Following its appointment as the sole tyre supplier for F1 for the next three seasons, Pirelli has issued the following statement.

Pirelli has been confirmed as the official tyre supplier to the Formula One World Championship for a three-year period between 2011 and 2013.

The FIA, the Teams, represented by FOTA, Formula One's organising body, represented by FOM have chosen Pirelli as their exclusive supplier, based on the specific proposals from the Italian company to guarantee technical and operational stability to the competitors.

Following current Formula One regulations laid down by world motorsport's governing body, the FIA, the new contract ensures that Pirelli will provide teams with six different types of tyre for the season: four slicks, with different compounds for various types of dry surfaces, one rain tyre for heavy rain, and one intermediate tyre for damp conditions or light rain.

The current economic climate has led to a realistic and collaborative approach with all the teams, ensuring that manufacturing and logistical costs are shared fairly.

Pirelli's return to Formula One also has a firm eye on the future, as in full collaboration with all the teams, research into innovative new tyre developments is a vital part of this exciting programme.

Pirelli will also supply the GP2 Series – the acknowledged stepping-stone to Formula One – for the three-year period between 2011-2013.

Pirelli's latest participation at the highest levels of single-seater racing makes a welcome addition to the Italian firm's other motorsport activities including, from this year, a tyre supply agreement for the inaugural GP3 series. Pirelli will consequently become the single supplier to all the most prestigious racing championships in the world from 2011.

Pirelli is planning to make important investments in corporate communications, in order to make the most of the high profile and cutting-edge technology that go hand in hand with supplying Formula One, using resources and budget that has already been set aside for this purpose.

This communications campaign will principally help to support Pirelli's increasing profile in emerging markets: Latin America, the Middle East and Asia Pacific, which are all areas frequently visted by Formula One.

Consequently Formula One will become a vital calling card for the Pirelli brand, helping its commercial and industrial expansion without disrupting the company's long-term financial strategy.

The global visibility guaranteed through extensive media interest in Formula One, together with dynamic plans to leverage Pirelli's involvement in an activity central to the company's core business, represents a unique opportunity for the brand to maximise its return on investment.

This new Formula One agreement crowns Pirelli's historic involvement in world motorsport, which dates back to 1907 when the Italian fim won the epic Paris-Peking road race. Pirelli currently exclusively supplies some of the most important World Championships for both cars and bikes, such as the GP3 series, the World Rally Championship, the Rolex Sports Car Series in North America, the World Superbike Championship, and the Motocross World Championship.