Pirelli Archives - Page 139 of 213 - 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.

Tag Archive for: Pirelli

Nick Heidfeld Tests Pirelli F1 Tyres at Tuscany’s Mugello Circuit

Former BMW Sauber driver Nick Heidfeld appears to have been given the permanent job of Formula One tyre tester for Pirelli, as motorsport news sources report that he took to the Mugello Circuit near Florence in the manufacturer’s home country. Heidfeld will pilot the 2009 Toyota TF109 around the Italian circuit over the next two days, while reports suggest the tyre-maker is to travel to the Jerez, Monza and Paul Ricard circuits too as Pirelli readies its rubber for the start of the 2011 season when it takes over from Bridgestone as F1’s exclusive tyre supplier.

16th August 2010/by Tyrepress Editors

Will 2012 BMW F10 M5 Roll Out on Pirelli Rubber?

The much-anticipated BMW M5 (based on the company’s F10) is due to be unveiled at the 2011 Frankfurt International Motor Show between 15 and 25 September, but eagle-eyed bloggers at the Bimmerpost.com website have already been able to post shots of the new model with minimal camouflage as it lay unattended in a German car park. Of particular interest to tyrepress.com readers were the sedan’s 265/40 ZR19 (102Y) tyres. Their manufacturer? Pirelli (click the additional picture for a close-up). Could this be an original equipment deal in the making?

11th August 2010/by Tyrepress Editors

Michelin Tops 2010 Online Brand Equity Tables

Company News, Online Brand Equity

Michelin has topped Tyres & Accessories’ exclusive online brand prominence rankings for the sixth consecutive year, totting up a record high score as it went. In our second online brand equity measurement – sentiment – compiled in association with the artificial intelligence experts at Cambridge-based Envisional, Michelin won-out for the third year on the trot, demonstrating the firms continuing dominance in this field too.

The Envisional analysis into online appearances or “mentions” of 17 major tyre brands, followed identical studies (looking at 12 of these brands) carried out in September 2005, August 2006, July 2007, October 2008 and September 2009. The major difference this time round is that the 2010 report also includes five up-and-coming brands produced in the Far East and while the data shows that they have a way to go before they will be giving their premium competitors a run for their money, certainly as far as online marketing is concerned.

4th August 2010/by Tyrepress Editors

Michelin Upgraded to ‘Buy’ Following Better than Expected Results

Analysts at Deutsche Bank have upgraded their rating for Michelin shares to “Buy” following first half 2010 financial results that were better than expected. The results published on 30 July show that revenues were up 17 per cent, mostly driven by volume growth of 15 per cent. According to the analysts, this was “by far the main earnings driver” since raw material price increases had no negative impact on first half results due to a lag effect. Overall first half 2010 operating income (822 million euros) virtually caught up with the firm’s full-year 2001 operating profit of (862 million euros).

Looking forward, the company’s management is now aiming for a full year operating margin of close to 9 per cent (1.5 billion euros), underscoring that in the second half the group should be able to more than offset a raw materials price headwind of 650 million euros.

3rd August 2010/by Tyrepress Editors

Pirelli Second Quarter 20% Ahead of Analysts’ Consensus

Financial analysts have described Pirelli Spa’s second quarter 2010 results as a “symbolic quarter” after the group, led by its tyre sales, posted results roughly 20 per cent ahead of analysts expectations and unexpectedly increased its 2010 earnings targets. The group increased its sales targets to 4.8 – 4.9 billion euros (from 4.6-4.7 billion) and is targeting EBIT margins 7 per cent versus 6.5 per cent previously.

30th July 2010/by Tyrepress Editors

June Growth Boosts Year to Date Global Market Figures

Figures released by Pirelli and Michelin show growth in on-road tyre markets across all global regions during June 2010. The Italian and French tyre makers respectively estimated growth in Europe’s OE passenger car tyre market to be nine per cent and 8.9 per cent during the month, with year to date growth in this segment given as 22 per cent and 25.2 per cent. For the European replacement segment, Pirelli and Michelin report June market growth to have been 11 per cent and 9.8 per cent respectively, with year to date growth figures exactly the same for both companies. Within Europe the OE truck tyre market is estimated by Pirelli to have grown 69 per cent year-on-year in June, while Michelin logs a 74.7 per cent growth for the month. Year to date growth is given as 30 per cent and 28.7 per cent. According to Pirelli European replacement market truck tyre sales grew 20 per cent in June, with Michelin providing a very similar figure of 19.7 per cent. Year to date, Pirelli and Michelin estimate growth in this segment to be 27 per cent and 28.7 per cent respectively.

30th July 2010/by Tyrepress Editors

Pirelli Reports Reports Strong 1H, Ups Targets

Pirelli Spa has reported that the firm closed the first half of 2010 with revenues of 2,426.5 million euros (1H 2009: 2,026.2 million euros), up 19.8 per cent. Pre-tax profits (EBIT) grew 62.8 per cent to 193.4 million euros (2009: 118.8 million euros). Net income of continuing operations more than doubled to 80.8 million euros, compared with 30.3 million euros in the first half of 2009. Such was the success of the tyre business in the first half, the company raised its revenue target. Executives now expect revenues to rise 15 per cent organically compared with the target of more than 10 per cent organic growth estimated in May. Pirelli also announced that it will present its new 2011-2013 three-year plan to the financial community in November.

29th July 2010/by Tyrepress Editors

Stapleton’s Confirms Pirelli CPK Purchase

Company News, News, UK News

Stapleton’s Tyre Services has confirmed that it has agreed terms with Pirelli Tyre UK to purchase its CPK Auto Products Ltd business. Asked what the strategic intention behind the firm’s latest acquisition is, Stapleton’s representatives said “Pirelli’s CPK strengthens Stapleton’s position as the UK’s number one tyre distributor” and said the move sees the tyre distribution specialist “expand its trade distribution operation enabling a further improvement in efficiencies and customer service” in an official statement. No details of the terms of the sale have been released.

Commenting on the acquisition, Stapleton’s chief executive, Kenji Murai, said: “We are a growing business and this latest acquisition allows us to further improve our market position. Our aim is to provide excellent value for money alongside great customer service, across all our B2B sectors. This philosophy will be at the heart of everything we do.”

29th July 2010/by Tyrepress Editors

Pirelli Sells CPK Tyre Wholesale Business to Stapleton’s

Company News, UK News

Stapleton’s Tyre Service has agreed terms to buy Pirelli’s CPK tyre wholesale business for an undisclosed sum. A TUPE consultation process commenced with elected representatives of CPK on Monday 26 July. The sale is said to fall within Pirelli UK's strategy to focus on its core business, which does not include tyre retail or wholesale operations.

28th July 2010/by Tyrepress Editors

Pair Arrested in Tire Theft Sting at Pirelli Plant

Two men were arrested for stealing some $100,000 of tyres from the Pirelli Tire North America plant in Rome, Georgia, reports Tire Review. The pair were charged after a county police sting operation caught them taking some 150 tyres out of trucks at the plant site and attempted to sell them to officers.

28th July 2010/by Tyrepress Editors

Pirelli GP3 Rain Tyre Sees Use at Hockenheim

Pirelli has described last weekend’s racing at Hockenheim as ‘action-packed’. The two races held during the fifth round of the inaugural GP3 series were characterised by incidents, accidents, and changeable weather – which meant the company’s rain tyre saw its first use on Friday and Saturday during free practice and qualifying.

27th July 2010/by Tyrepress Editors

Ferrari One-Two Marred by Fine following Tame German Grand Prix

Ferrari’s second first and second place finish and general domination over the weekend at the German Grand Prix was marred by a maximum $100,000 fine for breaching sporting regulations, after Felipe Massa appeared to allow Fernando Alonso to pass him and win the race after a less-than-coded message from his engineer. While Ferrari officials and Massa himself denied any instructions effectively to hand the race to Alonso were issued, the constructor decided to accept the fine without appeal “in the interests of the sport,” according to team boss Stefano Domenicali. Bridgestone’s attempts to inject interest with the widest possible gap between tyre compounds were foiled by low track temperature allowing the super soft tyre to run longer than had been anticipated.

26th July 2010/by Tyrepress Editors

Pirelli Fined After Carlisle Forklift Injury

Following prosecution by the Health and Safety Executive, Pirelli Tyres Ltd has been fined £9,000 for an incident in which an employee’s leg was broken when he was hit by a forklift vehicle in the tyre maker’s Carlisle plant. Allan Miller, a 62-year-old contractor, was walking through an area within the curing department at the Dalston Road site when he was struck from behind by a pallet being carried on a forklift truck. He has been unable to return to his normal duties, the HSE reports.

26th July 2010/by Tyrepress Editors

Bridgestone uses Widest Tyre Compound Gap at German Grand Prix

The German Grand Prix had an exciting, rain-affected first practice session, with strong Championship contender Lewis Hamilton smashing his McLaren into a tyre wall at turn three. Meanwhile, the on-track intrigue this weekend would be escalated further by tactical decisions made as a result of Bridgestone’s decision to bring its super-soft and hard compounds to Hockenheim, should the rain stop long enough for their use.

23rd July 2010/by Tyrepress Editors

Pirelli Reverse Stock Split to Start July 26

Pirelli & C. S.p.A. has given details of what will be carried out in accordance with the resolutions regarding the reverse stock split of ordinary and savings shares adopted at its Extraordinary Shareholders’ Meeting on 15 July 2010. The company intends to begin the reverse stock split on July 26 and carry out the transaction according to the details outlined in the official Pirelli statement printed below:

23rd July 2010/by Tyrepress Editors