Pirelli ownership change won't affect its Formula 1 programme

CamFin, the controlling owner of Pirelli, has made an agreement with ChemChina that gives the F1 tyre supplier greater access to the Asian region.

Pirelli motorsport director Paul Hembery told reporters at Sepang ahead of the Malaysian Grand Prix that the supplier remains committed to the sport.

"For us, it's business as normal," he said. "Motorsport for Pirelli remains key.

"Pirelli is involved in over 250 championships in 54 countries and F1 is the pinnacle of all that activity.

"Our view is as before, nothing changes. We see F1 as a medium to long term involvement for us and we will be very happy to continue in the sport.

"It is a business decision to be here. We're not here for fun. It has a great impact on our presence in the market from a brand point of view and buyers' decision-making point of view.

"We would like to continue with that."

F1's tyre supplier contract goes up for tender this year, with Pirelli's deal expiring at the end of 2016.

When asked if he expects competition for the tender, Hembery said: "Probably. There aren't many who can do it.

"There are a limited number who can run a programme to support championships such as F1.

"It's intensive in terms of finance, knowhow, technology and it is also an unforgiving sport."

An exact date for the start of the tender process has remains unknown, but Hembery said he believed it to be "imminent".