News Details
Pirelli bought out by Chinese state owned company
State-owned China National Chemical, or Chem China has bought Formula 1's official tyre supplier Pirelli and secured control of the Milan-based company valued at over 7 billion. According to Forbes, the deal 'will put 140 years of Italian tradition and research and development at the service of the huge Chinese market'. Pirelli chief executive Marco Tronchetti Provera, however, will keep his role. 'But the new paymaster,' explained Forbes correspondent Marcel Michelson, will be a man who 'reports to China's State-owned Asset Supervision and Administration Commission, headed by Zhang Yi who sits on the central committee of the communist party'. Reports on GrandPrix247.com by: staff &...
Full Story »
Full Story »
11y ago from GrandPrix247.com
0
You May Also Be Interested In...
Pirelli to be sold to Chinese company
F1 tyre supplier Pirelli is set to come under new Chinese ownership after...
11y ago from Crash.net
China's ChemChina to buy Pirelli for £5.1bn
Formula 1's official tyre supplier, Pirelli, is set to change hands next...
11y ago from GrandPrixTimes.com
Pirelli to be bought by Chinese firm
– China National Chemical Corporation (ChemChina) has agreed to buy...
11y ago from GPUpdate.net
ChemChina to buy Pirelli for $7.7 billion
China National Chemical Corp (ChemChina) is to buy the world's...
11y ago from ThisIsF1.com
Elsewhere On The Network
Popular On MGPToday.com
Fabio Quartararo: Yamaha ‘has no idea’ how to fix...
No description available...
9h ago from Motorsport.com
Marco Bezzecchi ‘wasn’t expecting’ Aprilia COTA...
Marco Bezzecchi admitted he “wasn’t expecting” a record-breaking...
10h ago from MotorsportWeek.c...
Winners and losers from MotoGP’s United States GP
No description available...
14h ago from Motorsport.com
What happened in Marco Bezzecchi and Pedro Acosta’s...
No description available...
13h ago from Motorsport.com
Popular On IndyCarToday.com
Pato O’Ward left searching for answers after...
No description available...
7h ago from Motorsport.com
Christian Lundgaard left frustrated by costly pit stop...
Christian Lundgaard finished second in Sunday’s IndyCar race from...
12h ago from MotorsportWeek.c...
David Malukas “learned a lot” with tire strategy...
No description available...
8h ago from Motorsport.com
Mick Schumacher: “I thought I was ready — but I...
No description available...
1d ago from Motorsport.com
Popular On TotalWRC.com
Former FIA vice president and WRC boss Morrie Chandler...
No description available...
1d ago from Motorsport.com
Subaru teases new rally car for Japanese Championship
No description available...
4d ago from Motorsport.com
How Toyota’s new flying Finn is starting to make WRC...
No description available...
4d ago from Motorsport.com
Takamoto Katsuta backs Kalle Rovanpera to “come back...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Arsenal could leapfrog Man United for Elliot Anderson...
Manchester United’s top summer transfer target, Elliot Anderson, has...
2h ago from CaughtOffside.com
Arsenal make first move for 17-goal star but Tottenham...
German striker Nicolo Tresoldi is a target for Arsenal and Tottenham ahead...
2h ago from CaughtOffside.com
Man United eye perfect Casemiro replacement with move...
Leon Goretzka has been heavily linked with a move away from Bayern Munich...
7h ago from CaughtOffside.com
“It made absolutely no sense” - Tuchel makes...
England manager Thomas Tuchel has revealed that Arsenal duo Declan Rice...
11h ago from SportsKeeda.com
Comments
Hottest News
Honda reveal stunning new Aston Martin detail which changes...
A revelation from Honda's president made during... Read More »
7h ago from GPFans.com
Max Verstappen at scene of Japanese GP media pen damage
Max Verstappen isn't just an F1 driver. He's also... Read More »
3h ago from GPFans.com
No Max Verstappen as Tsunoda steps in for F1 testing in...
There will be no Max Verstappen when Red Bull... Read More »
3h ago from GPFans.com
