Italian tyre maker Pirelli announced that Chinese state chemical giant Sinochem’s control over the company has ended.
The board majority approved the end of Sinochem's control, with 9 out of 15 directors voting in favour, citing international accounting standards. Chairman Jiao Jian and four other Chinese directors cast the five dissenting votes, while another director abstained.
“The decision regarding the absence of control of the shareholder Sinochem represents a first, but not decisive, step on the path to the necessary adjustment of company governance to regulatory constraints in the USA," the company said in a statement.
Pirelli, a key player in the high-value tyre segment, noted that the USA is crucial for developing and distributing its Cyber Tyre technology.
The company also declared its financial results for 2024. Pirelli's 2024 consolidated net profit rose 1% to €501.1 million, compared with €495.9 million in 2023. Revenue increased by 1.9% to €6,773.3 million.
The company's adjusted EBIT margin improved to 15.7 percent of sales from 15.1 percent in 2023, while the EBITDA adjusted margin rose to 22.4 percent from 21.7 percent.
Pirelli confirmed its 2025 targets despite a "high level of uncertainty surrounding US tariffs" and said it has defined a mitigation plan should the announced measures come into effect.
The company's net financial debt position decreased to €1,925.8 million at the end of 2024, down from €2,261.7 million a year earlier
Apollo Tyres Launches Vredestein Superpasso 2 Road Bike Tyre
- By TT News
- May 19, 2026
Apollo Tyres Ltd has expanded its cycling portfolio with the release of the Vredestein Superpasso 2, a mid-range road tyre borrowing compound technology from the brand’s premium Superpasso Pro model. The new offering targets cycling enthusiasts and leisure riders by pairing that professional-grade tread with a highly durable casing.
Engineers have focused on reducing rolling resistance, achieving an improvement of up to 19 percent on the 28 mm tubeless-ready version compared to the previous generation. This gain comes without sacrificing the established levels of grip or puncture protection, thanks largely to an updated casing and compound rather than structural overhauls. The tyre also retains its predecessor’s 100 TPI casing and reinforced breaker layer.
Apollo’s TriComp technology employs distinct rubber compounds across the tread and shoulders, with a firmer centre promoting durability and lower resistance while softer shoulders enhance wet-weather cornering. Available from May 2026 across Europe, the Superpasso 2 will be offered in tubeless-ready options of 28-622 and 32-622, as well as tube-type sizes of 25-622, 28-622 and 32-622, in both black-black and black-transparent finishes.
Nic Knippers, Divisional Head, Vredestein Two Wheel Tyres, Apollo Tyres Ltd, said, “With the Superpasso 2, rolling resistance has been significantly reduced while grip and puncture protection remain at the same high level. No rider wants a flat tyre – they want a tyre that delivers both speed and safety, without compromise.”
Vredestein Comtrac 2+ Named Overall Winner In Promobil Motorhome Tyre Test
- By TT News
- May 18, 2026
The Vredestein Comtrac 2+ has been named the overall winner in the latest summer tyre test by Promobil, Germany’s leading motorhome magazine. The assessment focused on high-demand driving scenarios, with the tyre earning particular recognition for its short stopping distances on both wet and dry pavement.
The test evaluated seven leading summer tyres in size 225/75 R 16 C 121 R on a Fiat Ducato-based motorhome. All competitors were C-type products for vans and campers. The Comtrac 2+ recorded the best wet braking performance at 27 metres from 80 kmph and the highest aquaplaning resistance speed of 93.5 kmph. In dry conditions, it again led the field with a shortest braking distance of 41.1 metres, securing the test winner accolade.
Launched in late 2025, the Comtrac 2+ is available in 21 sizes for 15- to 17-inch rims, including XL load-rated versions. Its wet weather capability comes from a highly dispersible silica filler and a tread pattern designed to expel water. A durable construction, strengthened bead area for stability under load, and reinforced sidewalls for wear resistance contribute to its longevity and handling performance.
Daniele Lorenzetti, Chief Technology Officer, Apollo Tyres Ltd, said, “This latest independent test confirms the Comtrac 2+ is one of the leading C-type summer tyres on the market. Tyre development requires a careful balance of characteristics, and this result shows that we have created a summer product that is an ideal choice for motorhomes operating in increasingly unpredictable weather conditions.”
Gothenburg District Court Rejects Termination Request For Enviro’s Company Reorganisation
- By TT News
- May 18, 2026
Scandinavian Enviro Systems AB (publ) has received a ruling from the Gothenburg District Court regarding its ongoing company reorganisation process. The court decided that the reorganisation, which the company has been undergoing, will continue rather than be terminated.
This legal determination follows a request submitted to the court that sought an end to the restructuring proceedings. In response to that request, Enviro had already provided its own statement to the District Court arguing for the continuation of the process. With the court’s latest decision now formally issued, the company is permitted to move forward with its planned measures without disruption.
Enviro has expressed a positive view of the court’s ruling, seeing it as an endorsement that allows the firm to persist with the necessary actions aimed at securing a long-term and sustainable business operation.
Michelin India Expands Rajasthan Presence With New MTS Store In Jodhpur
- By TT News
- May 18, 2026
Michelin India has opened a new Michelin Tyres & Services (MTS) store in Jodhpur through a partnership with Sushil Tyres. Located on Chopasani Road, the facility expands the French tyre giant’s retail footprint across Rajasthan while offering premium tyre solutions to local motorists.
Spanning 1,800 square feet, the outlet features Michelin’s full range of passenger car tyres alongside modern wheel alignment and balancing equipment. The inauguration was led by Prashant Sharma, Michelin India’s National Sales Director, with the site designed to deliver a premium and convenient service experience.
Jodhpur, known as the Blue City and a fast-growing commercial hub in Rajasthan, benefits from a strong tourism economy and rising numbers of premium vehicle owners. Sushil Tyres, a trusted local name since 1984, brings over four decades of aftermarket expertise, making the collaboration a blend of global technology and deep community knowledge focused on safety, durability and performance.
Shantanu Deshpande, Managing Director, Michelin India, said: “Jodhpur represents a key market in Michelin's growth strategy for the region. The city's rapidly evolving mobility landscape, driven by growing infrastructure and a rising base of premium vehicle owners, makes it an important hub for our retail expansion. The launch of our new Michelin Tyres & Services Store in Jodhpur reinforces our commitment to expanding our network and ensuring greater accessibility to Michelin's premium products and services. This expansion is aligned with our plans to introduce Made-in-India passenger car tyres, reinforcing our commitment to delivering globally benchmarked products tailored for Indian consumers”
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