Pirelli boss says issues with China's Sinochem will be fixed
MILAN, June 20 (Reuters) - Pirelli (PIRC.MI), opens new tab chief Marco Tronchetti Provera said on Friday the tensions at the tyremaker involving China's state-controlled Sinochem (600500.SS), opens new tab, its main shareholder, are on the way to being resolved.
Sinochem, which owns a 37% stake, has crossed swords with the company and its second largest shareholder Camfin, which claim that a large Chinese presence in Pirelli poses a threat to its ambitions to expand its business in the United States.
Tronchetti Provera, Pirelli's executive vice chairman, controller of Camfin and de facto top boss, said at a conference in Milan that the company was on the right track towards a positive outcome.
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