Sustainability Channel

FINANCIAL STATEMENTS AS OF 30 JUNE

The Board of Directors of Pirelli & C. SPA approves financial statements as of 30 June 2009:

• second quarter operating results improved over the first quarter;
• operating trend in line with overall targets of 2009-2011 industrial plan;
• target for financial position improves: net debt forecast for year end at approximately 800 mil lion euros;
• new model of risk monitoring and management introduced: broadens functions and number of components of internal control and Corporate Governance committee; compliance function introduced, separate from internal audit function; risk officer instated.

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CHINA: P7 AND P ZERO BEST TYRES OF THE YEAR

Pirelli scored a double at the 2009 China Tyre Enterprise Summit, which concluded recently in Shanghai.
The Cinturato P7 was voted “The Best New Tyre of the Year”, the Summit’s most prestigious award, while the P Zero, the high range tyre, won “The Best Ultra-High Performance Tyre” award as a result of its excellent performance in relation to that of its competitors in the category.
 
The Summit, which focused on an eco-sustainable theme of energy saving and protection of the environment, had at the centre of its debate research into new eco-compatible materials, the introduction of technological innovations that imply a lesser environmental impact and the creation of tyres that are increasingly ‘green’.
The attribution of two such important awards demonstrates the general appreciation by the industrial world of Pirelli’s policy of safety and respect for the environment, which it has pursued in recent years.
 
The awards were received on behalf of Pirelli by Michael Cati, commercial director of Pirelli Tyre China, who said, “It is a great honour for Pirelli to receive this recognition. From 2005, when the company entered the Chinese market, it has always introduced its latest technology and its new products. The P Zero and Cinturato P7 are proof of that. In line with the theme of the Summit, Pirelli will continue to focus on ‘green’ technology and energy saving while continuing to marry respect for the environment and performance“.

ETRMA PUBLISH ITS ANNUAL REPORT 2008-2009

“We live in extraordinary times which require extraordinary responses; a combination of economic, social, technological changes will have to be implemented towards generating newer and greater opportunities“. With these words Mr Francesco Gori, President of ETRMA and CEO of Pirelli Tyre and Ms Fazilet Cinaralp, Secretary General of ETRMA, introduce the ETRMA Annual Report 2008-2009.

While celebrating 50 years of industry contribution to building a European policy framework which benefits consumers and promotes competitiveness, the Report communicates European Tyre & Rubber manufacturers’ commitment towards a sustainable EU policy framework and economic recovery, clearly sating ETRMA strategies for:

• Contributing to reduction of CO2 emissions
• Developing strategies for promoting environmental protection
• Promoting industry competitiveness on the global market
  ETRMA represents the tyre and rubber manufacturing industry at the European Union institutions and other international organisations in initiatives aimed at road safety, environmental protection and competitiveness.

For in-depth information, visit www.etrma.org