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Italian tire concern Pirelli plans extensive cooperation with Rosneft

The production of synthetic rubber in Nakhodka and further supplies within the framework of the Eastern Petrochemical Company project (VNHK, a planned Rosneft project), as well as the expansion of cooperation in general, were discussed by the head of Rosneft Igor Sechin and Pirelli Managing Director Marco Tronchetti Provera, reported on the site of "Rosneft".

The parties also considered the strategy for the further development of the project on trade and marketing in Russia.

Earlier it was reported that the structures of "Rosneft" are working with the Camfin company (which is the holder of a 26,19% stake in Pirelli) to enter into the share capital of Pirelli. At the moment, the necessary corporate decisions have been made, the deal has been prepared, and can be implemented upon obtaining permission from the regulatory authorities.

The Italian tire concern Pirelli owns 22 production sites and sells its products in 160 countries of the world.

In Russia, Pirelli owns 65% in a joint venture with Rostec State Corporation - Pirelli Tire Russia, which owns Voronezh Tire Plant and Kirov Tire Plant. At the end of 2011, the joint venture acquired these assets from SIBUR.

Also last year, Rosneft and Pirelli signed a letter of intent, according to which it was planned to open a premium tire store in the perimeter of the new flagship gas station of NK in Sochi. The document provides for the opening of other retail outlets for Pirelli products.

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