Prometeon Tyre Group (PTG) has declared its two-year turnaround process over and underpins this with its recently-released annual results for 2020. Giorgio Bruno, chief executive officer of Prometeon Tyre Group and Gregorio Borgo, chief operating officer, state that the “turnaround path is ended” and that PTG is “stronger and more resilient,” having been able to “improve margins, protect cash and strengthen asset structure, despite the pandemic.”
Sales within the premium and tier 2 segments of Europe’s commercial tyre market have remained level for years, but the tier 3 segment is growing in leaps and bounds. For Prometeon, the company behind the Pirelli commercial tyre brand, this trend represents an opportunity it doesn’t wish to miss out on. It presented its new Anteo brand to potential distributors on 26 March, displaying a launch range of six lines.
Capacity at the Prometeon Tyre Group plant in İzmit, Turkey will increase by 75 per cent by 2020 in order to accommodate plans to almost double exports from the facility. This project will be funded by a US$115 million investment announced by the company on Tuesday.
Of all the tyres fitted to prestige vehicles at the Geneva Motor Show, 51 per cent were made by Pirelli. Pirelli’s premium vehicle share at the show was 32 per cent. According to Pirelli general manager, operations, Gregorio Borgo the Geneva shares are pretty much the same as Pirelli’s real-world market share. Now consider the fact that registration of prestige marques (the most exclusives brands) have increased seven-fold since 2000. During the same period, the registrations of premium marques have tripled. Meanwhile, general market registrations are only 1.5 times greater than they were at the turn of the millennium. With this in mind, you can see why Pirelli was keen to preview its latest P Zero tyre in the context of the Geneva motor show and why the company is emphasising so-called “marked tyres” more than ever.