MILAN—Pirelli & Co. S.p.A has launched a series of "value generating" programs for the medium term which will include a brand-change project at Aeolus Tyre Co. Ltd. Both tire making companies are owned by ChemChina.
In its first quarter statement released at the end of May, the Italian tire maker said one of the measures it planned to implement will convert Aeolus capacity into Pirelli brand production and expedite the development of the business in China.
The Milan-based tire maker said the brand transition was "intended as a gradual switch in production."
This follows confirmation of plans by Pirelli to separate its industrial tire unit as Prometeon Tyre Group S.r.l (PTG) and Aeolous' announcement of its intentions to fully own PTG following its separation from Pirelli.