Pirelli, Rosneft and Synthos move to next phase of synthetic rubber cooperation

On 22 October, Pirelli, Rosneft and Synthos signed a further Memorandum of Understanding (MoU) regarding the next phase of their synthetic rubber cooperation. The MoU refers to the approval of the results of an initial feasibility study begun in April regarding the development of a synthetic rubber plant construction project in Nakhodka. The document was signed during the Fourth Eurasian Forum in Verona by Rosneft chairman of the management board Igor Sechin, Pirelli executive vice chairman and CEO Marco Tronchetti Provera, and Synthos majority stakeholder Michal Solowow.

As well as analyzing the possibility of a joint venture between Rosneft and Synthos in the area of synthetic rubber production in Nakhodka, later stages of the agreement would see the implementation of joint Pirelli R&D in the area of tyre materials. Ultimately, Pirelli would become the key customer for the synthetic rubber.

Following the signing, Igor Sechin said: “…In particular, the agreement that we have signed…with two recognized global leaders in high-end technology for synthetic rubber and tyre production will allow us not only to build the most advanced synthetic rubber plants as part of our FEPCO development in Nakhodka, but also to successfully supply Chinese and other Asian automotive tyre markets for years to come.”

Marco Tronchetti Provera said: “We are pleased to be moving forward with Rosneft and Synthos on this project, greatly encouraged by the positive results of the feasibility study. Pirelli’s involvement in the process of developing this advanced regional production hub, both on the R&D side and eventually as a key customer, underlines our belief in and commitment to the entire Russian market.”