Who we are
Prometeon Tyre Group is a company that produces and markets Truck, Bus, Agro and OTR tyres with the Pirelli brand. The company is using technology under a license agreement with Pirelli Tyre S.p.A. and its more than 100 years’ experience in the Industrial tyre sector, offering an entire range of products and services for all types of usage.
The group has four factories (two in Brazil, one in Egypt and one in Turkey), employs over 7,300 people and has a commercial presence in over 160 countries.
At the heart of the group’s technological innovation are the Research and Development centres in Italy and Brazil, where a total of 100 researchers are employed.
The company is 52% controlled by TP Industrial Holding (100% controlled by Marco Polo International Holding, also controlling shareholder of Pirelli), 38% by CINDA (a Chinese international investment company) and 10% by Aeolus (a Chinese company that produces Industrial tyres).
PROMETEON TYRE GROUP: SUCCESSFUL CONCLUSION OF THE SYNDICATION OF INAUGURAL 600 MILLION EUROS CREDIT FACILITIES WITH 8 INTERNATIONAL BANKS
Milan, 11th July 2017 – Prometeon Tyre Group is pleased to announce that it has successfully concluded the syndication of the inaugural 600 million euros of Credit Facilities consisting of a 450 million euros of Term Facility and a 150 million euros of Revolving Facility. The new Credit Facilities mature on March 2020, with two one-year extension options.
The Credit Facilities secure Prometeon’s financial independence and autonomy following its separation from the Pirelli Group and optimise the company’s capital structure.
The Credit Facilities were underwritten and led by Bank of America Merrill Lynch, China Construction Bank, HSBC Bank and ING Bank, each acting as an Underwriter, Bookrunner and Initial Mandated Lead Arranger. Crédit Agricole Corporate and Investment Bank, Industrial and Commercial Bank of China, Banco Santander and Banco do Brasil joined the Credit Facilities as a result of the syndication process. Bank of America Merrill Lynch also acted as Documentation Agent and Facility Agent.
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PROMETEON TYRE GROUP WILL TAKE PART IN AUTOPROMOTEC WITH A STAND SHOWCASING TRUCK, BUS, AGRO AND OTR TYRES OF THE PIRELLI AND AEOLUS BRANDS
LAUNCH OF THE NEW PIRELLI ITINERIS LINE FOR THE INTERMEDIATE SEGMENT OF THE MARKET AND COMPLETION OF THE PREMIUM PIRELLI TRIATHLON LINE
PRESENTATION OF THE NEW PREMIUM PIRELLI AGRO PHP LINE FOR EUROPE, AND THE DEDICATED NETWORK SUPERTRUCK, UNDER DEVELOPMENT FOR THE WHOLE OF EUROPE
Milan, May 22, 2017 - Prometeon Tyre Group will make its first appearance at the Autopromotec fair with a multi-brand stand, hosting Truck, Bus and Agro tyres branded Pirelli and Truck, Bus and OTR tyres branded Aeolus. The stand’s new configuration at the fair follows the announcement on April 13th regarding the integration of Pirelli’s Industrial activities - identified with the new blue and gray logo and headed Prometeon Tyre Group - with the Aeolus group. The operation - subject to the approval of the relevant authorities - is expected to be completed by the end of the year and will lead to the creation of the world's first producer entirely dedicated to Industrial tyres and the fourth largest in the world in terms of production capacity in this segment.
NEW PIRELLI ITINERIS LINE FOR THE MID TIER OF THE MARKET
Prometeon Tyre Group will launch the first product of the new Pirelli ITINERIS line, dedicated to the mid tier of the market. For trailers, the Pirelli ITINERIS T90 has been developed in size 385/65 R 22.5, with a new tread design and compound specifically developed for regional application, features that bring the tyres to the top levels of its category, both in terms of mileage and grip on dry and wet surfaces (class A in wet grip).
THE TECHNOLOGICAL EXCELLENCE OF PIRELLI IS CONFIRMED WITH THE EXTENSION OF THE TRIATHLON LINE
The Triathlon line is the most versatile of the Pirelli :01 Series, the Pirelli Premium range, suitable for both regional and long-distance use, responding to the most selective requirements of European fleets. It ensures high mileage, low rolling resistance, high reliability and safety in all conditions, including winter. In addition, high retreadability contributes to increased service life and lower total cost of ownership.
The new Pirelli TRIATHLON ST: 01 completes the Triathlon range launched in 2016. Triathlon ST: 01 is dedicated to regional and long-haul trailers. Excellent performances under all weather conditions, even with snow-covered surfaces, and in the wet, are ensured thanks to the special cross-slots on all three ribs. What’s more, the tread geometry guarantees high mileage and high road safety and comfort.
The new Pirelli TRIATHLON FR: 01 and TR: 01 will also be launched in the 17.5 size, characterized by an innovative tread compound, granting high mileage in all weather conditions, while granting grip and driving precision. In addition, the new reinforced external side of the tyre improves impact resistance and tyre durability.
For the drive axle, the TR:01 presents a tread design characterized with the innovative Pirelli BUMPER technology, granting optimal wear, integrity and acoustic comfort.
PIRELLI :01 SERIES HIGH PERFORMANCE TYRES FOR ALL APPLICATIONS
Beyond the Triathlon line, our booth will also include tyres from the complete Pirelli :01 Series featuring products for all applications G (On/off), H (Highway), and C (City).
The Pirelli :01 Series is a complete line of tyres dedicated to heavy trucks, delivering high performance and low management costs while being environmentally friendly. It is built with the latest generation Pirelli SATT technology, providing a long service life, high retreadability and wear resistance. :01 Series tyres are characterized by both tread designs and tread compounds developed for all applications, in all segments.
To complete the range of tyres exhibited for the truck sector, there will also be the FORMULA brand, for those looking for a competitive and performances developed with Pirelli technology.
PHP: THE NEW PREMIUM AGRO LINE, MARKING THE RETURN OF THE PIRELLI BRAND TO EUROPE
To ensure the highest performances of agricultural equipment and the resulting maximum crop, the new Pirelli PHP radial tyre allows great versatility of use, with a yield of up to double that of an equivalent conventional tyre. The PHP radial line produced in Brazil’s Santo Andrè factory, responds to the different needs of European farmers: with better traction, reduced fuel consumption, excellent durability and regular consumption of the external sides. . In addition, Pirelli PHP’s road behavior ensures maximum driving safety and vehicle stability even under the toughest road conditions. This tire line has a tread designed to efficiently eject accumulated earth. The wider rubber structure between the tread and the carcass, along with the innovative compound are designed to increase the useable life of the tyre, and offer greater resistance to chipping and chunking during sowing and harvesting. The Pirelli PHP range is the result of a multi-year collaboration, coordinated between Prometeon Research and Development centers in Milano-Bicocca and Santo André in Brazil. The two centers have tested the products through a highly technological development process with intensive laboratory and open air tests, both on the field and on the road, to ensure maximum performance in all conditions and for all applications.
SUPERTRUCK: THE ITALIAN NETWORK OF SPECIALIZED DISTRIBUTORS
The Prometeon stand will also features the introduction of Supertruck, the Pirelli’s specialized dealers’ network for the truck tyre business, and able to meet the needs of road transport professionals through a consistent range of high quality services. At present, there are about 100 sales-and-service outlets throughout Italy, selected for their high reliability and professionalism, with qualified staff trained with dedicated courses, sales tools and latest generation equipment offered on special terms. The network is under development and is growing, with expansion slated for the main European markets.
TP INDUSTRIAL HOLDING: AGREEMENTS SIGNED WITH AEOLUS FOR THE INTEGRATION OF INDUSTRIAL ASSETS
A GLOBAL SCALE LEADER IN THE INDUSTRIAL TYRE SECTOR IS BORN
Milan, 13 April 2017 - TP Industrial Holding – a company controlled by CNRC - announces that agreements were signed with CNRC, Aeolus and High Grade (HK) Investment Management Limited for the full integration of its controlled Industrial activities with the other assets of the sector belonging to CNRC, including Aeolus and Guilin Beili. The formal finalization of this integration is expected by the end of the year, subject to the approval by the relevant authorities, with the contribution into Aeolus of the 52% stake held in Prometeon Tyre Group (formerly Pirelli Industrial).
In this context, it is foreseen that Aeolus, a company listed on the Shanghai stock exchange, will assume – subject to the approval by its shareholders’ meeting - the new English name of “Prometeon Tyre Group Co., Ltd.” upon final completion of the transaction.
The new leading player in the Industrial segment born of this integration:
- will be the first “pure Industrial tyre company”, one of the leaders in the segment with a production capacity of approximately 18 million pieces;
- will count on a global scale commercial presence, a consolidated industrial structure and around 18,500 employees;
- will be able to exploit the synergies deriving from the complementary nature of the different integrated assets in terms of distribution geographical presence and products;
- will offer a rich portfolio of products covering each market segment. The high-end Premium products will be represented by the Pirelli brand, while the next segment will be represented by Aeolus, and the market segments below by the Yellow Sea, Double Happiness and Torch brands;
- the new group will have two strategic centres, one in Beijing and one in Milan.
TP Industrial Holding is the controlling company of Prometeon Tyre Group, formerly named Pirelli Industrial, into which Pirelli’s activities in the Industrial segment were contributed following the separation of its business into two branches – Industrial and Consumer. TP Industrial Holding is entirely held by Marco Polo International Italy Spa, the company formed for the partnership between CNRC (with 65%), Camfin (with 22.4%) and Long-Term Investments Luxemburg (with 12.6%)%), which also owns Pirelli. CNRC is the tyre and rubber subsidiary of ChemChina Group.
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PROMETEON CHOSEN AS MAIN GLOBAL DEVELOPMENT PARTNER BY IVECO DEFENCE VEHICLES
THE NEW PIRELLI MG:01 TYRE WILL BE JOINTLY DEVELOPED FOR DEFENCE VEHICLES
Milan, April 11 2017 – Prometeon Tyre Group – the new company name of the group that produces Pirelli brand Truck, Bus, Agro and OTR tyres – has signed a commercial agreement with Iveco Defence Vehicles which calls for a historic partnership for the development of new generation tyres for defence vehicles.
This important collaboration agreement with a primary builder of industrial sector vehicles underscores Prometeon’s consolidated process of high technology tyre development. The close interaction between the R&D department and client facilitates the development of the best products, which satisfy the severe and diverse utilization demands of any type of vehicle.
The new Pirelli MG:01 tyre, in the 265/70R19.5 size, was specifically developed at the Prometeon Tyre Group’s Research & Development centre in Milan in the context of this development partnership. The MG:01 has a tread compound that is compatible with traditional road, off-road and snowed-under conditions, guaranteeing maximum performance and optimal drivability for any type of use. The acronym MG indicates the operational characteristics of the new tyre: M for Multipurpose (both for the steering and traction set-up) and G for On-Off Road applications.
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PIRELLI INDUSTRIAL: RAISES PRICES FOR TRUCK AND BUS TYRES IN EUROPE
Milan, 29 March 2017 – Pirelli Industrial announces price increases for truck and bus tyres of all brands belonging to the Company and in all European markets. The increases, which will take effect from May 1, 2017, will be of 7% on average and are a result of increases in the costs of key raw materials. These increases will be subject to revision during the year, if the growing raw material cost trend is confirmed.