|Bid||5.76 x 0|
|Ask||5.82 x 0|
|Day's Range||5.60 - 5.75|
|52 Week Range||5.35 - 7.66|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||12.91|
|Forward Dividend & Yield||0.18 (3.13%)|
|1y Target Est||N/A|
Pirelli has signed a new four-year deal to remain Formula One's sole tyre supplier until the end of the 2023 season, the sport announced in a statement on Sunday. "We are delighted to have reached this agreement, which guarantees a long-term stable future for such a crucial component of Formula One," Formula One chairman Chase Carey said. The current deal was due to expire at the end of 2019 and the governing FIA said last September that more than one company had tendered, although Pirelli's French rival Michelin had ruled itself out.
Manufacturer Pirelli (PIRI.UL) said on Friday it had ceased operations in Venezuela, selling its car tire factory for an unspecified amount and adding to the flood of foreign businesses abandoning the crisis-wracked country. Pirelli, owned by Chinese state-owned firm ChemChina (CNNCC.UL), said the sale to a consortium of South American entrepreneurs and the firm Sommers International would have no financial impact. Pirelli's plant in the city of Valencia has been closed since early last week, when about 100 of its 700 employees protested outside after finding the gates locked.
About 100 workers protested outside tire manufacturer Pirelli's Venezuela plant on Monday after finding the gates locked, ten days after the country announced a broad set of reforms including a massive hike in the minimum wage. Employees were not told the plant would be shut, said union leader Luis Alvarez, who added it was not immediately known if it was temporary or if the operation had permanently closed its doors. "Production was falling, but they always kept us on the job," said worker Nicolas Altomaris, who was waiting at a gate for information.
Tyremaker Pirelli will co-sponsor America's Cup challenger Luna alongside luxury fashion house Prada, backing the Italian team's attempt to beat holders Emirates Team New Zealand in 2021. "Pirelli is the ideal partner for this new America's Cup challenge," Luna Rossa chairman Patrizio Bertelli said in a statement released by the two Italian companies on Monday. The next edition of sailing's most prestigious cup will be held in Auckland, New Zealand and involves teams designing and building revolutionary new AC75 monohulls which will be able to "foil" at high speeds above the water.
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