Pirelli Archives - Page 169 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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Sales Appointments at Bandvulc Tyres

Plymouth-based retreader Bandvulc Tyres has added four key personnel to its Sales division; two of these operating as Regional and National Sales respectfully and two appointments to its fleet support department.

Sales Director, Philip West comments: “We have had a stable growth period of sales over recent years and need to allow for further growth with the addition of key people to our sales team”.

The appointments of Richard Crummack and Simon Arnold to the Sales team bring experience to the organisation, Richard having worked with Michelin previously and Simon with Pirelli.

15th November 2007/by Tyrepress Editors

Michelin to End Pax System R&D

Michelin described it as “revolutionary” and “our biggest technological breakthrough since we patented the radial tyre in 1946,” yet news indicates that the French manufacturer is turning its back on the product about which it once said “we haven’t been this proud since we invented the radial.”

The director of research at Michelin’s Technology Center in Ladoux, France is reported to have said that the company has halted further research into its Pax run-flat system as there is “no big market demand” for the product. He added that demand for the Pax was not sufficient to justify the expense of the research invested into it.

13th November 2007/by Tyrepress Editors

Pirelli Releases 9-Month Figures, Considering Tyre Buyback

At the Board of Directors’ meeting at Pirelli & C. SpA on November 9 a mandate was given by the chairman to “begin contacts with speed” to evaluate the possible repurchase of the 38.9 per cent share in Pirelli Tyre currently owned by a consortium of banks, the company reported in a press release. This is the share sold by Pirelli in July 2006 to the bank-controlled company, Speed, for 740 million euros, and the repurchase would be a move towards the company’s new focus upon core businesses following the 3.3 billion euro cash sale of its Olimpia unit.

Nine-month results for the company as of September 30 were also released, and Pirelli claims these reflect the positive performance of its tyre and real estate businesses, which in the first nine months of the year were said to have “continued in the direction of further international expansion.” In the January – September period net profits returned to the black and were recorded as 243.3 million euros, a marked contrast to last year’s nine-month loss of 1.41 billion euros, which occurred largely due to the effect of the writedown of the stake in Olimpia. Group sales for the period were 5.23 billion euros, 44.4 per cent higher than last year’s 3.62 billion euros. Excluding DGAG, nine-month sales were 3.95 billion euros. EBIT, including income from equity participations, rose by 13.4 per cent net of extraordinary components, including the capital gain from the sale of 38.9 per cent of Pirelli Tyre, which characterised the previous period.

12th November 2007/by Tyrepress Editors

Pirelli 9 Month Results Expected to be Flat or Lower

Analysts expect the nine-month operating results released by Pirelli & C SpA to be flat or slightly lower due to the mixed performance of the company’s various divisions. Analysts have predicted a net profit of between 91 and 114 million euros compared with a loss of 1.411 billion euros in same period last year, an EBIT of 280 to 297 million, down from 300 million last year, an EBITDA of 441 to 462 million, against last year’s 462 million, and sales of 3.856 to 3.929 billion.

Pirelli Tyre is expected to benefit from volume increases in emerging economies, offsetting the impact of higher raw material prices. However, margins are expected to be particularly hard hit by higher raw material prices, one analyst commented. A second Milan based analyst noted that Pirelli has little exposure to the US market, and is thus in part insulated from the weaker dollar’s negative impact on sales. “The US represents 8 per cent of sales. They are more present in Latin America that is going very well,” he said.

9th November 2007/by Tyrepress Editors

Pirelli Offers BRC Star Driver Award

Pirelli, the official tyre supplier to the 2007 Tesco 99 Octane MSA British Rally Championship (BRC), has offered Pirelli Star Driver Award for the first time in 2007. This incentive is offered to all competitors in the BRC to put that extra effort into their own class battles throughout the year. With everyone using Pirelli tyres until 2009 and both Higgins brothers withdrawing themselves from possible selection, the playing field has been levelled for anyone to shine.

The BRC approaches its final round, Wales Rally GB with an exciting climax in prospect. Any one of the top six drivers is still in with a chance of the title, as the final gruelling event has two opportunities for scoring points. When the flag eventually drops on the championship after Rally GB, six Pirelli Star Driver finalists will go head to head in a televised shootout, to find out who will take the Pirelli funded drive in the 2008 Tesco 99 Octane MSA British Rally Championship.

9th November 2007/by Tyrepress Editors

Pirelli Unveils New Diablo Rosso

Pirelli has used the 65th International Motorcycle Exhibition (EICMA) in Milan as the venue to present the latest in it Diablo tyre range – the Pirelli Diablo Rosso – to international media. Described by Pirelli as representing a new generation of tyre, the Diablo Rosso is aimed at the supersport segment and adopts Pirelli’s patented EPT (Enhanced Patch Technology) in its design.

The front profile of the Diablo Rosso is designed to optimise the contact patch area, thereby, claims Pirelli, providing the most advantageous balance between fast and linear behaviour in corners while delivering an impressive ease of handling. The Pirelli patented Zero Degrees steel belt lurking below the tread is intended to keep the Diablo Rosso’s profile in optimal shape at all times and yet provide sufficient elasticity for very progressive feedback and behaviour regardless of lean angle. Rear tyre contact patch area is said to be improved through the inclusion of ‘nude’ shoulders. This clean area on the rear shoulder, in conjunction with the calibrated cuts in the centre tread, are said to maxmise the contact patch.

9th November 2007/by Tyrepress Editors

Ceat Outsourcing up 25% in Q3

Outsourcing is becoming an ever-larger focus for Ceat, India’s fourth-largest tyre manufacturer. Following the announcement of the company’s July-September results chief financial officer K J Roa reported that, of the 44,000 tonnes of tyres sold during the quarter, up to 10,000 tonnes were sourced from contract manufacturers, including overseas based companies. Compared with the corresponding quarter of 2006, outsourcing grew by 25 per cent whilst overall volumes increased by just 7 per cent year-on-year.

In addition to tyres imported under an agreement signed with Pirelli, Ceat has outsourced production for a number of low-margin items such as tubes, slabs, and tyres for two and three wheeled vehicles. Due to production restraints the manufacturer also currently imports a number of PCR and TBR tyres. In future, said Rao, China will take on an important role as an outsourcing location for the Indian company. Currently a number of products are undergoing testing, and over the next two months volumes from China could rise.

8th November 2007/by Tyrepress Editors

Pirelli to Raise Prices in Europe

The rising cost of raw materials and energy has prompted Pirelli Tyre to increase the price of their passenger car, SUV, van and industrial vehicle tyres by an average of 3.5 per cent. These revised prices will apply to all tyre brands produced by the Italian manufacturer and will commence on November 1 in Italy and Spain before implementation in other European markets by the beginning of next year.

Hand in hand with these measures is Pirelli’s decision to reduce by 25 per cent the suggested price list reference prices applied by dealers in Italy to final customers for summer car, SUV and van tyres, with winter tyres included under this arrangement from January 2008 onwards. The aim of this reduction, states Pirelli, is to “ensure a transparent price positioning to Italian customers and align the domestic market with the major European markets.”

25th October 2007/by Tyrepress Editors

Focus on Tyres, says Pirelli Shareholder

The investment fund Centaurus Capital, holder of a 3.2 per cent stake in Pirelli & C SpA, has sent a letter to the group asking them to maintain tyres as a primary focus. According to an article published in the Italian newspaper La Repubblica on October 20, the fund is pushing for Pirelli to reacquire the 39 per cent stake in the tyre business it sold last year to a consortium of banks, a purchase that could cost as much as double the 740 million euros originally paid for the share.

22nd October 2007/by Tyrepress Editors

UniCredit ready to sell stake in Pirelli

The CEO of UniCredit SpA, Alessandro Profumo, has said the bank is ready to sell its 1.6 per cent stake in Pirelli & C SpA, the Italian daily Il Sole 24 Ore reported. According to Profumo, the bank intends to keep the stakes until Pirelli’s shareholder syndicate expires in 2010. However, UniCredit is ready to sell before those dates if syndicate members are interested in buying, Profumo added.

19th October 2007/by Tyrepress Editors

Awards Presented at Last Rubber Industry Dinner…

During his opening speech for the last Rubber Industry Dinner, Jim Rickard, chairman of the Tyre Industry Federation and BTMA announced that the next year’s dinner, to be held in the autumn of 2008, will be renamed the Tyre Industry Dinner. Over 220 guests attended the tyre and rubber industry event at the Marriott Renaissance Hotel, Solihull on 5 October.

For some, however, the highlight of the night was the Rubber Industry awards which saw some of the industry’s leading lights present and received recognition for their hard work in tyre recovery, recycling and safety. RMA president Tim Hercock presented BITS’ Tony Smith with the RMA Green Dealer Award. Sapphire Energy’s Tim Stott and Derrick Pountney of Pountney Tyres received TRA Audit Excellence Awards. Peter Taylor, secretary general of TRA presented Ian Stuart with the TRA Responsible Retailer Award on behalf of ATS Euromaster. Finally, Matt Watson, Auto Express magazine received the TyreSafe Award from Rob Beddis, chairman of TyreSafe.

19th October 2007/by Tyrepress Editors

Keeping it Together

The organisers of the Tesco 99 Octane MSA British Rally Championship maintain the provision of sustainable solutions to the environmental impact that results from UK rallying events as one of their top priorities. Following on from the introduction of a “greener” control fuel, a partnership set up by the BRC with Pirelli Tyre and the Forestry Commission will examine tyre technologies with a view to developing a product that will have positive economic and environmental benefits. Thus, on the back of its participation as partner and official tyre supplier to the BRC, Pirelli has joined forces with these two parties to carry out an evaluation and tyre development programme with the aim of reducing damage to forest roads.

19th October 2007/by Tyrepress Editors

ETRMA Proposes Voluntary Road Noise Reduction Levels

On October 18 the European Tyre and Rubber Manufacturers’ Association (ETRMA) delivered to the European Commissioner for Enterprise, Günther Verheugen, its letter of commitment concerning the reduction of environmental impact resulting from tyres and further measures to increase road safety.

With this document the Association, chaired by Pirelli Tyre managing director Francesco Gori, commits itself to lowering tyre noise levels by two decibels while also contributing to a reduction of up to 5 grams per kilometre in CO2 emissions caused by motor vehicle traffic. This will be achieved through a range of measures including promotion of lower rolling resistance tyres and a recommendation for the fitment of tyre pressure monitoring systems to all cars.

19th October 2007/by Tyrepress Editors

Chinese Star Set for Pirelli Calendar

(Akron/Tire Review) According to Reuters, Pirelli has selected Chinese movie star Maggie Cheung as the lead model for its upcoming 2008 Pirelli Calendar, which will be shot entirely in Shanghai. Fashion photographer Patrick Demarchelier will photograph Cheung and 10 other women for the 35th edition of the calendar, which comes out Nov. 29 – days after the formal opening of Pirelli’s new tyre plant in Yanzhou.

17th October 2007/by Tyrepress Editors

Joint Performance

The scenic “La Borromea” toll road that twists its way down the 1,491 metres of northern Italy’s Monte Mottarone is renowned for offering splendid alpine panoramas and views of neighbouring Lake Maggiore. But for Pirelli and Volkswagen the road, draped across the mountain like a carelessly dropped strand of spaghetti, proved ideal for a far less peaceful use.

La Borromea’s steep descents, hairpin curves and sparse traffic provided all the ingredients required to show off the capabilities of Volkswagen’s Golf GTI Pirelli. Returning in May after a 24-year hiatus, the not so ordinary hatch has high expectations to meet – its predecessor sold 10,500 units in just six months, a far higher quantity than anticipated, and quickly became a much sort after classic. So to prove that the 2007 Golf GTI Pirelli is every bit as much built of the right stuff as the 1983 version, in October Pirelli and Volkswagen invited media representatives to put their new creation through its paces.

17th October 2007/by Tyrepress Editors