May 7 (GMM) Pirelli is targeting a "long term" presence in formula one, the Italian company's president said in Turkey on Saturday.

Marco Tronchetti Provera met at Istanbul Park with the formula one drivers and afterwards posed for a photograph, the BBC reported during morning practice.

He told reporters Pirelli had "achieved" its target so far but suggested that a longer future than the initial three-year contract as official supplier is likely.

"If it is a formula that is not too costly, we are ready to continue," Reuters quotes him as saying.

The report also said Provera would be open to a tyre war, such as the one between Bridgestone and Michelin that ended in 2006.

"We are open. It's always a question of costs. It can be challenging," he added.

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