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
TyreSafe Partners With North Wales Fire Service To Embed Tyre Safety Into Road Safety Initiatives
- By TT News
- May 05, 2026
TyreSafe, UK’s charity dedicated to raising tyre safety awareness, has entered into a new collaboration with North Wales Fire and Rescue Service (NWFRS) to embed tyre safety education into the latter’s existing road safety programmes across the region. This partnership aims to provide motorists and motorcyclists with practical guidance on tyre maintenance as part of broader efforts to reduce road casualties.
NWFRS already runs several impactful initiatives with local partners, including Operation Atal, a roadside engagement campaign with North Wales Police that educates drivers on the Fatal 5, the most common causes of fatal collisions. The Service also delivers a targeted intervention for young drivers called Olivia’s Story, a true local tragedy in which a young woman lost her life when a friend raced another friend in a newly acquired car. Additionally, NWFRS offers BikerDown training for motorcyclists and engages with riders through BikerBrews at popular stops.
Recent data from Road Safety Wales shows total reported casualties in 2024 fell by 31 percent compared to 2019, with 84 fatalities and 1,007 serious injuries across Wales, a 7.9 percent decrease from the previous year. However, rural roads, which make up about 60 percent of all road fatalities in Wales, remain a concern. Authorities continue to highlight the Fatal 5 – excessive speed, drink or drug driving, mobile phone use and not wearing seatbelts – as leading causes of serious collisions.
Through this new partnership, tyre safety messages will be incorporated into roadside engagement, community events and educational programmes across North Wales. By ensuring drivers understand the critical role tyres play in vehicle control, especially on rural roads and in challenging conditions, TyreSafe and NWFRS aim to build on recent safety improvements and further reduce the number of people killed or seriously injured on the region’s roads.
Stuart Lovatt, Chair of TyreSafe, said, “By working alongside North Wales Fire and Rescue Service and integrating tyre safety into their excellent road safety initiatives, we can reach more drivers and riders with simple, practical advice that helps prevent incidents before they happen. Partnerships like this are vital in continuing the positive progress we are seeing in reducing road casualties.”
Jane Honey, Deputy Head of Prevention at North Wales Fire and Rescue Service, said, “Our teams are committed to supporting safer communities across North Wales, and road safety education is a key part of that work. Tyre condition is a crucial element of vehicle safety, particularly on the rural roads that make up much of our region. By working with TyreSafe, we can strengthen the messages we deliver through our campaigns and community engagement, helping motorists make small checks that can have a big impact on road safety.”
Titan Launches Goodyear Softrac Pro And Softrac Smooth Tyre Lines For Outdoor Power Equipment
- By TT News
- May 05, 2026
Titan International has introduced two new product lines under the Goodyear Farm Tire brand, named Goodyear Softrac Pro and Goodyear Softrac Smooth. Designed as complementary front and rear fitments, the tyre lines aim to enhance performance across a range of landscaping equipment, including both commercial and residential zero-turn mowers. The launch follows Titan’s recent expansion of its Goodyear licensing rights into additional product segments, which was announced last year.
The Softrac Pro line features a forward-thinking tread profile and refined contour intended to work harmoniously with the terrain, offering a smoother ride, better slope stability and improved turf protection. Engineered for both professionals and homeowners, the tyre provides long-lasting durability and dependable traction without compromising ground quality. Key technical attributes include a proprietary ozone-resistant tread compound for extended tyre life, a meticulously engineered tread pattern that reduces turf damage and a multi-angle lug design for excellent hillside traction.
Current Softrac Pro sizes range from 20x10.00-8NHS to 26x12.00-12NHS, covering the most popular rear fitments for commercial and residential zero-turn mowers, with additional sizes planned for front engine riders and compact tractors. Meanwhile, the Softrac Smooth line is built as a front fitment for high-precision commercial mowers, engineered to deliver precise handling and clean cutting lines under heavy workloads. Available sizes include 11x4.00-5, 13x5.00-6 and 13x6.50-6, covering key front wheel mower fitments.
Both Softrac Pro and Softrac Smooth lines have undergone rigorous testing by multiple original equipment manufacturers, reinforcing Titan’s focus on application-specific solutions. Working together as front and rear systems, the tyres support a full range of commercial mower configurations, including zero-turn, stand-on and low-profile models, helping manufacturers and dealers equip fleets with a top-tier brand while boosting overall performance.
Peter Kortes, Outdoor Power Equipment Product Manager – Titan Specialty Division, said, “For years, turf tyres have looked largely the same, and recent aggressive designs have swung too far without considering everyday functionality. We set out to create a tread that strikes the perfect balance, modern and bold, yet still turf‑friendly and practical for any user. The result delivers standout style with the optimal performance customers expect from their equipment.”
Vittoria Brings Back Corsa PRO Pink Special Edition With Distinctive Sidewall
- By TT News
- May 05, 2026
Vittoria has announced the return of a fan-favourite special edition tyre, the Corsa PRO Pink, now available to celebrate one of the most successful road tyres in cycling history. The original Corsa PRO has built its reputation on victories in Grand Tours, Classics and other elite races, making it the preferred choice for professional riders and teams competing on Vittoria equipment.
Officially launched on 28th April, the Corsa PRO Pink delivers identical performance to the standard model but features a distinctive pink sidewall. Available in 700x28c and 700x30c sizes, this special edition has been brought back by popular demand after its initial 2023 release. The Corsa PRO is recognised as the most advanced cotton tire ever produced, with engineers integrating the rubber tread into the cotton casing through newly developed vulcanization processes.
The tyre’s 320 TPI cotton casing, the finest on the market, provides the suppleness and comfort required at the highest levels of competition. Vittoria’s Graphene plus Silica compound enhances speed, durability and grip, making this tyre a top choice for road racing applications where peak performance is non-negotiable.
Nexen Tire Posts Record Quarterly Revenue As Product Mix Lifts Margins
- By TT News
- May 05, 2026
Nexen Tire reported record first-quarter revenue and higher profitability, supported by stronger sales in Europe and North America and a shift towards higher-value products.
The company said revenue rose to KRW 838.3 billion in the three months to March, while operating profit reached KRW 54.2 billion. The increase came despite a “hostile business environment” marked by slowing global demand and geopolitical risks.
Sales were driven by solid performance in key markets, notably Europe and North America. A recent plant expansion in Europe improved production stability, enabling higher volumes from existing customers and new client wins.
Original equipment (OE) sales remained stable, supported by a diversified product portfolio, even as global automotive demand weakened.
Profitability improved on the back of a more favourable product mix and cost controls. The share of high-value products — including premium OE tyres and those for sport utility vehicles and electric vehicles — continued to rise. High-inch tyres, defined as 18 inches and above, accounted for 40 percent of total sales.
The company also said efforts to offset higher raw material and ocean freight costs contributed to margin gains.
Alongside its results, Nexen outlined measures to strengthen its global position, including expanding region-specific product offerings. In South Korea, it launched the high-performance N’FERA Sport and the all-weather N’BLUE 4SEASON 2, following earlier introductions in Europe and the US.
In Latin America and the Asia-Pacific region, Nexen introduced the N’BLUE S summer tyre and pursued partnerships with local distributors to bolster retail competitiveness.
With external uncertainties expected to persist into the second quarter, the company said it would accelerate diversification of its global sales structure while maintaining growth in strategic markets such as Australia and Japan.
Nexen also plans to expand regional distribution centres and advance its AI-based virtual development process using a high dynamic driving simulator introduced last year.
A Nexen Tire official said: “We achieved solid results despite the uncertain business environment. We will continue to respond proactively to market changes while strengthening product competitiveness and operational efficiency to sustain quality growth.”
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