Published on May 22, 2014

Rosneft, Pirelli discuss SR cooperation

Crain News Service report

MOSCOW (May 22, 2014) — Russia’s Rosneft Oil Co., which is part of a consortium that owns a minority stake in Pirelli & C. S.p.A., has held further talks with Pirelli about cooperation in synthetic rubber production in Russia.

Rosneft President and Chairman Igor Sechin met recently in Moscow with Pirelli top management — including CEO Marco Tronchetti Provera — to discuss issues related to expanding their cooperation in SR production in Nakhodka, Russa, and further supplies within the Far East Petrochemical Co. project.

The parties also reviewed the strategy of developing Pirelli’s sales and marketing in Russia. The parties agreed in early 2013 to set up Pirell-branded auto service stations through Rosneft’s filling station network.

“The strategic relationship of the companies and noted progress in implementation of projects in Russia provide room for expansion of cooperation in R&D and supply fields in the world market, where both companies, being global players, have firm positions,” Rosneft said May 18 in a prepared statement.

Pirelli declined to comment on the Rosneft statement, which also mentioned Rosneft’s continuing negotiations with Intesa Sanpaolo, Unicredit, Clessidra and Nuove Partecipazioni to finalize binding agreements regarding contracts relative to their purchase of what amounts to a 13-percent stake in Pirelli.

 

 

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