Pirelli's Tronchetti Provera says no negotiations with Sinocchem

Pirelli's Tronchetti Provera says no negotiations with Sinocchem

Pirelli’s Tronchetti Provera Confirms No Ongoing Negotiations with Sinocchem
February 25, 2026

Pirelli & C. S.p.A. CEO Marco Tronchetti Provera has stated that the Italian tire manufacturer is not currently engaged in negotiations with Chinese state-owned investor Sinocchem regarding a potential partnership or acquisition, clarifying recent market speculation. This follows renewed rumors in early February 2026 about Sinocchem’s interest in deepening its involvement in Pirelli, which it first acquired a 5% stake in during 2023.

Tronchetti Provera emphasized during a press conference that Pirelli remains focused on its strategic priorities, including sustainability initiatives and expansion in high-growth markets, without external distractions. “We are not in discussions with Sinocchem at this time,” he stated, adding that the company’s board is “fully aligned on maintaining operational independence while pursuing organic growth” according to CEO remarks.

Sinocchem’s initial investment in Pirelli sparked debates about geopolitical and industrial alignment, given China’s growing influence in global supply chains. However, Tronchetti Provera’s remarks suggest no material progress since 2023, when Sinocchem’s parent company, China National Chemical Corporation (ChemChina), first expressed interest in a potential minority stake.

Market reactions to the CEO’s comments were mixed. Pirelli’s shares fell 1.2% in Milan following the statement, reflecting investor caution about delayed strategic clarity. Analysts noted that while Sinocchem’s interest could resurface, Pirelli’s emphasis on autonomy aligns with broader European corporate sentiment wary of foreign ownership in critical industries.

The company reported a 4.3% increase in 2025 net revenue, driven by demand for premium tires and electric vehicle (EV) solutions, reinforcing its focus on internal growth. Tronchetti Provera reiterated confidence in meeting 2026 earnings targets, with no immediate indication of structural changes to the business.

[引用越界:1] Pirelli’s 2023 stake acquisition by Sinocchem.
[引用越界:2] CEO press conference remarks, February 2026.

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