Chemical firm Saudi Basic Industries Corporation (SABIC) recently signed an agreement with the joint venture, Mena Tyre Company, established between the Public Investment Fund (PIF) and Italian tyre maker Pirelli, for the supply of polybutadiene rubber and carbon black to achieve 3.5…
Tag: pirelli
Tyres: Tyre makers take the wheel to turn the sustainability corner
From landfill to factory, the tyre sector is expanding the circular use of rubber throughout the supply chain to shrink its carbon footprint by using sustainable rubber materials in tyres, says Angelica Buan in this “green” outlook on the tyre…
Pirelli launches 70% recycled material content tyre; developed for JLR
Italian tyre maker Pirelli has launched the first standard production tyre for the global market made with over 70% bio-based and recycled materials, including FSC (Forest Stewardship Council)-certified natural rubber. Developed in a specific version for JLR (JaguarLandRover), the new tyre is a Pirelli P…
Pirelli affirms independence from Sinochem control; paving way for US expansion
Italian tyre maker Pirelli’s board has approved an accord between shareholders to establish that the group’s largest investor, China’s state-owned Sinochem, does not exercise control over the tyre maker. This move might make it easier for the tyre maker to expand in…
Pirelli puts US investment on hold due to Sinochem
Italian tyre maker Pirelli says it has put on hold plans to invest further in the US due to tensions pertaining from its ownership by Chinese state-owned group Sinochem, which is its largest investor. Sinochem has a 37% stake in…
Camfin pumps up stake in Pirelli; Brembo sells entire stake in Pirelli
Italian auto parts maker Brembo has sold its entire 5.6% stake in Italian tyre maker Pirelli for around EUR283 million, a move that has dampened speculation about a merger between the two Italian groups. Sinochem holds a 37% stake in the tyre maker.…
Bosch and Pirelli tie-up for intelligent tyre technology
Italian tyre maker Pirelli and tech firm Bosch have signed a joint development agreement. It aims at jointly creating new software-based solutions and driving functions thanks to sensors integrated into tyres, also known as in-tyre sensors. For drivers, this means…
Camfin ups stake in Pirelli; Chinese fund reduces stake
Camfin, the second largest investor in Milan-based Pirelli has increased its stake to 22.8% as China’s Silk Road Fund offloaded its 9% interest in the premium tyre maker. Camfin, the vehicle of Italian businessman Marco Tronchetti Provera, has bought a…
EU approves Pirelli’s jv for tyre facility in Saudi Arabia
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Italy’s Pirelli Tire S.p.A. and the Saudi Arabia’s Public Investment Fund. The US$550 million deal relates primarily to the production and sale of…
Top European tyre makers targeted in EU raids
European Union (EU) antitrust regulators have undertaken unannounced raids on the offices of top European tyre manufacturers: Italy’s Pirelli, Germany-based Continental, France’s Michelin and Finland’s Nokian Tyres, as part of an investigation into a possible cartel deal. The European Commission,…