Prometeon Tire Group, which produces and markets Pirelli brand truck, bus, agricultural and OTR tires, has signed a commercial agreement with Italian company Iveco Defence Vehicles. The partnership calls for Prometeon to develop and supply Pirelli tires for new generation defense vehicles.

"This important collaboration agreement with a leading manufacturer of industrial sector vehicles underscores Prometeon’s consolidated process of high technology tire development," says Prometeon. "The close interaction between the R&D department and the client allows the development of the best products, which satisfy the severe and diverse application demands of any type of vehicle."

The new Pirelli MG:01 tire, in size 265/70R19.5, was specifically developed at the Prometeon Tire Group’s Research & Development center in Milan in the context of this development partnership. The MG:01 has a tread compound that is compatible with traditional road, off-road and snowed-under conditions, delivering maximum performance and optimal drivability for any type of use, according to the company. The acronym MG indicates the operational characteristics of the new tire: M for Multipurpose (both for the steer and drive axles) and G for On-Off Road applications.

On April 1, 2017, Pirelli & Cie SpA changed the name of Pirelli Industrial Srl, its commercial tire enterprise, to Prometeon Tyre Group Srl. The move was the last step in officially separating its commercial tire business from its consumer tire activities. In its 20016 annual report, Pirelli split the businesses into two "in order to ensure an autonomous growth path and independent group strategies."

Prometeon Tire Group produces Pirelli brand commercial tires at four factories: two in Brazil, one in Egypt and one in Turkey. More than 7,000 people work at Prometeon, a company that until March of 2017 operated inside the Pirelli group with the name Pirelli Industrial.

The group is 52% controlled by TP Industrial Holding (100% controlled by Marco Polo International Italy, also the controlling shareholder of Pirelli), 38% by CINDA (a Chinese international investment company) and 10% by Aeolus (a Chinese company that produces Industrial tires).