PIRELLI RE IS FOCUSED ON SERVICES

Pirelli Re continues with its streamlining program : the Board of Directors approved the agreement to sell 20% of Pirelli Credit Servicing, the corporate entity focused on the management of «non-performing loans» to Dgag International (Calyon Sa). This was a decision in line with the 2009-2011 Industrial Plan guidelines setting forth a gradual reduction of Pirelli Re‘s financial committment in the «non-performing loans» business as well as its greater focus on services. 
Based on the agreement reached, Dgag International will become part of Pirelli Re through a reserved capital increase worth 6.6 million Euros, with an enterprise value following the capital increase of approx. 36 million Euros and a 33 million Euros equity value. The deal generates for Pirelli Re a 3 million Euros gross capital gain, with a positive impact on its net financial position of approx. 89 million Euros, shareholders’ funding included. The closing is to take place at the end of June.

BUY PIRELLI TYRES AND TRAVEL FREE

Pirelli launches its incentives to replace old tyres with Pirelli eco-compatible ones.  In collaboration with Eni, the Pirelli Group can now offer discounts of up to 60 euros on fuel purchases. To receive them, just change your old tyres – worn beyond the legal limits (1.6 mm of tread) – with “green” Cinturato radial tyres. What makes this different from traditional incentives is how it is supplied: this initiative is wholly self-financing, and Pirelli bears all the costs. No government contribution, then, to a measure that is designed to revive the tyre market and stimulate sales of products with low environmental impact.  
The initiative falls within the guidelines of the Pirelli 2009-2011 industrial plan, published in February, for the development of increasingly innovative and ecological solutions and products. 
Scrapping worn tyres and replacing them with new “green” ones fulfils three of Pirelli’s aims: ensuring road safety, providing an anticrisis stimulus to support market demand in an unfavourable economic scenario and encouraging consumers to opt for products with low environmental impact. The scheme will run from the end of May to the end of July 2009. 
The initiative was presented in Rome today by Pirelli Chairman Marco Tronchetti Provera, and the Chief Executive Officer of Pirelli Tyre, Francesco Gori, as part of an event attended by Altero Matteoli, Minister of Infrastructure and Transport, Adolfo Urso, Undersecretary of State for Economic Development and International Trade, Mario Valducci, Chairman of the Transport, Post and Telecommunications Commission of the Chamber of Deputies, and Andrea Mondello, Chairman of Unioncamere, the national umbrella organisation for Chambers of Commerce throughout Italy.

PIRELLI LAUNCHES THE NEW CINTURATO P7

New ideas from Pirelli are not confined to incentives to purchase low environmental impact tyres.  Today saw another launch – during an event at the Temple of Hadrian, Pirelli brought forward the presentation of its new radial tyre, the Cinturato P7. This new product complies with the new European anti-pollution regulations that will come into force in 2012. The tyre, the latest developed by the Group’s Research and Development centre, represents a product that is innovative in several different respects. Firstly, in its low environmental impact: the Cinturato P7  is able to reduce the fuel consumption and carbon dioxide emission levels of a vehicle by an average of 20%, also contributing to lower sound pollution by up to 20%. Road safety is assured by high performance when braking or in curves, guaranteed on both wet and dry surfaces. The Cinturato P7 is manufactured with a new mix developed by Pirelli that uses increasingly “green” materials.   
In accordance with the 2009-2011 Industrial Plan, the new Cinturato P7 combines ecology and high performance, energy saving and lower environmental impact, and safety and driving comfort. 
The Cinturato P7, available from May, has already been adopted by the major motor vehicle manufacturers. 
Pirelli Labs are engaged in research seeking to drastically reduce environmental impact by using “green” technologies, from the mix to the tyre structure, without lowering the safety parameters of the vehicle. In particular, for the mixes, Pirelli is engaged in the development and use of a series of increasingly ecological new materials. Before the end of 2009 the Italian group will be able to use rice bran – a by-product of rice processing that has no food use – as a component in tyre production. Using this natural product will allow the use of synthetic substances to be reduced, decreasing pollution.

LINK:

http://www.pirelli.co.uk/web/car-suv-van/cinturato_family/all_about_cinturato/cint_p7/default.page