Pirelli is a privately owned company headquartered in Italy. Founded in 1872, it has an estimated 11,640 employees. Functioning as a tier 1 media tech buyer, the company specializes in developing, manufacturing, and marketing tires for motor vehicles, industrial vehicles, and motorcycles.
Pirelli successfully concluded its dry tyre development program during Formula 1 tests at Silverstone on July 8, featuring drivers Kimi Antonelli and Alexander Albon. Previously on July 8, reports linked Czech business leaders Michal Strnad and Pavel Tykac to alleged plans to acquire a 10 to 20 percent stake in Pirelli from Sinochem. Italian newspaper Corriere della Sera had indicated these plans on July 3, citing unnamed sources, though involved parties have not commented on the circulating stories. This followed earlier reports on July 8 stating that Czech billionaire Michal Strnad was in talks with Sinochem Holdings for a 14% stake, a deal that would reduce Sinochem’s ownership in the Italian tiremaker to approximately 20%.
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