Pirelli separates from industrial tires unit to become “pure consumer tire company”

Milan, Italy – Pirelli & C. S.p.A.’s split into separate consumer and industrial tire companies took another key step this week with the renaming of the industrial tire business unit as “Prometeon Tyre Group S.r.l.”

Pirelli disclosed this move and others — including the intention to effect a public offering in 2018 for Pirelli as a “pure consumer” tire company — in its fiscal 2016 financial results statement.

Pirelli also disclosed a revised shareholding structure, noting that a 52-percent shareholding in Prometeon…

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