According to foreign reports, Pirelli tire recently signed a memorandum of understanding with Rosneft and Rostec State Corporation. The three parties will jointly carry out research and development. The three companies that signed the agreement did not disclose the specific terms of the cooperation, but pointed out that the scope of cooperation will cover synthetic rubber, reinforcing materials and fillers such as carbon black, and the development of the products will be carried out in accordance with Pirelli's technical standards. Pirelli's chairman and CEO Marco Tronchetti Provera stated: "Russia has strategic significance for Pirelli. The cooperation of the three parties also shows our deepening investment in this market," said Pirelli Chairman and CEO Marco Tronchetti Provera. It is also an opportunity for Pirelli to leverage the expertise and experience of two Russian partners." Pirelli had previously established a partnership with Rosetec and currently has factories in both Kirov and Voronezh. The company’s sales this year are expected to reach US$350 million, and Pirelli holds a 65% stake in the joint venture company.
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