(Alliance News) - Ferrari NV announced Wednesday that Scuderia Ferrari HP has signed an extension of its historic partnership with Philip Morris International, a collaboration that spans more than 50 years.
The new agreement also covers the Ferrari Challenge Trofeo Pirelli and strengthens a relationship based on innovation, research, and long-term vision, as explained by the Maranello-based company.
As part of the evolution of the partnership, PMI's ZYN brand will appear on the livery of the Formula 1 car at selected Grand Prix races, starting with this weekend's race in Abu Dhabi.
Commenting on the renewal, Lorenzo Giorgetti, Ferrari's Chief Racing Revenue Officer, emphasized that "Ferrari has always valued partnerships based on innovation, responsibility, and a vision oriented towards continuous improvement, with an eye to the future."
"Our renewed collaboration with PMI is a concrete expression of this approach and continues a relationship that has lasted for over fifty years, based on scientific progress and a long-term perspective."
"As PMI continues to develop smoke-free alternatives, we are proud to evolve together, combining our shared values of excellence, discipline, and innovation to promote progress on and off the track," Giorgetti concluded.
Ferrari's stock is up 0.8% to EUR333.80 per share.
By Antonio Di Giorgio, Alliance News reporter
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