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With reference to the news published today, TP Industrial Holding – the company which owns 52% of Prometeon Tyre Group - announces that the integration process of Prometeon Tyre Group with the companies producing industrial tyres owned by CNRC, including Aeolus, has been interrupted for the moment due to the failure to obtain all the necessary authorizations for the operation from the relevant authorities by the contractual deadline of December 31, 2017.
However, TP Industrial confirms its strategic interest to pursue the integration of Prometeon and Aeolus which is already in progress, in the technological and commercial areas. In the field,joint teams are already working on commercial and operational activities. The integration process will continue in an appropriate time-frame in accordance with the law and regulations.
With regard to the Prometeon Tyre Group, it is continuing to grow its business and worldwide commercial presence with its new go-to-market approach and commercial organization.
PROMETEON TYRE GROUP
Prometeon Tyre Group, formerly Pirelli Industrial, is the company head of the group that manufactures and commercializes Pirelli branded Truck, Bus, Agro and OTR tyres. 4 factories (2 in Brazil, 1 in Egypt and 1 in Turkey) make up the Group's production structure and two R&D centers in both Milan and Santo Andrè, Brazil, represent the heart of the product portfolio innovation. Over 7,000 people work in the Prometeon Group, which until March 2017 operated within the Pirelli Group. The Prometeon Group is present in over 160 countries around the world, and it is 52% owned by TP Industrial Holding (100% owned by Marco Polo International Italy), 38% by CINDA (a Chinese International Investment company) and 10% by Aeolus (a Chinese company active in the production of Industrial tyres).
TP INDUSTRIAL HOLDING
TP Industrial Holding is entirely held by Marco Polo International Italy Spa, the company formed for the partnership between CNRC (which indirectly controls 65% of the company share capital), Camfin (with 22.4%) and Long-Term Investments Luxemburg (with 12.6%). CNRC is the tyre and rubber subsidiary of ChemChina Group.
Prometeon Tyre Group S.r.l. - Communication Department
Viale Sarca, 222 - 20126 Milano
Cislaghi Tecla - Communication & Media Relations