China Chemical's purchase of Pirelli, Italy's top tire manufacturer, has now settled. But everything is due to a phone call three years ago. The head of the phone is Ren Jianxin, chairman and general manager of China National Chemical Corporation. Ren Jianxin expressed to the President of Pirelli Group Marco Troncetti Provera on the phone his wish to visit the factory. The Chinese entrepreneur has a strong desire to acquire this Italian company, and he only revealed it after he visited the production bases in Milan, Bicolca and Turin. Ren Jian was born in Lanzhou, Gansu, started from a cleaning professional company, and finally formed a chemical company with another chemical company, and was appointed as the chairman and general manager by the central government. In the meeting with Trondevity, Ren Jianxin disclosed to the former to his hard working experience and revealed the human side of the Chinese people who are less exposed when they interact with others.
Ren Jianxin, Chairman and General Manager of China National Chemical Corporation
We say no to Yokohama, Hankook tires
Troncetti has always been committed to operating the Pirelli Group more securely and to avoid being eroded by industry peers on the premise of ensuring long-term operations. Tronchai's development strategy is to turn its eyes to the strong Asian market, so it has consulted with Yokohama Tire and Hankook Tire. However, after visiting the production bases of the two tire dealers, they unexpectedly chose China Chemical Industry. His reason is very simple: China Chemical is not a competitor and has strong capital and unlimited potential. Its alliance will effectively increase the value of the “industrial†part of Pirelli, which is equivalent to one third of the Group’s output, Sales. The business of Fengshen Tire, a subsidiary of China National Chemical Corporation, is concentrated in the heavy-duty truck industry. Pirelli can improve product quality and products by providing technology. For Sinochem, this means that Fengshen Tire will become the world's top tire manufacturer (from 28th to 4th and 5th in the world), and it will also provide the development of the Pirelli Group. This is undoubtedly a win-win strategy.
Avoiding the declining situation of Sumitomo Tire after being acquired by Goodyear
The conflict with Mara Karza has prompted Tron Katie to choose China Chemicals as an allegiance because he has avoided repeating the mistakes made after the brand was acquired. Take Goodyear as an example. After its acquisition of Sumitomo Tire, the latter quickly collapsed. This is exactly what Trochetti hoped to avoid. At the same time, the Mala Karza family also entered the board of Pirelli and agreed with the plan. However, the Mala Karza family began to clash with the top of the board of directors. During that period, the Chinese side had been observing changes. After the shareholders were almost changed, Russian Rosneft entered the board of directors and Sinochem entered Pirelli's vision again at this time.
Russian Rosneft company implicated for Ukrainian issues
Russia and Ren Jianxin understand Pirelli’s long-term plan and agree with it. However, Russia’s Rosneft was implicated in the United States’ sanctions against Russia for the Ukrainian issue. Trotkatie had to rush to Washington to explain to the U.S. State Department that Russia’s Rosneft is only an industrial ally of the Pirelli Group and has nothing to do with national security.
From October 2014, all parties started close cooperation on the acquisition of Pirelli
Russia's Rosneft company still remains with the Italian directors in the board of directors of China Chemical Holdings, this detail can not be ignored. Tronchai successfully created the tripartite situation of China, Russia and Italy under the curatorial arrangements of attorneys Michel Kapineri and Qioumonti, and the Mtp Bank Marc Samachia Think Tank, and avoided them. Changes in the structure of the board of directors. From October last year, the parties started close cooperation on the acquisition of Pirelli.
Italian Prime Minister Matteo Renzi is Insider
Another person who knew that China's chemical industry was preparing to acquire Pirelli was Italian Prime Minister Matteo Renzi. The acquisition has not been politically interfered. As for the Italian nature of the company, the arrival of the Chinese people, and the issue of trade unions and other issues, it has not affected the acquisition stage. Perhaps Tronchai knows well that the arrival of the Chinese will not cause major changes to Pirelli. Compared with the previous agreement with Russia's Rosneft, this agreement with Sinochem is even more demanding: the trade union agreement has for the first time ever been part of Pirelli’s corporate terms and regulations, which requires that the site change or the sale of production technology requires a corporate meeting. 90% agree.
This clause will undoubtedly guarantee the stability, completeness and Italian character of Pirelli Group for a long time. In addition, TrondKatti will be able to stay in the board of directors and he will decide when the group will return to the stock market. Pirelli will begin delisting in September this year. Among them, Sinochem will account for 65% of the shares and Trondheimi and Rosneft will share the remaining 35% with other Italian shareholders. However, in the future, the ownership structure may change, depending on the delisting situation. Troncatti will be responsible for this plan's three-year acquisition plan. After the completion of the acquisition, Pirelli will return to the stock market with high-quality assets and become the industry benchmark with Aeolus Tyre.
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