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

Comments (0)

ADD COMMENT

Link Copied!

Hankook Tire marked the conclusion of TGL presented by SoFi Season 2 as the league’s inaugural Official Tire Partner and a Founding Partner. The championship event was held on 23–24 March 2026 at Florida’s SoFi Center. Throughout the season, Hankook Tire leveraged the platform to elevate its premium brand presence across roughly 150 countries. This initiative directly reflects Chairman Hyunbum Cho’s vision of uniting mobility and sports through technological innovation, allowing Hankook to deliver a fresh and engaging brand experience to fans worldwide.

The championship itself was a best-of-three clash between two first-time finalists, Jupiter Links GC and Los Angeles Golf Club. In the opening match on 23 March, Los Angeles secured a dramatic one-point comeback win, highlighted by Sahith Theegala’s strategic use of ‘THE HAMMER’ on the 15th hole to claim two crucial points after his team had fallen behind. The following day, Los Angeles continued their momentum. Although Jupiter Links initially surged ahead behind Tiger Woods, the opposition quickly levelled the score and then reeled off four straight points. A pivotal 10th hole saw both teams activate ‘THE HAMMER’ for a maximum three-point swing, with Justin Rose defeating Max Homa to help seal a 9–2 victory and lift the SoFi Cup.

With Los Angeles Golf Club crowned champions, TGL’s Season 2 drew to a dramatic close. Looking ahead to Season 3, the league will expand to seven teams with the addition of Motor City Golf Club based in Detroit, furthering its ambition to build a premier global stage for team golf competition.

Comments (0)

ADD COMMENT

Link Copied!

Tyrecycle recently joined Fenner Conveyors in celebrating the opening of the K‑MIX Materials Innovation Hub in Kwinana, Western Australia, marking a significant advancement for sustainable materials innovation nationally.

For Tyrecycle, the event’s focal point was the unveiling of Fenner’s InfinitySeries, the first conveyor belt manufactured using locally sourced recycled material stemming from the pair’s strategic partnership. During the launch, Tyrecycle welcomed mining community members to its East Rockingham facility for guided tours of its recycling operations, demonstrating the processing of old conveyor belts, off‑the‑road (OTR) tyres and passenger tyres into high‑value reusable materials for local supply chains.

This collaboration represents a pioneering closed‑loop ecosystem, transforming end‑of‑life conveyor belts into new, high‑performance products that support mining operations in achieving decarbonisation and circularity objectives. Tyrecycle expressed pride in standing alongside Fenner Conveyors to continue developing sustainable pathways for the mining sector and beyond.

Comments (0)

ADD COMMENT

Link Copied!

Pirelli was named ‘Supplier of the Year’ at the Hyundai Motor Group Global Supplier Day, an accolade recognising its superior product quality, effective supply chain management and strong overall collaboration. This distinction reflects the company’s ability to meet high standards across multiple operational fronts.

Amid industry-wide shifts and persistent supply chain disruptions, Pirelli has ensured production stability for Hyundai through forward-looking supply strategies and a globally integrated factory network. By capitalising on the strategic positioning of its Asian plants, Pirelli has aligned closely with Hyundai’s manufacturing footprint, delivering agile support that strengthens their global partnership. This operational synergy has been key to maintaining continuity and responsiveness.

Deep technical collaboration is evident in their latest vehicle launches. The Genesis GV60 Magma and the Hyundai Ioniq 6 N are both fitted with Pirelli’s advanced P Zero tyres, incorporating PNCS and ELECT technologies. Developed in 2019 for electrified vehicles, ELECT has since earned over 800 original equipment approvals, underscoring its role in helping Hyundai models achieve optimal performance in the electric era. This award represents a significant milestone in the ongoing partnership, reaffirming a shared dedication to innovation and excellence.

Mattia Bussacchini, Senior Vice President and Chief Commercial Officer, Pirelli, said, "We are truly honoured to receive this prestigious recognition from Hyundai Motor Group. This award fully affirms the strong collaboration between our teams and reflects Hyundai's high recognition of Pirelli's products and services. We look forward to continuing to deepen our cooperation with Hyundai and exploring new opportunities to drive mutual growth.”

Comments (0)

ADD COMMENT

Link Copied!

Pirelli has unveiled its latest innovation in road racing, the P ZERO Race TLR SL-R, a tyre engineered with a singular focus on maximising on-road speed. Positioned at the apex of the P ZERO Race lineup, this model unifies aerodynamic efficiency, low rolling resistance, precise handling and dependable grip into a single high-performance package. It is tailored for any scenario where speed is paramount, from competitive time trials and road races to the pursuit of personal bests during weekend rides.

The development of this tyre was heavily influenced by real-world feedback from Pirelli’s WorldTour partners, including Alpecin-Premier Tech, Fenix-Premier Tech and Lidl-Trek, alongside collaborations with leading bicycle manufacturers. Before its official release, it was already being raced under a prototype label, proving its pedigree in elite competition.

Central to its design is the debut of a patented technology called PAAS, or Pirelli Advanced Aerodynamic System. This system redefines the tyre’s shape to optimise its interaction with the rim, effectively managing airflow to harness the sailing effect, which reduces overall drag. By refining the tyre’s mounted geometry and the precise placement of its widest point, PAAS delays airflow separation. Importantly, this aerodynamic gain comes without sacrificing other key attributes, allowing the tyre to retain top-tier rolling efficiency, comfort and handling for a truly balanced ride. Complementing this is a newly developed micro-textured surface on the slick tread, further fine-tuning airflow to enhance aerodynamics and road feel at high speeds. The result is a tangible reduction in wheel drag, with average savings of up to 5 watts in crosswinds and peaks reaching 15 watts under optimal conditions.

Speed is further reinforced by the new LiteCORE casing, a tubeless-ready structure that represents Pirelli’s lightest and most efficient design for road tyres. It achieves a 10 percent reduction in rolling resistance compared to the brand’s previous best, all while maintaining responsive acceleration and precise control across varying conditions. The tyre delivers confident handling during rapid direction changes, accelerations and high-speed cornering.

Grip is entrusted to the SmartEVO² compound, a race-proven material already responsible for victories at prestigious Classics like Milan-Sanremo and Paris-Roubaix. This compound ensures reliable traction on both dry and wet surfaces, broadening the tyre’s versatility. Manufactured in Italy using FSC-certified natural rubber, the tyre complies with current ETRTO standards and is optimised for modern rims with internal widths between 22 and 25 millimetres, including hookless models when pressure limits are observed. Initially available in 28- and 30-millimetre widths, with black or yellow sidewall options, a 32-millimetre version is planned for release later in the year.

Comments (0)

ADD COMMENT

Link Copied!