Pirelli & C. S.p.A. is converting production at Aeolus Tire Co. Ltd.'s passenger tire plant in Jiaozuo, China, to the Pirelli brand from the Aeolus brand following an investment program there.
Pirelli disclosed the change in its third-quarter financial results. The company had indicated in its first-quarter results that this change was in the works.
The Milan-based company, which now is solely focused on passenger car tires, said a program was under way at the Jiaozuo Aeolus car tire factory to carry out a "digital transformation and the reconversion" at the facility.
The reconversion is aimed at accelerating development in China, an area which Pirelli said "will be the motor of world growth of the high-value segment."
The move is part of Pirelli's series of "value-generating" programs for the medium-term following its rebranding as a premium passenger car tire manufacturer, two years after its acquisition by ChemChina.
With the acquisition, ChemChina-owned tire maker Aeolus has taken majority control of Prometeon Tyre Group S.r.l., formerly the industrial tires division of Pirelli.
