Pirelli to buy 49% stake in China’s Jining Shenzhou Tyre

Yanzhou, China — Pirelli & C. S.p.A. has struck a deal with China’s Hixih Rubber Industry Group to buy a 49% stake in Jining Shenzhou Tyre Co., the new name for Hixih’s tire manufacturing entity in Yanzhou.

The investment will give Pirelli the necessary production flexibility in the high-value tire segment in Asia, taking into account the evolution of the Chinese market, the expected developments in electric vehicles and the growing share of OE homologations with car companies in China, Japan and South Korea.

Under the terms…

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