Pirelli continues Sinochem stake reduction talks

On the evening of 27 March, Pirelli CEO Andrea Casaluci stated that “Pirelli’s management will continue to work on finding a solution that will allow the company to adapt to the new regulations of the American market, as it does in all the markets in which it operates”. That statement follows reports that Pirelli’s board is calling for Sinochem to reduce its stake in the well-known tyremaker due to fears that too close an association with China could hamper Pirelli’s international growth, especially in the USA where President Trump has fired several volleys in a trade war designed to protect US manufacturing and wider economic interests.