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.
In contrast to car tyre sales, the UK motorcycle tyre market continued the pattern of growth it has demonstrated in recent years in 2006. Europool figures put the total market size at about 775,000 units (not including non-EU produced tyres and grey and parallel imports), up around 2.2 per cent on 2005. But industry sources are expecting more next year and are projecting that European produced tyre sales will reach 800,000 units (up 3.22 per cent).
Subaru World Rally Team managing director, Richard Taylor has stated that his WRC team is ‘pleased’ with how their new partnership with tyremaker BFGoodrich is progressing. Subaru were required to change to BFGoodrich this season after Pirelli decided to end their involvement with the FIA World Rally Championship.
While most people visit motor shows to admire the latest and greatest from the world’s carmakers, those whose taste extends to tyres can also catch a glimpse of where the tyre world is heading. For example, observant onlookers admiring Jaguar’s C-XF concept vehicle at the Detroit show may notice that the spectacular mid-sized saloon does not just sit on any old rubber – the Jaguar’s large diameter wheels are complemented by 21-inch monsters from Pirelli.
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Pirelli UK Tyres Ltd is joining forces with Vacu-Lug, the UK’s largest independent retread manufacturer, in a strategic alliance that stands to strengthen the position of both companies.
Pirelli Tyre SpA, Europe’s third-biggest tyremaker, has arranged a line of credit worth 500 million euros (£337 million) in an attempt to improve the company’s financial structure and boost flexibility. The Italian banks NP Paribas and Banca Monte dei Paschi di Siena SpA have been hired as lead arrangers to organise the five-year multi-currency credit line. This new credit line is larger than any previous funding, a reflection of the tyre unit’s increased independence from the greater Pirelli group.
Italian corporate giant Pirelli & Co SpA is reportedly in favour of seeing its tyre division listed on the stock exchange in March or April as trading conditions improve.
Pirelli’s Initial Public Offering (IPO) plans for the tyre division were dropped last year because market conditions were deemed unfavourable at the time, and instead the company agreed to sell a 38.9 per cent stake in the operation to a company controlled by six Italian and foreign banks. Pirelli & C SpA received 740 million euros (£499 million) from the sale of the 38.9 per cent share.
Under the terms of this agreement, Pirelli has an option to buy back the shares if the banks do not conduct an IPO within four and a half years.
The test schedule for the SBK World Championship is continuing at the Losail Circuit in Doha, Qatar, between December 19 and 21. One team from each of the major competing manufacturers will take on the role of evaluating Pirelli’s latest tyres. These Supersport teams will be in Doha in order to provide feedback to Pirelli, information the tyremaker will use when shaping the development of its latest generation of Supersport tyres.
Following the end of testing at Doha the teams have but a short break before the next Pirelli test sessions commence at Australia’s Phillip Island between January 13 and 15.
Canadian TPMS specialist SmarTire Systems Inc. has announced that its revenue for the first quarter of the 2007 fiscal year has increased by 44% to $851,770 (£436,476), up from $592,866 (£303,805) in the first quarter of the 2006 fiscal year. At the same time net loss for the quarter decreased to $5.3 million (£2.7 million), or $0,02 per share, for the fiscal year’s first quarter, down from $17.8 million (£9.1 million) or $0.06 a year earlier.
(Akron/Tire Review) Pirelli Tire North America’s automated tire plant in Rome, Ga., received Ford Motor Co. Q1 Accreditation for operational excellence recently. The plant, featuring Pirelli’s MIRS production system, supplies OE tires for various Ford vehicles.
“This is a prestigious award from a world-class organization and is a sure indication of the rapidly developing capability of our company in the U.S.,” said Francesco Gori, managing director of Pirelli Tire. “Pirelli Tire North America is focused on selective growth in both the replacement and original equipment markets in the U.S. and Ford is very much part of that strategy, making it doubly satisfying to receive the accolade of their Q1 Accreditation.”
Italy’s Gigi Galli has once again driven to victory in this years’ WRC rally at the Memorial Bettega, held in conjunction with the Bologna Motor Show. The 2005 winner’s Pirelli-liveried Peugeot 307 won three of the race’s five heats. The Peugeot, riding on Pirelli’s P Zero tyres, also broke the stage record. Chris Atkinson took third place in his Pirelli fitted Subaru.
Also riding on Pirelli tyres was Toscana driver Tobia Cavallini, who also won the Trofeo WRC Italia in his Subaru Impreza WRC and another two successes came Pirelli’s way thanks to Anton Alen in the Subaru Impreza Cup and Tonino Tognana in the Historic Rally Show, driving a Lancia Rally 037.
Cheap imports of scrap zinc-based balancing weights are poor quality and contain dangerous levels of heavy metals, such as cadmium. Premium weight manufacturers told Tyres & Accessories that preliminary research shows such imports may contain 50 times the level of cadmium currently allowed in the products.
From January 2007 the Tyre Industry Council (TIC) will be known as TyreSafe. It also aims to raise its profile and will become a more proactively consumer-facing organisation. The news follows decisions from TIC director Peter Taylor and chairman, Brian Smith, to step down at the end of 2006. According to a statement released by the organisation, TyreSafe will “address the challenges facing the tyre industry and in particular the issues of corporate responsibility and duty of care legislation as they relate to tyres and their use.”
From January 2007 the Tyre Industry Council (TIC) will be known as TyreSafe, will raise its profile and will become a more proactively consumer-facing organisation. The news follows decisions from TIC director Peter Taylor and chairman, Brian Smith, to step down at the end of 2006.
TyreSafe has already received support and funding from influential companies including: ATS Euromaster, Continental Tyres, Cooper Tyres, Goodyear Dunlop, Hi-Q, Just Tyres, Kumho Tyres, Michelin, National Tyres & Autocare, Pirelli, Stapletons and Viking International. The organisation is also in talks with other well-known manufacturers, not to mention logistics and leasing companies.
Comments by Pirelli Competizioni Director Paul Hembery have led to speculation that the tyre company may return to the World Rally Championship in 2008.
The Pirelli P Zero Corsa System has been approved by Aston Martin as a Sports Tyre option on the 2007 V8 Vantage; a handcrafted sports car that offers electrifying performance and outstanding agility, making it one of the world’s most desirable sports cars.
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