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.
Pirelli Pneus Ltda achieved this month the Toyota recognition in both performance categories. Out of 110 suppliers the Company was granted with the Logistics and Quality Excellence performance awards in the 7th edition of the Mercosur Toyota Suppliers Conference.
During all over 2008, Pirelli conquered this position with the carmaker not only because of the products figures but also from the excellent services provided.
In Brazil, Pirelli Pneus Ltda has a long term relationship with Toyota, since the carmaker started the operations in the country in 1998. From then on, Pirelli tyres equipped close to 50% of the Toyota´s production. The Tyre Company also constantly struggles to deepen the quality of the products which are developed jointly with Toyota and fulfill all the strict performance level required.
In order to be awarded in the Quality field, the supplier could not have any part returned all over the year and also could not receive any complain after the vehicle’s sale. To the Logistics, the criteria are fulfill 100% the delivery’s requests and also cannot delay them.
This was not the first time that Pirelli was certified by Toyota: the company had already won in 2006 and 2007 with Logistic Excellence Award and reached the Toyota’s Quality Certificate in the years of 2004, 2005 and 2007 to finally conquer the Quality Excellence Award in 2008.