Pirelli Archives - Page 154 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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Pirelli to Re-Focus on Core Tyre Business

Pirelli Tyre has reported that its sales revenues fell marginally down 1.5 per cent from 4.162 billion euros in 2007 to 4.1 billion in 2008. However, pre-tax profits fell considerable due to the difficult economic environment and raw material costs. EBITDA stood at 443 million euros, down 19 per cent compared with 548.6 million euros in 2007. And EBIT came in at 250 million euros, 30 per cent down on 2007’s 358 million. As a result, the company reports that it “undertook restructuring actions, accelerated in the fourth quarter against further deterioration of the market, in order to strengthen the competitiveness of the industrial organization in Europe and reduce costs of central structures.”

The company registered revenues of 870 million euros, down 5 per cent on a like-for-like basis, in the fourth quarter of 2008. EBIT of 18 million euros before restructuring charges (which in the fourth quarter alone amounted to 68 million euros) compared with 71.9 million euros the year before.

11th February 2009/by Tyrepress Editors

Pirelli not Interested in Continental – Tronchetti Provera

According to news published by Reuters, Pirelli & C SpA is not interested in acquiring the tyre business of Continental AG. The news service reports that a comments to this effect were made by Pirelli chairman Marco Tronchetti Provera on February 11. During a press conference Tronchetti Provera said the Italian company was instead focusing on stand-alone growth.

11th February 2009/by Tyrepress Editors

Pirelli US Recalling Motorcycle Tyres

Pirelli Tire is recalling certain Metzeler ME880 Marathon motorcycle tyres, sizes 13/90B6 M/C TL 73H and 140/90B16 M/C TL 77H. The tyres were manufactured between 22 June and 13 September, 2008, and were stamped with incorrect load range and inflation pressure information.

Pirelli said it will notify owners and replace the tyres free of charge. The recall began on 18 November, 2008, but was only made pubic by NHTSA on 10 February. (Tire Review/Akron)

10th February 2009/by Tyrepress Editors

Kumho Becomes a New York Cab Supplier

Kumho Tires reports it is “excited to have its beloved tyres sported by the iconic yellow taxicabs of New York City.” Recently Kumho Tire USA announced it has been providing tyres to New York City Taxi and Limousine Commission (NYTLC), an agency that regulates New York City’s yellow taxicabs. The South Korean manufacturer’s products are being fitted as replacement tyres to yellow cabs operating in Manhattan, joining several other replacement tyre manufacturers, including Goodyear, Pirelli, Michelin and Continental, which also supply the taxis.

“We have supplied two thousand tyres to NYTLC since 2008, we expect the amount of supply to continually increase through local distributors for years to come,” said a Kumho Tires official. Currently around 1,500 yellow cabs ply the streets of Manhattan, assuring the tyre maker a steady stream of business.

6th February 2009/by Tyrepress Editors

Pirelli Takeover Rumours Cause Conti Shares to Rise

Shares in Continental AG rose 11 per cent on February 6 in response to circulating rumours that Pirelli & C SpA may wish to acquire the company’s tyre business – a move that, should it take place, would give the erstwhile competitors a comprehensive product portfolio. Reuters quoted an unnamed trader as saying “There is a rumour that Pirelli may be interested in Conti’s tyre business.”

Italian magazine Il Mondo has reported that banks have approached the Italian company about buying the Conti business, however neither Pirelli nor Continental have confirmed or denied any such activity. The Il Mondo article claims that Pirelli executives have conducted, on separate occasions, meetings with JP Morgan, Deutsche Bank, Mediobanca and a number of advisers.

6th February 2009/by Tyrepress Editors

Encircle Now Offering Two-Wheel Market Data

Market research specialists, Encircle Marketing, are now offering motorbike tyre data. The company, which was founded a little over a year ago, has quickly built a reputation for providing fast, accurate and actionable data to some of Britain’s leading tyre businesses. Now, in addition to the already popular passenger car and online tyre sales reports, joint founders Jason Cunningham and David Myers have decided to create another market specific product, this time aimed at the two-wheel segment. Tyres & Accessories recently met the management at the company’s new offices in Doncaster and found out more about the data they offer.

The new motorbike tyre survey covers two key areas sell-out pricing, which measures the sell-out prices actually charged by consumers; and selling way – research on the argumentations used to sell different brands at the point of sale. Initially the company plans to make over 700 mystery calls a month across the various channels and regions that make up the market. In order to make the research as effective as possible, Encircle have hired mystery callers based upon their specific knowledge of the motorcycle sector (meaning they are bikers themselves) with a range of regional accents to minimise the risk of detection by centre staff.

5th February 2009/by Tyrepress Editors

Pirelli Confirms Carlisle Cutbacks

In a statement released February 4, Pirelli has confirmed plans to reduce the working week of employees at its Carlisle plant until the end of April. “The full impact of the global economic slowdown is being felt by many businesses in and connected to the car industry who have introduced long term lay offs and reduced working weeks,” the company said. Local media had previously reported that the 40-hour working week would be reduced to 32 hours per week.

5th February 2009/by Tyrepress Editors

Pirelli Carlisle Employees Working 20% Less Until April

It appears that workers at Pirelli’s factory in Carlisle are facing a further reduction to their workload. According to the local News & Star newspaper, a new arrangement begins on February 9, under which employees that normally work 40 hours in the week will be asked to work only 32 per week until April 1. An official statement on the issue is still being approved by the company’s head office in Milan, Italy, the paper added.

4th February 2009/by Tyrepress Editors

Dates of Pirelli Carlisle Shutdown Announced

The dates for the shutdown of Pirelli’s factory in Carlisle have been confirmed – between February 24 and March 4, production at the plant will be cut to compensate for a dropping demand for passenger car tyres. The News & Star reports a company spokesman as saying “there will be a staged close down and restart commencing from February 24 until March 4. During this period it is anticipated there will be around six days shutdown per production department.”

According to the spokesman, Pirelli attempted to coincide the shutdown with the half-term school holiday break, but was unable to due to previous scheduled maintenance work.

30th January 2009/by Tyrepress Editors

China Sunsine Supplying Global Tyre Majors

China Sunsine Chemical Holdings is one of China’s largest rubber accelerator producers. At present the company possesses a total annual production capacity of 50,000 tons of rubber accelerators per annum, plus a further 10,000 tons of insoluble sulphur and 10,000 tons of anti-oxidant. These chemicals are sold to the leading global tyre manufacturers, including Bridgestone, Michelin, Goodyear, Continental, Pirelli, Sumitomo Rubber, Yokohama, Hankook, Cooper and Kumho. In China, the company supplies – amongst others – Giti Tire, Aeolus Tyre, Shanghai Tyre, Hangzhou Zhongce Rubber and Chengshan Corporation. Worldwide, China Sunsine boasts more than 400 customers in over 30 countries.

30th January 2009/by Tyrepress Editors

Pirelli Workers in Turkey Demonstrate Against Layoffs

Employees at Pirelli’s facility in Kartepe, Turkey have taken part in a sit-in protest at the factory site after hearing news that 80 workers had been laid off. Workers at the Türk Pirelli factory stopped production late on January 26 and many occupied the factory. According to the Lastik-İş labour union, all 1,150 factory employees took part in the sit-in.

28th January 2009/by Tyrepress Editors

Pirelli Enters Agreement With Brembo, Magneti Marelli

Pirelli, along with Italian brake systems specialist Brembo and technology systems manufacturer Magneti Marelli, has announced the commencement of a cooperative technological agreement. The aim of this joint work, says Pirelli, is to develop leading edge solutions for the Italian and international automotive industry.

28th January 2009/by Tyrepress Editors

Pirelli Carlisle Factory to Close for a Week

News published by the Cumberland News on January 28 indicates that Pirelli’s factory in Carlisle will close for a week in February. The newspaper talks of a phased shutdown at the factory beginning at the end of the month, and this report is the latest in a serious of setbacks experienced by plant workers – since summer 2008 around 80 employee redundancies have been announced, and the factory’s planned Christmas period shutdown was also extended due to a downturn in sales.

28th January 2009/by Tyrepress Editors

Pirelli Geared Up For 2009 WRC

The 2009 World Rally Championship kicks off in Ireland and again this year Pirelli, the championship’s exclusive tyre supplier, plays a pivotal role in proceedings. From the season’s opening race, which gets under way on 30th January, Pirelli believes the 2009 WRC will be a series full of technical challenges for both teams and drivers. Mud, snow and ice are just a few of the weather related obstacles the opening rally will hand drivers, making tyre choice a critical factor in the race. The other 11 rounds feature conditions that are no less exciting: from snow in Norway to the dirt roads of Australia and Argentina.

27th January 2009/by Tyrepress Editors

Free Tyres Offered to Lure Pirelli MSA Gravel Rally Competitors

Motorsport is admittedly not the cheapest of pastimes, but at least competitors taking part in this year’s Pirelli MSA Gravel Rally Championship will not have so many worries about tyre costs. Pirelli, in conjunction with the Association of National Championship Rally Organisers (ANCRO) has announced that all registered competitors will be eligible to receive four brand new Pirelli tyres, completely free of charge. This decision has been taken, say the organisers, in a bid to tempt competitors to contest the eight-round national series.

26th January 2009/by Tyrepress Editors