Pirelli & C. S.p.A. is a multinational company based in Milan, Italy, formerly listed on the Milan Stock Exchange since 1922, but now an overseas subsidiary of Chinese state-owned enterprise ChemChina. The company is one of the largest tyre manufacturers behind Bridgestone, Michelin, Continental and Goodyear. It is present in over 160 countries, has 20 manufacturing sites in 14 countries and a network of around 10,000 distributors and retailers.
Pirelli has been sponsoring sport competitions since 1907 and is the exclusive tyre supplier for the Formula One Championship for 2011-2019 and for the FIM World Superbike Championship.
Pirelli is now a pure tyre manufacturing company. In the past it has also launched fashion project and operated in renewable energy and sustainable mobility.
Pirelli has published its Pirelli Calendar since 1964, which has featured the contribution of famous photographers over the years like Helmut Newton, Steve McCurry, Peter Lindbergh, Richard Avedon, Bruce Weber, Herb Rits and Annie Leibovitz.
Pirelli's headquarters are located in Milan's Bicocca district, an area that is home to the rapidly growing Italian university, Università degli studi di Milano-Bicocca, and cultural locations such as the Teatro degli Arcimboldi and Hangar Bicocca, an exhibition centre for contemporary art that Pirelli founded.
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History
Founded in Milan in 1872 by Giovanni Battista Pirelli, the company initially specialised in rubber and derivative processes and also made scuba diving rebreathers. Thereafter, Pirelli's activities were primarily focused on the production of tyres and cables (for energy and telecommunications). In 2005, Pirelli sold its cable division to Goldman Sachs, which changed the new group's name to Prysmian.
In the 1950s, Alberto Pirelli commissioned the building of a skyscraper, Pirelli Tower, in the same Milanese area that housed the very first Pirelli factory during the 19th century.
In 1974, Pirelli invented the "wide radial tyre", upon a request from the Lancia rally racing team for a tyre strong enough to withstand the power of the new Lancia Stratos. At that time, racing tyres were either slick tyres made with the cross ply technique (very wide tyres with a reduced sidewall height), or radial tyres, which were too narrow to withstand the Stratos' power and did not provide enough grip. Both were unusable for the Lancia Stratos, as the radials were destroyed within 10 km, and the slicks too stiff. Lancia asked Pirelli for a solution, and in 1975 Pirelli created a wide tyre with a reduced sidewall height like a slick, but with a radial structure.
Subsequently, Porsche started using the same tyres with the Porsche 911 Turbo.
In 1988, Pirelli acquired the Armstrong Rubber Company, which was headquartered in New Haven, Connecticut, for $190 million.
In 2002 the company started a range of Pirelli branded clothing, watches and eyewear.
In March 2015, it was announced that Pirelli shareholders has accepted a EUR7.1 billion bid from ChemChina for the company. The transaction was completed and the company was delisted in November 2015.
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Corporate affairs
The list of Pirelli main shareholders As of September 2016
Board of directors
The list of Pirelli Board of Directors:
As of October 2015.
Financial information
*The performance takes into account, as well as the deconsolidation of Venezuela, a non-recurring fiscal impact of 107.6 million euro linked to the devaluation of active deferred taxation by the Parent Group as a consequence of Pirelli's new financial after its merger with Marco Polo Industrial Holding.
Marketing
The Pirelli Calendar is published annually, and regularly features famous actresses and fashion models. The calendar also features the work of many of the most respected fashion photographers in the world, including Herb Ritz, Richard Avedon, Mert & Marcus, Peter Lindbergh, Annie Leibovitz, and Patrick Demarchelier.
The Pirelli Internetional Award is given annually for the best international multimedia involving the communication of science and technology conducted entirely on the Internet.
"Power is nothing without control" is the well known slogan of Pirelli Tyre Company, and is featured in numerous television and print advertisements.
Pirelli is the long-serving main sponsor of Italian football club Inter Milan, having sponsored the Italian team since the 1995-96 season.
Sponsorship
Football
Pirelli has a history of sponsoring football teams. Pirelli is well known for its long term primary sponsorship of the Italian football team Inter Milan. Pirelli previously appeared as a sponsor on the shirts of the Maltese football club Valletta for a short time.
Pirelli's sponsorship of football teams is not limited to Europe, South America is a key market and as a result successful clubs have also been sponsored by the tyre company. The Brazilian team Palmeiras, Uruguayan team Peñarol and Argentinian side Vélez Sársfield all had Pirelli as a shirt sponsor.
When English Football League One side Burton Albion Football Club built their new stadium in 2005, Pirelli became the title sponsor of the new ground. This was because the new stadium, named Pirelli Stadium lies next to the Pirelli factory in Burton-upon-Trent, Staffordshire, England.
In 2009 Pirelli became the title sponsor of the Chinese Super League (CSL), China's top tier football league.
In 2012, the company become a major sponsor of the Russian Cup.
Formula One
Pirelli is currently the event title sponsor of the Spanish and Hungarian Grand Prix.
Rally
Pirelli supports rally with their FIA Pirelli Star Driver program as an initiative to support young rally drivers.
Motorsport
Pirelli is the only allowed tyre brand in the FIM World Superbike Championship since 2007 (along with its support classes, such as the Supersport World Championship). Pirelli has also been awarded the contract for the control tyre supply in the British Superbike Championship from 2008 until at least 2010. Pirelli were also the official tyre supplier of the World Rally Championship from 2008 to 2010, until the company withdrew to focus on its Formula 1 commitments. Pirelli returned to the championship in 2014, however they only supply tyres for a few private teams as Michelin is the major tyre supplier. Pirelli was also supplied Grand-Am Rolex Sports Car Series from 2008 until at least 2010 before replaced by Continental AG in 2011. Pirelli is sponsor of rally and gymkhana driver Ken Block's Hoonigan Racing Division since 2010.
Pirelli is the sole tyre supplier in Formula One, following Bridgestone's decision to withdraw from the role at the end of 2010. Pirelli previously competed in Formula One from 1950-1958, 1981-1986 and 1989-1991.
Controversy surrounded Pirelli's Formula 1 tyres as at the 2013 British Grand Prix seven Pirelli tyres failed: Pérez twice, Alonso, Hamilton, Gutierrez, Vergne, and Massa. Following a safety car period drivers were instructed to stay off the kerbs that were later found to be "razor sharp" and may have been the cause, but the president of the British Racing Drivers' Club rejected the idea that the kerbs could be at fault, saying that "These kerbs have been in since 2009 and we have had thousands and thousands of cars go over these kerbs and they have been absolutely fine". The incidents were described as "unacceptable" by F1 drivers. It was later suggested that the cause of the tyre failures could be the teams putting them on the wrong side of the car. Pirelli stressed that the tyres are of an asymmetrical construction and are not interchangeable, and that if they are used correctly, they do not pose a threat to safety. However, the fault was ultimately found to be in Pirelli's design of the tyres so Pirelli changed the construction of the tyres to prevent further incidents.
Pirelli suffered further tyre problems at the 2013 Belgian Grand Prix. During the second practice two tyres failed: Vettel and Alonso. One senior figure at Pirelli described the failures as a "big concern", whilst Pirelli's motorsport director Paul Hembery admitted the tyre failures were "a worry for the sport". Following these issues, just one day later Michelin announced that they could replace Pirelli as the tyre supplier for 2014. In October 2013 Fernando Alonso complained that "the quality of the tyres is very on the limit", and that they "will not do 5km". Pirelli motorsport director Paul Hembery said: "Of course Alonso is one of the great F1 drivers, so to hear such comments is disappointing and below the standards you would expect from such a champion. In the Korean Grand Prix Pérez locked a front tyre heavily and then suffered a dramatic failure on the subsequent long straight. Pirelli hit controversy at the Indian Grand Prix where they requested the teams run the tyres a limited number of laps due to their fragility. One senior engineer at a top team said this was the worst blistering ever experienced.
In pre-season testing for the 2014 season the tyre on Rosberg's car failed, sending Rosberg into a 200 mph (322 km/h) spin. The incident prompted considerable alarm, and Pirelli stated that the tyre "will not be proposed again". In January 2014, it was revealed that Pirelli had signed a contract with the FIA to supply tyres to Formula One for the 2014, 2015 and 2016 seasons. The Pirelli 2014 wet tyre was criticised by Adrian Sutil as "the worst I have driven" and Jenson Button "twitchy" and "they take away that grip that they gave you". Later in 2014 Lewis Hamilton described the Pirelli wet weather tyres as "They're not great tyres. That's no secret".
Pirelli suffered further tyre problems at the 2015 Belgian Grand Prix. During practice, Rosberg suffered a dangerous tyre delamination at 200 mph (322 km/h). Rosberg said the incident was "quite a shock". During the subsequent drivers briefing double world champion Lewis Hamilton, raised concerns in a drivers' briefing about tyre safety following the high-speed blow-out suffered by team-mate Nico Rosberg at the Belgian Grand Prix. Concerns were also brought up by four-time world champion Vettel, and double world champion Alonso. Pirelli relied on race director, Charlie Whiting, to defend Pirelli's record in the meeting. During the race a tyre on Vettel's car suffered from a blowout at 200 mph (322 km/h). The four time world champion described the failure an "unacceptable", and added that Pirelli's tendency to blame failures either on debris on track or a driver going over a kerb for tyre failures was incorrect, confirming that "I didn't go off the track and out of the blue the tyre explodes". Following the race Rosberg was critical of the poor quality of Pirelli tyres, saying "Vettel exploding his tyre is really poor. It shouldn't happen and that it keeps on happening, in other categories as well and today with us, and with me on Friday both of us were just so lucky". The Grand Prix Drivers' Association chairman said: "We need to stop the sudden explosions." Immediately after the race Pirelli claimed that excessive wear caused the blowout, blaming Ferrari for running the tyre too long. However, following a more detailed analysis Pirelli said that in fact wear was not to blame, but instead a cut had caused the tyre failure. To counteract further problems at the next Grand Prix, Monza, Pirelli wanted to insist that teams run the tyres at high pressure, beyond their design parameters. However, double world champion Lewis Hamilton described these rules as a "disaster" and double world champion Fernando Alonso described them as "strange" so Pirelli was forced to backtrack on their proposal. After these comments, Pirelli attempted to censor the drivers by asking them to not criticise the tyres in public in the future.
The situation did not improve at the next Grand Prix at Monza. Here, Pirelli reported a higher than expected number of cuts forming in the tyres. During the race, one of Hamilton's tyres dropped below the regulation pressure dictated by Pirelli, despite the tyre having been prepared by a Pirelli technician. Neither Mercedes nor Hamilton were punished for the infringement. Later in 2016, the necessity to run Pirelli tyres at high pressure was described as a "joke" by triple world champion Lewis Hamilton, world champion Jenson Button, and world championship runner-up Felipe Massa.
Overseas investment
In April 2012, Pirelli & C. SpA signed joint venture agreement with Indonesian counterpart PT Astra Autoparts a subsidiary of PT Astra International for the construction of a motorcycle tyre plant with a total investment of $120 million. 60 percent shares will be held by Pirelli. Pirelli hoped to strengthen its presence in the largest motorcycle market in the world, the Southeast Asia region which has 250 million motorcycles.
Source of the article : Wikipedia
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