19
June
2006
|
19:04
Europe/Amsterdam

Pirelli Tyre S.p.A: maximum price of the Italian Public Offering at 9 euro per share

ITALIAN PUBLIC OFFERING FROM 21 TO 30 JUNE
Milan, 19 June 2006 - As a part of the Global Offering aimed the listing of Pirelli Tyre S.p.A on the Mercato Telematico Azionario (Milan Stock Exchange) organized and run by Borsa Italiana, the maximum price of the shares of the Company, for the Italian Public Offering has been set at 9 euro per share.

The Italian Public Offering will begin on 21 June at 9.00amand will end on 30 June 2006 at 04.30pm .

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PIRELLI TYRE S.P.A (information on the Company)

Pirelli Tyre S.p.A is the parent company that has been actively involved for over a century in the design, development, production and sale of tyres for various types of automobiles (cars, sport utility vehicles (SUVs) and light commercial vehicles (vans)), motorcycles, buses, trucks and earth-moving and agricultural equipment. The Pirelli Tyre Group is the world's fifth largest tyre company in terms of sales value worldwide with a production platform consisting of 24 facilities located in 12 countries ( Argentina , Brazil , China , Egypt , Germany , England , Italy , Romania , Turkey , Spain , the United States of America and Venezuela ) and a commercial network extending to over 160 countries. In 2005, the Pirelli Tyre Group's activities generated sales of approximately euro 3.63 billion and the Group employed almost 24,000 people at year end.
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The Pirelli Tyre Group offers a wide range of tyre products, with a strong focus on the high-performance and ultra-high performance market segments. Such premium products entail greater technological input and performance requirements in terms of dynamic safety, performance at high speeds and severe treatment in various road conditions. Drawing on its technological know-how, the Group has focused its energies in recent years on these high-growth segments, achieving a leadership position. This position has allowed the Group to develop consolidated cooperation with the most prestigious international car and motorcycle manufactures and to establish the Pirelli brand worldwide as a synonym for quality and high performance.
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The Group's operations are divided into two lines of business: Consumer and Industrial. The Consumer line generally comprises tyres for vehicles for personal use and includes passenger cars, SUVs, vans and motorcycles. The Industrial line comprises tyres for vehicles used for commercial transportation of goods or people and includes buses, trucks and earth-moving and agricultural equipment. The Industrial line also includes the production of steelcord, an essential reinforcement component used in the production of radial tyres. Each business line in turn flows into two sales channels: the original equipment channel, which is aimed directly at vehicle manufactures, and the replacement channel, which provides replacement tyres for vehicles already on the road.
The Group dedicates constant attention and significant resources to research and innovation in order to maintain a position at the leading edge of product and process improvement. With regard to products, since the launch of the Cinturato Pirelli in the 1950s, the Group has been a driving force behind the continuous evolution of the radial tyre, culminating in the introduction of the low-profile range in the 1970s. Low-profile technology has since been progressively adopted by the rest of the global automotive industry. With regard to process, the Group developed and patented a number of important innovations, such as the automated MIRS system ( Modular Integrated Robotized System ) for the production of high performance tyres and the CCM ( Continuous Compound Mixing ) process for the testing of innovative mixtures and materials. Pirelli's technological excellence has been highlighted by a number of victories in motorsport competitions.

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