Posts tagged to chemchina

ChemChina move into the fast lane with Pirelli tires purchase

Posted on 27 March 2015 by MarketLine HQ 0 comments

The announcement of the proposed acquisition of Italian tire maker Pirelli by China National Chemical Corp (ChemChina), a state owned chemical company, on March 23rd marks a significant move in the global tires industry. While Pirelli is an attractive business in itself, recording net profits of $414m in 2014 and boasting a strong balance sheet, there are a three key reasons motivating ChemChina’s takeover. Firstly, Pirelli’s focus on high performance car and motorcycle tire segments means the business has a wealth of technological knowledge and research and development (R&D) capability… Read more

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