Pirelli Pays 2 – 3 cent Dividend
The general meeting of Pirelli & Co has approved the distribution of a shareholder dividend of 0.0210 euros per ordinary share and 0.0364 euros per savings share.
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.
The general meeting of Pirelli & Co has approved the distribution of a shareholder dividend of 0.0210 euros per ordinary share and 0.0364 euros per savings share.
Pirelli has started work towards the construction of a special cable factory in the Brazilian State of Espirito Santo (Vila Velha). The “umbilicals” produced will be used in offshore oil platforms, the company says.
Pirelli Tire North America is putting a little fun into its tyre testing programme this week as it participates in the One Lap of America event. Presented by Car and Driver and the Tire Rack, the event starts on 30 April at the Tire Rack headquarters in South Bend, Indiana. The 22nd running of the One Lap covers approximately 3200 miles and passes through many different states on the East coast of the US. The Pirelli team consisting of Jeff Dinges (R&D) and Gianluca Grioni (marketing) will participate in 11 different timed events at tracks such as Virginia International Raceway and New Hampshire International Speedway and finish the event on 7 May back at the Tire Rack.
Pirelli Tire North America will increase prices for its passenger and light truck tyres by 5 per cent. The price increase with be effective from 1 June in the US and Canada. Pirelli is the latest in a string of price increases from major manufacturers in the US.
(Akron/Tire Review) Carl Casalbore, Cooper Tire & Rubber Co’s vice president of marketing and retail sales, abruptly left the company 11 April. The former Pirelli high performance sales and marketing manager left to pursue other interests. Cooper has not yet named a replacement.
Casalbore joined Cooper in 1999 after more than 20 years with Pirelli Tire North America, and was initially director of Pirelli sales for Cooper when the two companies worked together on sales and distribution. He later helped spearhead Cooper’s push into the high performance market and with development and launch of Cooper’s Zeon line.
(Akron/Tire Review) Carl Casalbore, vice president of marketing and retail sales at the Cooper Tire & Rubber Co., has announced his departure from the company, and Robyn N. Dashnaw has been appointed territory sales manager by the Findlay, Ohio-based tyre manufacturer.
Pirelli is to build a new tyre plant in Romania, The Cumberland News has reported. The new Romanian tyre plant will reportedly be of a comparable size to the Pirelli factory at Cummersdale near Carlisle and will initially produce 4.5 million tyres a year. However, unlike the Carlisle plant, which specialises in 4×4 tyres, the Romanian plant will produce the full range of Pirelli products, the newspaper reported.
Pirelli tyres have been chosen as original equipment on the BMW M6, the German manufacturer’s new Luxury Sports Coupé, presented this week to the international press, exclusively shod with the ultra-high-performance P Zero Corsa System.
Pirelli has won several summer tyre tests carried out by German motoring publications. Products ranging from the ultra high performance sector to the balanced performance ranges were put through their paces.
In particular, Pirelli’s UHP tyre, P Zero Nero, fitted to BMW Z4, Mercedes-Benz C 320 Sport Coupé, Audi A3 and Audi TT and the P Zero Rosso fitted to Mercedes-Benz CLS 350 returned performances of “extremely high levels,” says the manufacturer, winning tests on both wet and dry asphalt.
Pirelli’s SUV Scorpion STR tyre, tested on a Jeep Cherokee, also received recognition, as did the high performance P6 on a Volkswagen Golf V and P3000 Energy on a Ford Fiesta.
At the beginning of the year, Guy Mannino, President and CEO of Pirelli Tire North America, announced 2005 as “The Year of OE at Pirelli.” With the New York International Auto Show just completed at the Javits Center in New York City and with major auto shows in Anaheim, Los Angeles, Detroit and Chicago having run their course, it’s instructive to review the significant OE in-roads Pirelli has made in this it’s fourth year of aggressive expansion in North America.
A recent survey conducted by the Sunday Times has shown Kwik-Fit to be one of the most expensive tyre fitting chains in the UK. The publication’s research found the company charged up to 120 per cent more for certain types of tyre than outlets in the same area.
The Retread Manufacturers Association is to introduce a series of specialist training courses as part of a development programme aimed at increasing the range of value-added benefits to members.
As a first step, the Association is re-introducing its City and Guilds Part 1 – Workshop Practice courses for the 2005/2006 study year. These correspondence courses, aimed at operatives in retreading plants, are being administered in conjunction with Newlaw Associates and cover a full range of processes in retread plants including inspection, drying, buffing, repairing, cementing, hot cure tread preparation, sidewall veneer application, hot cure building and precured retreading as well as other relevant topics such as matrices, basic materials, legislation and health and safety issues.
Pirelli Spa & C will pay a smaller dividend for the 2004 financial year than it did for 2003. The Italian company has proposed to pay a dividend of 0.021 euros per ordinary share and 0.0314 euros per savings share. The ordinary share dividend is 30 per cent lower than last year, when the company paid out 0.031 euros and 0.414 euros respectively. In spite of the dividend decrease the company paid out 113 million euros, more than it did in previous years.
Pirelli has announced that it has embarked on exclusive negotiations with RoadOne Tyre Co Ltd, a market leader in conveyor belt manufacturing. The new joint venture is to be based in Shandong Province and will manufacture large all-steel radial truck tyres for the domestic market and other export markets in South East Asia. Pirelli sees its latest move confirming its strategy in China, the world’s fastest growing market for road transportation. Negotiations with RoadOne Tyre began after some of the conditions stated in the company’s Letter of Intents with Aeolus Tyre (2004) could not be met.
Pirelli-shod cars swept the board in the Rally Mexico in mid-March, taking all three podium places.
Out in front was the Subaru of Petter Solberg, who led from start to finish for his second victory of the year. He won six out of the 14 all-gravel stages, finishing 34.5 seconds ahead of the Pirelli-equipped Peugeots of Marcus Gronholm and Markko Martin.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.