Aeolus Tyre 'entrusted' with control over Prometeon Jane Ho, China correspondent Print JIAOZUO, China — China National Tire & Rubber Co (CNRC) has "entrusted" a 52% ownership stake in Prometeon Tyre Group to Aeolus Tyre Co. Ltd., CNRC said Dec. 1, in an effort to "further solve the problem of horizontal competition between Aeolus and Prometeon." Aeolus owns 10% of the corporate capital of Prometeon, the Milan, Italy-based commercial tire company that was spun out of Pirelli & C. S.p.A. in April 2017 and controls the Pirelli brand in terms of truck, bus, farm and OTR tires. CNRC — through TP Industrial Holding, a company controlled by CNRC — continues to hold 52% of Prometeon’s corporate capital and such ownership is not affected by the envisaged transaction. The remaining 38% is held by High Grade (HK) Investment Management Ltd.