The process of industrial integration between Pirelli Industrial and ChemChina assets it will be “long and challenging”. This is what can be read in the takeover bid document published this morning on the eve of the start of the takeover bid. The document underlines how the completion of the operation "will require an indicative period of several years and the occurrence of various conditions, including procedural ones".
There are several stages required to achieve the j. First of all, the Industrial division of Pirelli will have to be separated from the rest of the company, remaining in any case under the control of Pirelli. Once the demerger is completed, the new entity can be integrated with ChemChina's strategic assets in order to create the joint venture. The latter will then have to define with Fengshen the respective positioning of the products and the market segments on which to focus, in order to operate in competition in the industrial tire sector.
Therefore, for the total realization of the project, it will take time. In fact, the activities – reads the document – “presumably will require at least 2-3 years to complete and in themselves present significant challenges for each of the parties involved”.
"The need for possible additional resources for the realization of the relative industrial projects cannot be excluded, just as, at the same time - the text continues - the possible savings and advantages deriving from the synergies relating to said integration cannot be evaluated".
