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Posts tagged to rubber

ChemChina move into the fast lane with Pirelli tires purchase

MarketLine

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