Finance
Pirelli boss says issues with China's Sinochem will be fixed
Published by Global Banking & Finance Review®
Posted on June 20, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 20, 2025
1 min readLast updated: January 23, 2026
Pirelli's Marco Tronchetti Provera is optimistic about resolving tensions with Sinochem, its main shareholder, which impact US expansion plans.
MILAN (Reuters) -Pirelli chief Marco Tronchetti Provera said on Friday the tensions at the tyremaker involving China's state-controlled Sinochem, its main shareholder, are on the way to being resolved.
Sinochem, which owns a 37% stake, has crossed swords with the company and its second largest shareholder Camfin, which claim that a large Chinese presence in Pirelli poses a threat to its ambitions to expand its business in the United States.
Tronchetti Provera, Pirelli's executive vice chairman, controller of Camfin and de facto top boss, said at a conference in Milan that the company was on the right track towards a positive outcome.
(Reporting by Gianluca Semeraro, writing by Gavin Jones, editing by Alvise Armellini)
The main issue involves tensions between Pirelli and its largest shareholder, China's Sinochem, which owns a 37% stake in the company.
Marco Tronchetti Provera expressed confidence that the issues with Sinochem are on the way to being resolved and that the company is on the right track.
The key stakeholders in the conflict are Sinochem, Pirelli's main shareholder, and Camfin, Pirelli's second largest shareholder.
Tronchetti Provera discussed the company's outlook at a conference in Milan.
Sinochem owns a 37% stake in Pirelli.
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