MILAN May 24 Italian tyremaker Pirelli
has agreed with Rosneft to open more than
200 retail outlets at the Russian oil group's filling stations
and cooperate in synthetic rubber production, Pirelli said in a
statement on Saturday.
Pirelli struck a deal with Rosneft in March that made the
oil major the group's largest shareholder, gaining in exchange
the chance to exploit the Russian company's big gas station
network to sell tyres.
Earlier this month, Pirelli said its deal with Rosneft would
not be impacted by Western sanctions on Russia following its
annexation of Ukraine.
Rosneft's head, Igor Sechin, is one of the individuals
subject to sanctions by the United States and the European
Under the terms of the latest agreement between the two
companies, at least 60 retail outlets selling Pirelli-branded
products will open in 2014 and 2015, and the remainder by 2019.
The synthetic rubber will be produced in Nakhodka, a coastal
town near Vladivostok in Russia's far east.
Pirelli said it was interested in a long-term supply
agreement for the rubber produced in Nakhodka.
(Reporting by Danilo Masoni; Editing by Sophie Hares)