Editing Pirelli (section)

==History==
Founded in [[Milan]] in 1872 by Giovanni Battista Pirelli (1848–1932), the company initially specialised in [[rubber]] and derivative processes and also made scuba [[diving rebreather]]s and [[dry suit]]s used by Italian frogmen during World War II.<ref name=rebreather>{{Cite tech report|last1=Coates|first1=J. K.|last2=Kincaid|first2=T. C.|last3=Lanphier|first3=E. H.|title=Evaluation of the Pirelli Underwater Oxygen Breathing Equipment for Use in the Naval Service |publisher=Navy Experimental Diving Unit Technical Report|volume=NEDU-RR-2-52|date=1952-01-28|url=https://archive.org/details/foia-2023-517-ad-0784176|access-date=14 October 2023}}</ref><ref>{{cite journal|first=F. K. Jr.|last=Butler|title=Closed-circuit oxygen diving in the U.S. Navy|journal=Undersea & Hyperbaric Medical Society Journal|date=2004|volume=31|number=1|page=9|pmid=15233156}}</ref><ref>{{cite web|url=http://www.therebreathersite.nl/Zuurstofrebreathers/Italian/pirelli_diving_suit.htm |title= Pirelli diving suit |first=Jan-Willem |last=Bech |website=www.therebreathersite.nl |access-date=13 October 2024 }}</ref> Thereafter, Pirelli's activities were primarily focused on the production of [[Tire|tyre]] and [[Electrical cable|cable]]s (for [[energy]] and [[telecommunications]]). In 2005, Pirelli sold its cable division to [[Goldman Sachs]], which changed the new group's name to [[Prysmian]]. In the 1950s, Alberto Pirelli commissioned the building of a skyscraper, [[Pirelli Tower]], in the same Milanese area that housed the very first Pirelli factory during the 19th century.<ref>{{cite book|first=Antonino|last=Terranova|editor-first=Valeria|editor-last=Manferto De Fabianis|title=Skyscrapers|language=en,it|location=Vercelli|publisher=White Star|year=2003|isbn=88-8095-230-7}}</ref>

In 1974, Pirelli invented the "wide [[radial tyre]]", upon a request from the [[Lancia]] rally racing team for a tyre strong enough to withstand the power of the new [[Lancia Stratos]]. At that time, racing tyres were either [[slick tyre]]s made with the [[cross ply]] technique (very wide tyres with a reduced sidewall height), or [[radial tyre]]s, which were too narrow to withstand the Stratos' power and did not provide enough grip. Both were unusable for the Lancia Stratos, as the radials were destroyed within 10&nbsp;km, and the slicks too stiff. Lancia asked Pirelli for a solution, and in 1975 Pirelli created a wide tyre with a reduced sidewall height like a slick but with a radial structure. Subsequently, Porsche started using the same tyres with the [[Porsche 911 Turbo]]. In 1988, Pirelli acquired the Armstrong Rubber Company, which was headquartered in [[New Haven, Connecticut]], US for $190 million.<ref>{{cite web |url=http://connecticuthistory.org/armstrong-finds-a-niche-in-the-tire-market |title=Armstrong Finds a Niche in the Tire Market |date=7 September 2013 |publisher=Connecticut Humanities |access-date=22 July 2015 |archive-date=23 July 2015 |archive-url=https://web.archive.org/web/20150723130936/http://connecticuthistory.org/armstrong-finds-a-niche-in-the-tire-market/ |url-status=live }}</ref>

In 2000, Pirelli sold its terrestrial fibre optic cables business to [[Cisco]] and its optical components operations to [[Corning Inc.|Corning]], for 5 billion euro.<ref>{{Cite news|url=https://www.cnet.com/news/cisco-taps-pirelli-for-optical-technology/|title=Cisco taps Pirelli for optical technology|work=CNET|access-date=31 May 2017|language=en|archive-date=29 July 2017|archive-url=https://web.archive.org/web/20170729011212/https://www.cnet.com/news/cisco-taps-pirelli-for-optical-technology/|url-status=live}}</ref> It invested, through Olimpia, part of the resulting liquidity to become a majority shareholder in [[Telecom Italia]] in 2001,<ref>{{Cite news|url=https://www.theguardian.com/business/2001/jul/30/citynews.media|title=Pirelli seizes Telecom Italia|last=Hepher|first=Tim|date=30 July 2001|work=The Guardian|access-date=31 May 2017|language=en-GB|issn=0261-3077|archive-date=29 July 2017|archive-url=https://web.archive.org/web/20170729004147/https://www.theguardian.com/business/2001/jul/30/citynews.media|url-status=live}}</ref> maintaining this position until 2007.<ref>{{Cite news|url=http://www.ft.com/cms/s/0/c44c1ef6-d1d0-11db-b921-000b5df10621.html?ft_site=falcon&desktop=true#axzz4igYZpn9S|title=Tronchetti/Telecom Italia|date=14 March 2007|work=Financial Times|access-date=31 May 2017|issn=0307-1766}}{{dead link|date=March 2018 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> In 2002 the company started a range of Pirelli-branded clothing, watches and eyewear.<ref>{{Cite web |url=http://www.pirelli.com/corporate/en/company/brand/ind-design/default.html |title=Industrial Product Design - PIRELLI PZero: Industrial Design Project For Clothing |access-date=5 March 2014 |archive-url=https://web.archive.org/web/20140310104928/http://www.pirelli.com/corporate/en/company/brand/ind-design/default.html |archive-date=10 March 2014 |url-status=dead }}</ref> In 2005, Pirelli sold its Cables, Energy Systems and Telecommunications assets to [[Goldman Sachs]]<ref>{{Cite web|url=http://www.penews.com/magazine/analysis/content/content/541211/restricted|title=Goldman Sachs buys Pirelli Cables for €1.3bn|website=www.penews.com|access-date=31 May 2017|archive-url=https://web.archive.org/web/20170805124509/http://www.penews.com/magazine/analysis/content/content/541211/restricted|archive-date=5 August 2017|url-status=dead}}</ref> and the newly formed company was named [[Prysmian Group|Prysmian]]. In the same year, 2005, Pirelli opened its first tyre production plant in Shandong province, [[China]].<ref>{{Cite news|url=http://www.tyrepress.com/2005/10/pirelli-opens-first-tyre-plant-in-china/|title=Pirelli Opens First Tyre Plant In China|date=12 October 2005|work=Tyrepress|access-date=31 May 2017|language=en-US|archive-url=https://web.archive.org/web/20170729023142/http://www.tyrepress.com/2005/10/pirelli-opens-first-tyre-plant-in-china/|archive-date=29 July 2017|url-status=dead}}</ref> This was the beginning of the group's production complex in the country. In 2006, Pirelli chose [[Slatina, Romania|Slatina]] for its first tyre production plant in [[Romania]], expanding the facility in 2011.<ref>{{cite web|url=https://www.romania-insider.com/pirelli-to-turn-slatina-tyre-factory-in-romania-into-companys-biggest-plant-with-eur-160-mln|archive-url=https://web.archive.org/web/20210124031415/https://www.romania-insider.com/pirelli-to-turn-slatina-tyre-factory-in-romania-into-companys-biggest-plant-with-eur-160-mln|url-status=dead|archive-date=24 January 2021|title=Pirelli to turn Slatina tyre factory in Romania into company's biggest plant with EUR 160 mln|work=Romania Insider|access-date=18 June 2019}}</ref>

In 2010, Pirelli completed its conversion to a pure [[List of tire companies|tyre company]] by selling Pirelli Broadband Solutions<ref>{{Cite news|url=http://uk.reuters.com/article/pirelli-broadband-idUKLDE69B11H20101012|title=Pirelli to sell broadband ops by end-Oct-source|first1=Stefano|last1=Rebaudo|first2=Nigel|last2=Tutt|first3=David|last3=Holmes |work=Reuters UK|access-date=31 May 2017|language=en-GB|archive-date=29 July 2017|archive-url=https://web.archive.org/web/20170729051650/http://uk.reuters.com/article/pirelli-broadband-idUKLDE69B11H20101012|url-status=dead}}</ref> and spinning off the real estate assets of Pirelli Re.<ref>{{Cite news|url=http://uk.reuters.com/article/pirelli-idUKLF59813520091026|title=DEALTALK-Pirelli seen reviving tyre, real estate split|first1=Nigel|last1=Tutt|first2=Sitaraman|last2=Shankar|work=Reuters UK|access-date=31 May 2017|language=en-GB|archive-date=29 July 2017|archive-url=https://web.archive.org/web/20170729051653/http://uk.reuters.com/article/pirelli-idUKLF59813520091026|url-status=dead}}</ref> Fondazione Pirelli was established in the same year to safeguard and celebrate the company's past and to promote business culture as an integral part of Italy's national cultural assets. In March 2015, it was announced that Pirelli shareholders had accepted a €7.1 billion bid from ChemChina, together with Camfin and LTI, for the company.<ref name="Guardian">{{cite news |title=ChemChina makes €7.1bn bid for Pirelli |url=https://www.theguardian.com/business/2015/mar/23/chemchina-makes-71bn-bid-for-italy-pirelli-tyre-maker |access-date=23 March 2015 |work=The Guardian |agency=Reuters |date=23 March 2015 |archive-date=25 March 2015 |archive-url=https://web.archive.org/web/20150325005006/http://www.theguardian.com/business/2015/mar/23/chemchina-makes-71bn-bid-for-italy-pirelli-tyre-maker |url-status=live }}</ref> The transaction was completed and the company was delisted in November 2015.<ref name="Delisting">{{cite web| url=https://www.pirelli.com/corporate/en/investors/share_info/default.html| title=PIRELLI Shares – Information for Shareholders| date=November 2015| publisher=Pirelli| access-date=6 December 2015| archive-url=https://web.archive.org/web/20151208131643/https://www.pirelli.com/corporate/en/investors/share_info/default.html| archive-date=8 December 2015| url-status=dead}}</ref> In May 2017, it was announced that Pirelli returns to the world of cycling with a new road cycling tyre range, P ZERO Velo.<ref>{{Cite news|url=http://www.cyclist.co.uk/news/2795/pirelli-returns-to-cycling-with-new-road-tyres|title=Pirelli returns to cycling with new road tyres|work=[[Cyclist (magazine)|Cyclist]]|access-date=31 May 2017|language=en|archive-url=https://web.archive.org/web/20170616102623/http://www.cyclist.co.uk/news/2795/pirelli-returns-to-cycling-with-new-road-tyres|archive-date=16 June 2017|url-status=dead}}</ref> In September 2017, the company announced its intentions to sell up to 40 per cent of its equity capital in an initial public offering as it plans to return to the Milan stock exchange in October.<ref>{{Cite news|url=https://www.reuters.com/article/us-pirelli-ipo/tiremaker-pirelli-to-offer-40-percent-of-share-capital-in-upcoming-ipo-idUSKCN1BF0JP|title=Tyremaker Pirelli to sell 40 percent stake in Milan market comeback|date=4 September 2017|work=Reuters|access-date=7 September 2017|archive-date=11 September 2022|archive-url=https://web.archive.org/web/20220911123225/https://www.reuters.com/article/us-pirelli-ipo/tiremaker-pirelli-to-offer-40-percent-of-share-capital-in-upcoming-ipo-idUSKCN1BF0JP|url-status=live}}</ref> In March 2019 Pirelli announced a new range of mountain biking tyres, called Scorpion. In 2021, Pirelli introduced 18-inch tyres for the new aerodynamic and technical changes for 2022 in [[Formula One]].<ref>{{Cite web|date=16 August 2021|title=New era in Formula 1: Pirelli introduced 18-inch tires for 2022 cars|url=https://sport-journal.com/new-era-in-formula-1-pirelli-introduced-18-inch-tires-for-2022-cars/|access-date=16 August 2021|website=Sport-Journal.com|language=en|archive-date=16 August 2021|archive-url=https://web.archive.org/web/20210816205445/https://sport-journal.com/new-era-in-formula-1-pirelli-introduced-18-inch-tires-for-2022-cars/|url-status=dead}}</ref> As of May 2024, Pirelli has a market capitalisation of $6.69 billion. On May 29, 2024 [[Silk Road Fund]] began the total sale of its shareholding.<ref>{{cite news |title=Pirelli: Silk Road avvia cessione 9% capitale, prezzo a sconto 8% su Borsa |url=https://www.ilsole24ore.com/radiocor/nRC_29.05.2024_18.59_63610636 |access-date=29 May 2024 |agency=ilsole24ore.com |publisher=ilsole24ore.com |date=29 May 2024}}</ref>
On May 30, 2024, the share price fell as a result of the sale of the entire stake of Silk Road Fund. While Tronchetti Provera's Camfin strengthened its shareholding together with other Italian investors.<ref>{{cite news |title=Camfin alza la difesa in Pirelli, ma i cinesi interpellano la Consob. Che cosa accade |url=https://www.milanofinanza.it/news/camfin-alza-la-difesa-in-pirelli-ma-i-cinesi-interpellano-la-consob-202405302154503225?refresh_cens |access-date=30 May 2024 |agency=milanofinanza.it |publisher=milanofinanza.it |date=30 May 2024}}</ref>