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
Pirelli All Set for Monaco Grand Prix
- By TT News
- June 04, 2026
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.
Tyres Europe Joins Industry Coalition Demanding Fixes To EUDR Information System
- By TT News
- June 04, 2026
Tyres Europe has joined a broad coalition of European industry associations urging the European Commission to fix persistent flaws, gaps and technical limitations in the EU Deforestation Regulation’s Information System before the rules take effect on 30 December 2026. The system serves as the central pillar of the EUDR, designed to ensure traceability and compliance within highly complex supply chains.
Industry feedback highlights major shortcomings, particularly restrictions on aggregating Due Diligence Statements and a lack of essential functions for business users. These issues threaten to impose heavy administrative burdens and create operational uncertainty for companies trying to meet the regulation’s requirements.
The coalition is demanding that the Commission make the system not only legally compliant but also operationally practical, thoroughly stress-tested and adapted to real-world business practices. A reliable and user-friendly platform is deemed critical for supporting compliance while protecting the uninterrupted supply of key commodities and products into the European market.
Van den Ban Autobanden Founder Arie van den Ban Passes Away
- By TT News
- June 04, 2026
Van den Ban Autobanden has announced the passing of its founder, Arie van den Ban, with deep sorrow. He was a familiar and respected figure both inside and outside the organisation.
Establishing the company in 1968, Arie van den Ban used vision, entrepreneurship and determination to transform it into an international tyre wholesaler and distributor serving global customers. The company looks back with great respect and gratitude on his profound contributions.
The company statement read: “For many, both within and beyond the company, Arie was a familiar and respected figure. His influence on the organisation and the people around him will be felt for years to come. We look back with great respect and gratitude on everything he has meant to Van den Ban Autobanden.”
Nokian Tyres Ranks 29th On Financial Times’ Europe’s Climate Leaders List
- By TT News
- June 03, 2026
Nokian Tyres has once again secured a position on the Financial Times’ Europe’s Climate Leaders list, maintaining a perfect record since the ranking first launched in 2021. The annual recognition, compiled jointly by the Financial Times and research firm Statista, evaluates data from approximately 3,000 European companies. Being featured highlights the Finnish tyre manufacturer’s measurable advancements in cutting greenhouse gas emissions.
Out of 600 companies selected across all industries for their five-year emission reduction progress, Nokian Tyres placed 29th overall. Within the automobiles and components sector, only one other firm joined it in the top 100, and Nokian Tyres emerged as the highest-ranking tyre manufacturer on the entire list. The company’s strong performance underscores its leadership within its specific industry segment.
ductions in both absolute greenhouse gas emissions and emissions intensity, alongside broader climate commitments and collaboration with external sustainability assessors such as CDP and the Science Based Targets initiative. These combined criteria determine the final order of Europe’s most climate-progressive companies.
Susanna Tusa, VP – Public Affairs and Sustainability, Nokian Tyres, said, “From using mostly renewable energy to building the world’s first full‑scale zero‑CO₂‑emissions tyre factory, our climate actions help pave the way for more sustainable mobility. We want to offer drivers safe, high‑quality tyres that are made with continuously lower environmental impact as we continue moving towards net‑zero greenhouse gas emissions. This ranking by the Financial Times is a great recognition of our work.”
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