercial locations, three wholesale distribution warehouses, a Mighty Auto Parts franchise, and an e-commerce business.

sally-thomas-1400-REV

Sally Thomas is a second-generation tire dealer with ambition, grit, and heart for the tire industry. Her father, Paul, founded the business in 1981 out of the driveway of their family home, and he and his wife, Sandra, soon blossomed the company into a full-blown tire and service location in Asheboro, North Carolina.

Hankook Tire America recalls select Kinergy GT tires

Certain Kinergy GT tires, size 235/60R18H H436, are missing the missing the four-digit week and year code mark.

Recall
Radar Tires adds six SKUs to Renegade-X M/T tire line

The company is now offering 16 SKUs for this line, which was originally launched with 10.

Radar-Renegade-X-4
Three facts about modern electric power steering

EPS has enabled key vehicle advancements like stop/start systems, hybrids and advanced driver assistance features or ADAS.

TRIB’s new website offers tailored services for members

One of the highlights of the redesigned website is the introduction of the retread environmental savings calculator.

TRIB-new-website

Other Posts

RNR Tire Express to give away NASCAR tickets for Father’s Day promotion

The RNR team will be taking submissions until midnight on Sunday, June 16.

RNR Tire Express
How Phaelona Bradley champions customer service and breaks barriers

Phaelona’s commitment to making those around her better and improving customer relationships is helping to shape a customer-centric culture at Yokohama.

3633-Phaelona bradley
Kevin Speroff’s passion for learning and analytical approach make him an industry asset

Kevin approaches everything he does with the mindset of the eternal student, constantly looking to develop himself.

Even in the face of adversity, Randy John proves he will remain resilient

Randy leverages his expertise and customer relationships to strengthen Double Coin’s brand presence.

3633-Randy john