MILAN, Italy — Pirelli & Co. S.p.A. has launched a series of "value generating" programs that will include a brand-change project at Aeolus Tyre Co. Ltd.
Both companies are owned by China National Chemical Corp. (ChemChina).
In its first quarter statement released at the end of May, the Italian tire maker said one of the measures would convert Aeolus capacity into Pirelli brand production and expedite the development of the business in China.
In response to a question from European Rubber Journal, a sister publication of Tire Business, 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 Srl (PTG) and Aeolous' announcement of its intentions to fully own PTG following its separation from Pirelli.