Pirelli Archives - Page 122 of 210 - Tyrepress

Known for its style, speed and performance marketing values, Pirelli & C. S.p.A. is a multinational company based in Milan, Italy, listed on the Milan Stock Exchange since 1922, with a temporary privatization period by the consortium led by the Chinese state-owned enterprise ChemChina.

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Continental ups 2011 sales and EBIT forecasts

Continental is raising its outlook for 2011, based on what it called “a very successful first half-year” that included double-digit growth rates for sales and EBIT. “We had previously forecast sales of more than 28.5 billion euros, but we are now expecting at least 29.5 billion euros. We are also targeting an adjusted EBIT margin of around 10 per cent, slightly more than the good 2010 figure of 9.7 per cent,” said Continental executive board chairman Dr. Elmar Degenhart on Friday 29 July on publishing figures for the first half of the year.

29th July 2011/by Tyrepress Editors

Pirelli anticipates demanding Hungaroring, discusses exhaust effect

Pirelli test driver Lucas di Grassi suggests the Hungarian Grand Prix could be different in character to previous seasons, with the manufacturer’s rubber once again central to the race’s result. The Hungaroring is the slowest permanent circuit on the Formula One calendar – with full throttle applied for only about 10 seconds per lap – and the action for this Hungarian Grand Prix is complicated by the risk of rain, which is forecast intermittently for the rest of the weekend. The track has been lightly modified from last year, with the gravel traps on turns three, eight and nine replaced by run-off asphalt, in the interests of safety. Pirelli anticipates a challenging race for Formula One’s drivers, and for the tyres as the drivers seek to gain advantage. The supplier suggests the chicane at turns six and seven will result in a racing line involving some kerbing, adding stress to the tyres, and the penultimate turn 13, where drivers will rely on the tyre compound to work as hard as possible in order first to pull the car through the corner and then guarantee good traction out of it, with limited downforce available.

28th July 2011/by Tyrepress Editors

Analysts on Pirelli results: ‘fewer tyres…more profits’

Following the publication of second quarter/first half 2011 financial results showing Pirelli doubled net profits year-on-year, financial analysts have lauded Pirelli “over any other auto part or tyre maker in EU.”

28th July 2011/by Tyrepress Editors

Pirelli to raise European prices 6% in September

Following the release of its second quarter financial results yesterday, Pirelli announced that it would implement a further round of price increases at the end of the summer. The latest six per cent prices hike will be effective in all European markets across the company’s car, SUV and van tyre product ranges from 1 September. The company reported that the it has had to raise prices as a consequence of the rising costs of “key raw materials, in particular natural and synthetic rubber, and oil.”

28th July 2011/by Tyrepress Editors

Pirelli doubles year-on-year net profit

Positive tyre sector demand was seen in Pirelli & C. Spa’s results for the six months ending June 30, 2011. A full 99 per cent of the Italian manufacturer’s group sales are made in the tyre sector and the company reports that results from the first half of the year “demonstrate continuous growth and improvement of all economic indicators.” In particular, a more than doubling of group net profits is attributed to ongoing efficiency programmes and, more significantly, the effectiveness of price mix actions that have seen sales increasingly concentrated in the premium segment, enabling raw material costs to be offset.

27th July 2011/by Tyrepress Editors

Tyres stolen from another lorry while driver sleeps

Thieves have raided another parked HGV and stolen its load of tyres while its driver slept. This latest attack took place at the Barton Business Park, off the A38 in Staffordshire. According to local paper the Burton Mail, the driver of a lorry was woken by a ‘rocking’ sensation in the cab and saw four or five men who, having slashed the truck’s kerbside wagon, helped themselves to Pirelli motorcycle tyres. The tyres were loaded into a white mini van, which then drove off southbound along the A38.

27th July 2011/by Tyrepress Editors

Pirelli renews WSBK supply agreement

Pirelli’s tyre supply to the FIM Superbike World Championship will continue for a further three years. Infront Motor Sports has announced that the tyre maker’s current contract for the championship has been extended from 2013 through to the end of 2015. The agreement, as has been the case since the start of the collaboration between the two companies in 2004, will also include the exclusive supply of tyres for the FIM Supersport World Championship, the Superstock 1000 FIM Cup and the UEM Superstock 600 European Championship.

27th July 2011/by Tyrepress Editors

Pirelli’s softest F1 tyres to take on hotter challenge in Hungary

The tight and twisty Hungaroring on the outskirts of Budapest will offer an increased hot weather challenge to Pirelli’s soft and super soft tyres in the Hungarian Grand Prix. The circuit’s infrequent use makes the surface dusty and slippery that Pirelli expect will offer more grip as the weekend progresses and rubber is laid down. The slippery surface is the reason for the supplier’s choice of its PZero Yellow and PZero Red tyres, with 16 tight corners and a low average speed making the circuit better suited to the softer tyres. The high temperatures are likely to represent a conservation challenge, especially since this is the first time the supersoft Red compound will be used in very warm weather.

26th July 2011/by Tyrepress Editors

KRT adds Matador and Antyre truck tyres to its range

Kings Road Tyres (KRT) has been appointed as the exclusive UK distributor in for the Matador truck and bus tyre range. The Matador brand is part of the Continental family of products and is produced in Europe. KRT’s newly acquired range includes 17.5, 19.5, 20 and 22.5-inch tyres.

26th July 2011/by Tyrepress Editors

Sibur assets go to Pirelli/Russian Technologies for 222M euros

On July 25 Pirelli, Russian Technologies and Sibur Holding signed an agreement to transfer the former Amtel-Vredestein Kirov passenger car and light commercial vehicle tyre plant to the joint venture formed by Pirelli and Russian Technologies on November 26, 2010. The transfer is to take place before November 2011; the agreement signed on July 25 also entails the transfer of further assets that should lift the joint-venture’s production capacity from seven million units – the Kirov plant’s capacity – to a total of 11 million units by 2014. The transfer of all these assets will take place in exchange for a total consideration of 222 million euros, divided on a pro-quota basis between the partners, with a payment of 55 million euros in 2011 and 167 million euros in 2012.

26th July 2011/by Tyrepress Editors

“Exactly what we were aiming for” – Hembery at German GP

Paul Hembery, Formula One tyre supplier Pirelli’s motorsport director, has hailed both the varied strategies of drivers in the German Grand Prix and race winner Lewis Hamilton’s use of the less-fancied medium compound PZero White tyre as indicative of the brand’s continued success in its first season back in the sport. The victory was Hamilton’s second of the 2011 season following 60 laps of battles for the lead. Ferrari driver Fernando Alonso was second, ahead of Red Bull Racing’s Mark Webber – who started from pole – in third.

25th July 2011/by Tyrepress Editors

Heidfeld returns to Pirelli – as guest – for the German Grand Prix

A reunion of sorts took place yesterday as part of the German Grand Prix run-up activities: Pirelli’s pre-race press event was visited by the tyre maker’s original test driver, Nick Heidfeld. Although some frowned upon the German driver’s departure from Pirelli last year to secure a driving position with Sauber Motorsport, Heidfeld was welcomed as the star guest at the Pirelli event, which was hosted by Pirelli Germany managing director Michael Schwobel and Pirelli’s motorsport director Paul Hembery.

22nd July 2011/by Tyrepress Editors

Two further Pirelli promotions

In addition to the appointment of Rafael Navarro III to the role of vice-president, Communications and Media Relations, as reported on tyrepress.com earlier today, Pirelli has announced to further promotions in its North American operations.

21st July 2011/by Tyrepress Editors

Cardano chosen to manage Pirelli UK pension fund

The trustees of Pirelli’s UK pension fund have appointed Dutch company Cardano fiduciary manager of its £600 million assets. Cardano was selected due to its focus on improving the scheme’s funding ratio with less volatility that the current investment strategy implemented by Mercer. This approach is more closely aligned with the trustees’ main objective, they said.

21st July 2011/by Tyrepress Editors

Navarro to lead Pirelli NAFTA communications

Pirelli Tire North America has appointed Rafael Navarro, III to the newly formed post of vice-president, Communications and Media Relations. In his new position, Navarro is responsible for all internal and external communications for Pirelli in the NAFTA region. His job description involves integrating public relations and working closely with the marketing and motorsport departments of all three country offices, overseeing brand activity. Additionally, he will continue to manage key influencer relationships in the region.

21st July 2011/by Tyrepress Editors