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You are here: Home1 / Prometeon Tyre Group

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Prometeon amends & extends senior financing

Company News

Prometeon Tyre Group has signed an agreement for the amendment, restatement and extension of its 600 million euro senior financing, underwritten in March 2017, originally with a three-year duration. The new agreement allows the extension of the final maturity to March 2021 (with the possibility to further extend it to March 2022 at Prometeon’s discretion) at conditions in line with the current market. By signing the agreement Prometeon says it has secured the financial resources for the implementation of its 2019-2021 business plan.

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Related news:

  1. Prometeon/Aeolus integration stalls
  2. Tyre tariffs: Aeolus relocating production to Prometeon plants
  3. Increased capacity, exports: Prometeon investing $115 million in Turkey
  4. Camfin gains right to buy up to 15% of Pirelli shares
7th May 2019/by Stephen

Increased capacity, exports: Prometeon investing $115 million in Turkey

Company News, International News

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.

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Related news:

  1. Camfin gains right to buy up to 15% of Pirelli shares
  2. Pirelli, Rostec investing 100 million euros to double Voronezh plant capacity
  3. Anteo: Prometeon’s new brand for tier 3
  4. Pirelli and Hixih move closer together
8th November 2018/by Stephen

Tyre tariffs: Aeolus relocating production to Prometeon plants

Company News

Aeolus Tyre Co., Ltd. has emphasised its continued commitment to European markets. In a statement, the Chinese tyre maker describes its progress with the Aeolus brand within Europe as a “remarkable” achievement and stresses that the “unique position” it has claimed within the market will continue despite the introduction of anti-dumping duties. To facilitate this, some Aeolus tyre production will be relocated outside of China.

Read more

Related news:

  1. EU makes final truck tyre anti-dumping duties decision, retains fixed rates for manufacturers
  2. Chinese truck/bus tyres: EU introducing anti-dumping duties tomorrow
  3. Pirelli: Anti-dumping duties don’t affect us
  4. EU rejects claims Pirelli isn’t related to CNRC and Aeolus
25th May 2018/by Stephen

The Tire Cologne: Prometeon showing latest Pirelli products

Product News

The new range of Pirelli agricultural tyres and the latest Pirelli truck products will be on display at the Prometeon Tyre Group stand at next week’s The Tire Cologne. These can be found at Stand C48/D49 in Hall 7.

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Related news:

  1. Prometeon partners with Iveco Defence Vehicles
  2. Prometeon COO talks with Tyres & Accessories
  3. Pirelli H:01 Proway promises better mileage, economy & safety
  4. Yokohama Prometeon bid nearing completion, Aeolus Tyres now involved
24th May 2018/by Stephen

Kirkby positioning Pirelli as premium truck tyre offer

UK News

Prometeon Tyre Group UK Ltd has selected Kirkby Tyres as a truck tyre wholesale partner, with the goal of enhancing its UK distribution capabilities.

With the addition of the Pirelli TBR range, Kirkby Tyres will be now be offering a full-tier commercial product portfolio from value tyres, right through to premium.

Read more

Related news:

  1. 2015 a winning year for Kirkby Tyres
  2. Kirkby Tyres improves truck tyre range and distribution in changing market
  3. Uniroyal truck tyres to be distributed exclusively through Bandvulc
  4. Prometeon supporting Red Cross during coronavirus pandemic
21st May 2018/by Chris

Prometeon partners GB Tyres to distribute Formula truck brand

Product News, UK News

Prometeon Tyre Group UK Ltd has named GB Tyres UK Ltd as Formula brand partner for the UK & Ireland. According to the companies, the Formula truck and bus tyre range “benefits directly from Prometeon’s technological know-how and manufacturing expertise, providing a high quality TBR range that is specifically aimed at a more value orientated market”. Characterised as “a robust and hard working on-off product”, the Formula TBR range is said to provide “performance, long-life and affordability” and is available in key sizes across the UK dominated regional segment.

Read more

Related news:

  1. Kirkby positioning Pirelli as premium truck tyre offer
  2. The Tire Cologne: Prometeon showing latest Pirelli products
  3. Pirelli H:01 Proway promises better mileage, economy & safety
  4. Increased capacity, exports: Prometeon investing $115 million in Turkey
11th May 2018/by Chris

Pirelli: Anti-dumping duties don’t affect us

Company News

Although Pirelli Tyre Co, Ltd. is named as a company whose products (together with those from Aeolus Tyre Co., Ltd., Chonche Auto Double Happiness Tyre Corp., Ltd. and Qingdao Yellow Sea Rubber Co., Ltd.) will be charged anti-dumping duties of 64.13 euros per tyre under anti-dumping Regulation (EU) 2018/683, the tyre maker states it is not affected by the new regulation as it doesn’t produce commercial vehicle tyres.

Read more

Related news:

  1. EU makes final truck tyre anti-dumping duties decision, retains fixed rates for manufacturers
  2. Chinese truck/bus tyres: EU introducing anti-dumping duties tomorrow
  3. EU rejects claims Pirelli isn’t related to CNRC and Aeolus
  4. Chinese truck tyres: EC proposes revised anti-dumping duties
9th May 2018/by Stephen

Prometeon announces new worldwide organizational and commercial structure

Career Tracks, International News

Prometeon Tyre Group has announced a new organisation structure in order to “strengthen its presence in the different markets in which it operates” and “to continue the integration process with the Aeolus group”.

The following appointees will report directly to Prometeon’s chairman and CEO, Giorgio Luca Bruno:

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Related news:

  1. Hans Vrijsen appointed general manager, Goodyear Dunlop UK
  2. Giti Tire appoints Torsten Gehrmann as new senior managing director – Europe
  3. Prometeon/Aeolus integration stalls
  4. Increased capacity, exports: Prometeon investing $115 million in Turkey
13th February 2018/by Chris

Prometeon/Aeolus integration stalls

Company News, International News

The integration of Prometeon Tyre Group (the former Pirelli Industrial business) and Aeolus Tyre Co. Ltd has stalled after Aeolus’ pending acquisition of a 90 per cent stake in Prometeon failed to gain overseas acquisition approval from Chinese authorities before the 31 December 2017 deadline.

Read more

Related news:

  1. ChemChina now holds 30% of Pirelli shares
  2. Pirelli industrial/consumer tyre business split continues
  3. Camfin gains right to buy up to 15% of Pirelli shares
  4. ChemChina entrusts Aeolus with Prometeon Tyre Group shares
18th January 2018/by Chris

Aeolus hosts more than 200 in Italy for launch of Neo commercial tyre series

Company News, Premium, Product News

Aeolus has launched its third generation of truck and bus radial tyres in a large dealer event on the shores – and water – of Lake Maggiore in northern Italy. Readers of Tyres & Accessories will know that this location is highly appropriate for the Chinese company; the introduction of the new, extensive product range comes at a moment when the ChemChina produced brand is preparing for its future positioning as a second-line sister range to Pirelli in the commercial segment. While the exact relationship of Pirelli and Aeolus continues to be fluidly complex, the Italian brand’s recent separation of its commercial tyre operations under the Prometeon Tyre Group banner give a good indication of where Aeolus commercial tyres are heading.

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Related news:

  1. Aeolus to launch third generation truck and bus radial tyres at Autopromotec
  2. Pirelli launches commercial tyre all-rounder R:01 Triathlon
  3. Prometeon COO talks with Tyres & Accessories
  4. Dunlop launches mixed long haul, regional commercial tyres
14th November 2017/by Tyrepress Editors

TP Commercial Solutions opens North American headquarters in San Diego

International News

TP Commercial Solutions LLC has announced it will have a new office headquarters in San Diego, California from 1 September. The company’s move will cater for its expansion in the US and Canada for Truck, Agricultural and Off Road tyres. TP Commercial Solutions LLC is part of Prometeon Tyre Group, the fourth largest commercial tyre group in the world, which used to be part of Pirelli.

Read more

Related news:

  1. Alex Vitale appointed CEO of TP Commercial Solutions in the US
  2. Promoteon establishes three-digit million funding lines with 8 international banks
  3. Prometeon announces new worldwide organizational and commercial structure
  4. Increased capacity, exports: Prometeon investing $115 million in Turkey
27th July 2017/by Tyrepress Editors

Promoteon establishes three-digit million funding lines with 8 international banks

Company News, International News

Prometeon Tyre Group has arranged an inaugural 600 million euros of credit facilities consisting of 450 million euros of term facility and a 150 million euros of revolving facility. The new credit facilities mature on March 2020, with two one-year extension options. According to Prometeon, the credit facilities secure the firm’s “financial independence and autonomy following its separation from the Pirelli Group and optimise the company’s capital structure”.

Read more

Related news:

  1. Prometeon/Aeolus integration stalls
  2. Increased capacity, exports: Prometeon investing $115 million in Turkey
  3. Camfin gains right to buy up to 15% of Pirelli shares
  4. TP Commercial Solutions opens North American headquarters in San Diego
12th July 2017/by Tyrepress Editors

Alex Vitale appointed CEO of TP Commercial Solutions in the US

Career Tracks, International News

TP Commercial Solutions LLC has appointed Alex Vitale as its new CEO for North America. The appointment is effective immediately and will see Vitale bring over 20 years of global tyre industry experience to lead the company’s efforts and expansion in the commercial truck and fleet markets in the US and Canada.

Read more

Related news:

  1. Prometeon to launch new Pirelli Itineris tyre range at Autopromotec
  2. BFS And Pirelli Hike North American Prices
  3. Prometeon COO talks with Tyres & Accessories
  4. Yokohama Prometeon bid nearing completion, Aeolus Tyres now involved
20th June 2017/by Tyrepress Editors

Prometeon COO talks with Tyres & Accessories

Company News, News, Premium

As we have all heard by now, following the high profile acquisition of Pirelli by ChemChina (whose Chinese tyre manufacturing plants include respected truck and car tyre manufacturer Aeolus and well-known OTR tyremaker, Torch) what we used to refer to simply as Pirelli has split itself in two. The part focusing on car and other consumer-orientated high-performance products retains the Pirelli name, while the remaining parts of the business (which were previously known as Pirelli Industrial) are in the process of being merged with their Chinese opposite numbers, subject to approval by the relevant authorities, and folded into a new entity – Prometeon Tyre Group. Autopromotec was Prometeon’s first public outing, so Tyres & Accessories interviewed chief operating officer (COO), Murilo Fonseca, during the recent Autopromotec exhibition in Bologna to find out more about the strategy behind the moves.

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Related news:

  1. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  2. Prometeon to launch new Pirelli Itineris tyre range at Autopromotec
  3. Aeolus to launch third generation truck and bus radial tyres at Autopromotec
  4. Aeolus hosts more than 200 in Italy for launch of Neo commercial tyre series
15th June 2017/by Tyrepress Editors

Prometeon to launch new Pirelli Itineris tyre range at Autopromotec

International News, Product News

Prometeon Tyre Group (the former Pirelli Industrial business unit) is to make its first public appearance at the Autopromotec fair. Prometeon is hosting a multi-brand stand with Pirelli-branded and truck, bus and agricultural products as well Aeolus-branded truck, bus and OTR tyres. The news follows the announcement on 13 April that Pirelli’s Industrial activities will […]

Read more

Related news:

  1. Prometeon COO talks with Tyres & Accessories
  2. Yokohama Prometeon bid nearing completion, Aeolus Tyres now involved
  3. Aeolus becomes Prometeon Tyre Group
  4. Alex Vitale appointed CEO of TP Commercial Solutions in the US
23rd May 2017/by Tyrepress Editors
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