ROME, April 8 (Reuters) - Pirelli is having
difficulties investing in the United States because its largest
shareholder is China's state-owned Sinochem, the Italian
tyremaker's executive vice chairman Marco Tronchetti Provera
said in a newspaper interview on Tuesday.
Pirelli's Chinese and Italian shareholders are at odds over
the group's governance as Washington cracks down on Chinese
technology in the automotive industry, banning key software and
hardware from Chinese-controlled companies.
Tronchetti Provera told Italian daily la Repubblica that
Sinochem's 37% stake had proved a hurdle when Pirelli had
negotiated with local authorities over doing business in the
states of Alabama and Virginia.
"Now we are negotiating with Georgia, where we already have
a factory, and once again objections are being raised," said
Tronchetti Provera, who was Pirelli's CEO for 30 years up to
2022.
Tronchetti Provera said he was confident an agreement would
be reached with Sinochem to overcome the U.S. concerns.
"We will find a way, in the interests of Pirelli, to comply
with American laws," he said.
"It is too important a market for us not to be able to play
on a level playing field with our competitors."