Year in review: Global tire players transform footprint(Top 2)

Time: Dec 26th 2017   Copy editor: Tyrefull

2018 is comming soon. The global tire industry almost saw another big merger in 2017, but there was plenty of other activity keeping firms busy in the year. From new investments to new structures, here are four of the biggest events within the tire sector.

Pirelli completes transformation

Speaking of mega deals, ChemChina's 2015 acquisition of Pirelli resulted in a number of restructuring moves, which seemed to have been finalized in 2017.The firm renamed its industrial tire business unit Prometon Tyre Group S.r.l., which consists of Pirelli's truck, bus, agricultural and OTR tires. Pirelli also disclosed plans to integrate ChemChina's Aeolus Tyre Co. Ltd. in addition to a range of other industrial/commercial tire activities under the control of ChemChina—including those of Guilin Tire Co. Ltd.

Once complete, Prometon will offer a portfolio of products covering a range of market segments, from high-end premium products under the Pirelli brand, Tier 2 products under the Aeolus brand and more entry-level products under the Yellow Sea, Double Happiness and Torch brands.

The new Pirelli, which consists of the firm's consumer activities—passenger, light truck and motorcycle tires, moved ahead with its plans for an initial public offering on the Borsa Italiana stock exchange, intending to sell up to 40 percent of its equity capital beginning in October.

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