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, the exclusive tyre supplier for the FIA World Rally Championship (WRC), has concluded the seventh round of the 2026 season, FORUM8 Rally Japan. Held across the Aichi and Gifu regions, the competition saw Hankook provide its two specialised tarmac rally tyres: the Ventus Z215 for dry surfaces and the Ventus Z210 for damp conditions.

The rally consisted of 20 special stages covering 302.82 kilometres of challenging mountain asphalt. The route featured steep roads lined with cliffs, barriers and dense woodland, offering little room for error and demanding constant driver concentration. Due to the narrow layout with virtually no straight sections, maintaining stable line-holding and precise vehicle control became essential to avoid damage or retirement.

Fluctuating weather conditions, including mountain fog, localised rain and shifting surface temperatures, kept the road surface in constant change. In this environment, tyre performance proved critical, with the Ventus Z215 delivering strong cornering on dry highspeed sections and the Ventus Z210 providing drainage and reliable grip on damp stretches. The event drew intense local interest as the home round for Toyota GAZOO Racing, where Elfyn Evans claimed overall victory, his second win of the season. Evans now leads the Drivers’ Championship with 151 points, followed by teammate Takamoto Katsuta on 131.

The championship now moves to Round 8, the EKO Acropolis Rally Greece, scheduled for 25 to 28 June in Loutraki. Known for its extreme mountain terrain and rough gravel surfaces with temperatures exceeding 40 degrees Celsius, the event will test tyre durability and thermal stability. Since becoming the exclusive WRC tyre supplier for all classes in 2025, Hankook has integrated racing data from over 70 global championships into its research and development to advance its high-performance lineup.

Comments (0)

ADD COMMENT

Link Copied!

Comerio Ercole has concluded its participation at INDEX, the premier international nonwovens exhibition in Geneva. The event served as a vital platform to connect with global customers and industry professionals, reinforcing the company’s strong market foothold. Throughout the exhibition, the company showcased cutting-edge technologies and innovative solutions, drawing excellent feedback. The fair facilitated valuable idea exchanges, strengthened longstanding relationships and fostered new international ties, proving an inspiring experience for the entire team.

Parallel to industry engagements, Comerio Ercole is bolstering employee wellbeing through the WHP Lombardia programme. Since 2019, the company has joined this regional initiative following the World Health Organization model. Increasingly investing in environmental, social and governance initiatives, the company has introduced measures to improve health and safety. These efforts have earned renewed recognition as a health-promoting workplace, with programmes including healthy nutrition, physical activity groups, anti-smoking campaigns and sustainable mobility.

Separately, Comerio Ercole recently hosted Istituto Fermi students for an educational visit. The group toured production workshops, observing machinery construction firsthand. A particularly appreciated segment introduced virtual reality systems for training and machine support, where immersive simulations using Oculus headsets demonstrated how new technologies enhance learning and remote maintenance.

The meeting also covered the company’s history and sustainability efforts. For Comerio Ercole, such initiatives build connections with younger generations and inspire future professionals by sharing a passion for engineering excellence. The company extended thanks to the students and teachers for their enthusiasm.

Comments (0)

ADD COMMENT

Link Copied!

The Tire Industry Association (TIA) has recognised Michelin North America for a USD 5,000 donation made to the Tire Industry Scholarship programme. The scholarship initiative is administered in partnership with the University of the Aftermarket Foundation and aims to support students pursuing higher education while strengthening the future workforce of the tire and automotive service industries.

Michelin’s contribution places it alongside a growing roster of industry donors, including Bridgestone Americas, Hankook Tire, Kumho Tire, Nitto Tire, Toyo Tire, VIP Tire, Yokohama Tire Corporation and the Tire Industry Association itself. Established with the University of the Aftermarket Foundation, the Tire Industry Scholarship programme provides financial assistance to students and directly addresses workforce development needs within the tyre sector.

TIA continues to encourage companies throughout the tyre industry to support the scholarship fund, helping to expand educational opportunities for future students and secure a skilled talent pipeline for years to come.

Dick Gust, CEO, TIA, said, "We are grateful to Michelin for supporting the Tire Industry Scholarship programme and investing in the future of our industry. Scholarships like these help create opportunities for students while demonstrating our industry's commitment to developing the next generation of leaders, technicians and professionals. The success of this programme depends on industry participation. Every contribution helps us invest in the future of our workforce and create opportunities for students who may one day become the leaders of our industry."

Comments (0)

ADD COMMENT

Link Copied!

Pirelli is all set for the Monaco Grand Prix, a street circuit steeped in glamour and racing history since 1929. For this 3.337-kilometre layout with 19 tight corners, the Italian tyre manufacturer has selected the softest compounds in its range – C3, C4 and C5 – to provide maximum mechanical grip on the Principality’s unusually smooth asphalt surface.

The narrow carriageway follows regular urban traffic lanes, leaving virtually no run-off areas and placing safety barriers just centimetres from the racing line. Drivers frequently brush against these walls while pursuing the ideal trajectory, with average speeds the lowest of the Formula 1 season. In some sections, cars decelerate to roughly 50 kilometres per hour, making qualifying the most critical session of the weekend since overtaking is exceptionally rare.

Several sections of the track have been resurfaced for this edition, including between Turns 19 and 1, from Turn 7 to the tunnel entrance and at pit lane entry and exit. Although graining could appear, tyre behaviour is unlikely to be significantly affected because the Monaco circuit primarily subjects rubber to traction-related loads. Low degradation traditionally encourages a one-stop race strategy, though an experimental rule in 2024 forced two pit stops by requiring three different tyre sets. That regulation has since been abandoned.

Red flags and safety car periods frequently disrupt the race due to the high probability of barrier contact and the difficulty of recovering stricken cars. In 2024, an opening-lap red flag allowed all drivers to immediately fulfil the two-compound requirement, enabling a split strategy between Medium and Hard tyres for the remainder of the Grand Prix. The 2025 edition reintroduced a three-set rule, prompting most drivers to choose Medium-Hard combinations while six teams used all three compounds including the C6 Soft.

Now in its 72nd running in Monaco, the event has seen Ayrton Senna claim six victories, one more than Graham Hill and Michael Schumacher. McLaren remains the most successful constructor with 16 wins, followed by Ferrari on 10. Reflecting the Principality’s elegance, Pirelli has unveiled a special Podium Cap in deep red and champagne colours, designed by Denis Dekovic and available on the Pirelli e-commerce platform.

Comments (0)

ADD COMMENT

Link Copied!