Pirelli & C. S.p.A.

PIRC

IT0005278236

Tires & Rubber Products

Market Closed - Borsa Italiana Other stock markets 11:45:00 2025-01-21 am EST			After market 04:00:00 pm
5.744 ^EUR	-0.90%		5.758	+0.24%

12:03am	Global companies likely to be affected by Trump's promised tariffs	RE
Jan. 17	Blauer and Pirelli Launch a Capsule Collection of Four Outerwear Pieces for FW 25-26	CI

Italian government opens investigation into Pirelli's Chinese shareholder

November 07, 2024 at 12:08 am EST

(Alliance News) - The Italian government has opened an investigation into China National Tire and Rubber Corp, Pirelli's main shareholder with 37 percent, for an alleged Golden Power violation.

As Il Sole 24 Ore explains Thursday, the proceedings, notified to Cnrc, concern possible violations of the provisions set out in the June 2023 Dpcm, particularly those related to maintaining operational independence between Pirelli and Cnrc.

Under scrutiny is the dual tenure of some Pirelli directors in managerial roles in parent companies, potentially compromising the Italian company's decision-making autonomy.

The deadline for the conclusion of the proceedings has been set at 120 days from notification.

Cnrc said it is confident in compliance and will clarify its position during the investigation.

The affair comes amid changes in Pirelli's governance, with Camfin and Mtp increasing their stakes by offsetting Brembo's exit. The holding company aims to further strengthen its presence to 29.9 percent of the capital.

By Antonio Di Giorgio, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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Latest news about Pirelli & C. S.p.A.

Global companies likely to be affected by Trump's promised tariffs	12:03am	RE
Blauer and Pirelli Launch a Capsule Collection of Four Outerwear Pieces for FW 25-26	Jan. 17	CI
Bullish futures; UK CPI slowing down.	Jan. 15	AN
Europeans up except London; wait for IPC UK	Jan. 14	AN
Mib continues bullish; A2A to rebound	Jan. 14	AN
Stock markets breathe; Pirelli takes top spot	Jan. 14	AN
PIRELLI : Upgraded to Buy by Goldman Sachs	Jan. 14	ZD
Futures flat on a day drained of events	Dec. 13	AN
Brunello Cucinelli soars; Mib rises to 34,800 points	Dec. 12	AN
European stock exchanges without momentum, focus on ECB	Dec. 12	AN
Mib starts well, Pirelli and Cucinelli sprint	Dec. 12	AN
Pirelli, Camfin work on financing to rise to 29.9% - press	Dec. 12	RE
Pirelli's Executive Vice Chairman Looking to Raise Company Stake	Dec. 12	MT
Pirelli, Camfin prepares to rise to nearly 30 percent	Dec. 12	AN
Global companies likely to be affected by Trump's promised tariffs	Dec. 05	RE
Bullish futures; Mib restarts from 33,000 mark	Nov. 28	AN
Stock exchanges mixed, weighs political crisis in France	Nov. 27	AN
Futures mixed; focus on Trump and Fed minutes	Nov. 27	AN
Trump duties spook investors; Stellantis hurt	Nov. 26	AN
Mib down at 33,200; MPS does best of all	Nov. 26	AN
Europeans in the red; Stellantis hurt, up MPS	Nov. 26	AN
Trump's tariffs on Mexico hit Made in Italy.	Nov. 19	AN
Tronchetti Provera's Camfin increases stake in Pirelli	Nov. 14	AN
PIRELLI : Solid Q3 results driven by resilient volume and price/mix effects	Nov. 11
Futures expect stock exchanges to rise markedly	Nov. 11	AN

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Company Profile

Pirelli & C. S.p.A. specializes in the manufacturing and marketing of tires for light vehicles and two-wheeled vehicles. Net sales break down by source of revenue between product sales (97.3%) and services (2.7%). At the end of 2023, the group operated 18 manufacturing sites in the world. Net sales are distributed geographically as follows: Europe (39%), North America (25.7%), Asia/Pacific (16.8%), South America (12%), Russia/Nordic countries/Middle East/Africa/India (6.5%).

Employees

31,358

Sector

Tires & Rubber Products

Calendar

2025-03-25 - Q4 2024 Earnings Release

More about the company