Aeolus Discusses Position with Pirelli, Plans to Become Global Competitor
During its 50-year celebration in Jiaozuo, Chinese tiremaker Aeolus Tyre Co. discussed plans to reposition itself as a global tire leader and utilize its parent company China National Chemical Co.’s (ChemChina) takeover of Pirelli & C. SpA. Aeolus kicked off the anniversary celebration with its 50 Anniversary Conference at the Taiji gymnasium and welcomed clients
Pirelli Calendar Strays from Tradition
This year’s Pirelli Calendar strays from its tradition of using models and focuses on women influencing today’s world. The 2016 calendar was shot by famed photographer Annie Leibovitz and features intimate portraits of 13 women who each impact the world in different ways. “I started to think about the roles that women play, women who
Pirelli OE on Audi A4
Pirelli has been selected as original equipment provider for the new Audi A4 saloon and Audi A4 Avant. The Pirelli Cinturato P7 summer tire will shoe some models of the Audi A4 and A4 Avant in the following sizes: 205/60R16 92W, 225/50R17 94Y, 225/50R17 98Y XL, 245/40R18 93Y, 245/40R18 97Y XL, 225/50R17 98Y XL. Additionally, the
The Evolving Tire Landscape
Thirty years ago it was a much different world. Fax machines had just become a thing. There was no Internet, no such thing as a cellphone let alone a smart one, and the first PCs were appearing in offices. In the tire universe, we were still busy radializing consumer and truck tires; OTR and agricultural
ChemChina’s Pirelli Buy-out Advancing
China National Chemical Corp. ’s (ChemChina) complete buy-out of Pirelli & C. SpA is in progress after the closing deal was passed Aug. 11, according to Tyres & Accessories. With the new deal, ChemChina leads the buy-out, but other businesses will also own Pirelli shares. ChemChina, businesses owned by CEO Marco Tronchetti Provera and the
Pirelli Sees Positive First Half
Pirelli & C SpA reported roughly €3.17 billion in sales, a 6.4% increase year-over-year, for the first half of 2015. The company also reported its operating income (EBIT) increased 4.8% to €446.6 million and net profit rose 10% to €211.4 million. The company reported an overall 10.2% increase in its consumer tire business, but a
Pirelli Wins Suit Against Phone Co.
Pirelli has won a trademark infringement lawsuit against Chinese mobile phone manufacturer Huawei, Tyres & Accessories reports. A court ruled that while Huawei may still launch an upcoming product under the “P8” name, it can no longer use a logo that Pirelli claims to closely resembles its trademarked ‘elongated P’ logo, T&A said. In 1980,
Pirelli, ChemChina Agree to Closing Date
All the necessary antitrust and regulatory approvals for China National Chemical Corp.’s (ChemChina) majority share purchase of Pirelli & C. SpA have been obtained and the deal will be complete on Aug. 11. First announced in March, ChemChina has agreed to purchase Pirelli’s majority shares from holding company Camfin for roughly $7.6 billion. Under a
Ex-Pirelli Managers Appealing Sentences in Asbestos Case
An Italian court convicted 11 former Pirelli managers in 24 asbestos-related deaths, according to Tyres & Accessories. The 24 employees, employed at the tiremaker’s Bicocca, Italy, plant in the 70s and 80s, died from tumors said to have developed due to exposure to asbestos in the facility. The managers’ lawyers intend to appeal the charges,
Pirelli Plant Celebrates Milestone
Pirelli Tire North America’s Mexic0 plant has reached production goals ahead of schedule. The plant, located in Silao, Guanajuato, Mexico, has produced 5 million tires. “We were able to produce five million tires in record time, thanks to the work of our team, which reflects the quality and commitment not only to Pirelli, but also
EU Regulators Approve Chinese Takeover of Pirelli
China’s state-owned National Chemical Corp (ChemChina) took over Italy’s Pirelli, the fifth-largest tire maker, after European Union antitrust regulators approved its proposal on Thursday, reports Europe Online Magazine. Through its subsidiary, China National Tire & Rubber, ChemChina produces radial and off-road tires. “The proposed transaction [will] raise no competition concerns as the market share increments are modest,
Pirelli Shareholders Pursue Higher Price
A small group of Pirelli shareholders have formed an alliance in order to push for a higher offer price from China National Chemical Corp. (ChemChina), Tyres & Accessories reported. Italian newspapers are reporting that shareholder Malacalza may join Paulson and other hedge funds in order to achieve its end, T&A said. These funds account for