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
Triangle Tyre Secures Place On 2026 China Auto New Supply Chain Top 100 List
- By TT News
- July 17, 2026
Triangle Tyre has secured a position on the 2026 China Auto New Supply Chain Top 100 list, released in Shanghai on 2 July alongside the Global Automotive Supply Chain Enterprise Competitiveness Analysis Report. The recognition highlights the manufacturer's sustained growth and strong overall capabilities within the domestic automotive sector.
The annual ranking evaluates companies based on business results, technological advancement, global support networks and sustainability efforts. Triangle Tyre's repeated inclusion signals industry acknowledgment of its competitive edge and international reach, reinforcing its commitment to long-term quality development.
Innovation remains central to the company's operations, supported by domestic and United States-based research centres. The firm holds 1,322 patents and has contributed to 155 national standards and 15 international standards. Research spending reached RMB 465 million (approximately USD 68.70 million) in 2025, marking a 7.62 percent increase from the prior year.
Key technological advances include an electromagnetic induction curing process that cuts energy use per unit by over 70 percent, backed by multiple patents including two from United States. The company has also introduced adhesion protection for giant OTR tyres and launched the e-Travel series for new energy vehicles, emphasising range, low noise and safety.
Triangle Tyre supplies over 60 domestic manufacturers and collaborates with global names like Caterpillar and Volvo. Shipments for new energy vehicle tyres rose nearly 40 percent in 2025, while OTR tyre volumes grew more than 20 percent. Exports reach over 180 countries, with overseas production projects currently advancing.
Sustainability achievements include national Green Factory status and energy efficiency recognition from the Ministry of Industry and Information Technology. The company earned an EcoVadis Gold Medal with a score of 81, ranking among the top five percent worldwide. Triangle Tyre continues to integrate renewable materials and reduce emissions while strengthening ESG practices to boost future competitiveness.
Liberty Tire Recycling Expands Gulf Coast Footprint With Three Strategic Acquisitions
- By TT News
- July 17, 2026
Liberty Tire Recycling, a portfolio entity under the global infrastructure investor I Squared Capital, has announced a significant expansion of its Gulf Coast footprint. The company has finalised the acquisition of three key regional players: All American Tire, Colt Tire Recycling and Genan, Inc., the United States subsidiary of Genan A/S. This strategic move consolidates Liberty’s position across Texas and Louisiana, establishing what is now the most comprehensive tyre recycling network in the area.
The unified operations of these three firms are set to dramatically increase Liberty’s existing capacity for rubber processing and tyre collection. By integrating their assets, Liberty aims to offer a seamless suite of services, encompassing collection, processing and the supply of recycled materials. This expansion is a direct response to the escalating demand for sustainable end-of-life tyre management from retailers, manufacturers and municipal governments throughout one of the nation’s most rapidly developing regions.
Each acquired company brings specialised strengths and seasoned leadership to the combined entity. All American Tire, founded by Tom and Jodi Parker in Fort Worth, is a dominant force in collection and crumb rubber production within the Dallas-Fort Worth metroplex. Colt Tire Recycling, established by Kip and Sydney Vincent in Louisiana, is recognised for its collection leadership and innovative applications of recycled rubber in civil engineering. Meanwhile, Genan’s Houston facility is renowned for its advanced processing technology, producing high-grade rubber granules for demanding sectors like automotive parts and playground surfacing. Thomas Boehme of Genan will assume a new role with Liberty to spearhead continued US growth.
To ensure operational continuity and customer stability, senior management from All American, Colt and Genan will transition to Liberty. This integration of experienced leadership is intended to guide the future development of each business. As North America’s premier tire recycler, Liberty processes hundreds of millions of tyres annually. This latest expansion bolsters its circular-economy mission by increasing the availability of recycled rubber for infrastructure, manufacturing and high-value applications across the continent.
Thomas Womble, CEO, Liberty Tire Recycling, said, "We have always been about bringing together proven partners who have built something that enhances Liberty – and All American, Colt and Genan do just that. We look forward to combining our expertise with their proven success to provide customers across the Gulf Coast with expanded capabilities, stronger regional service and new opportunities for sustainable end-of-life tyre management."
Citira Bolsters Western Sweden Network With Gummiverkstan i Torsby Acquisition
- By TT News
- July 17, 2026
Citira, a Sweden-based company specialising in circular tyre management, has announced the acquisition of Gummiverkstan i Torsby, a well-established service point located in west-central Sweden. The transaction strategically bolsters Citira’s presence along the vital E45 and E16 transport corridors through the Värmland region, adding a key facility to its growing network.
Under the leadership of Karl-Johan Axelsson, Gummiverkstan has built a solid reputation over the years for reliably servicing both heavy vehicles and passenger cars within the Torsby area. The business experienced consistent growth, driven by a steadfast commitment to its loyal local clientele and a focus on dedicated automotive care.
As part of the agreement, Gummiverkstan will maintain its current operations, retaining all staff and continuing at its existing premises while gaining access to Citira’s broader resources to facilitate further expansion. Axelsson will transition into a new role as a co-owner of Citira, ensuring continuity and strategic alignment for the future.
Urban Tibbelin, Head of Sweden at Citira, said, "Gummiverkstan i Torsby is an important addition to our presence in Värmland. Karl-Johan and his team have earned a standing in Torsby that only comes from doing the job well, year after year, and that local trust is exactly the foundation we want to build on. We're glad to have them with us.”
Axelsson said, "It has been a privilege to look after Torsby's vehicles for as long as I have, and joining Citira means me and my team get to keep doing exactly that. With the addition of their backing to serve our customers well for many years to come, I'm confident we will only get better as part of the group.”
Webfleet Earns Three Industry Awards Across Italy And Poland
- By TT News
- July 17, 2026
Webfleet, the fleet management division of Bridgestone, has secured three industry accolades in Italy and Poland, underscoring its advancements in artificial intelligence and road safety technology. The recognition highlights the company’s growing influence across European transportation sectors.
During the sixth IoMobility Awards 2026 in Italy, held alongside the Next Mobility Exhibition and Transpotec Logitec, Webfleet placed among the top three in the Fleet Management Software & Services category. An additional AI NOW Award was bestowed by Digital Voice for the firm’s application of artificial intelligence within logistics. Industry judges praised the organisation as a European frontrunner in digital fleet transformation, citing its integration of innovation with environmental accountability.
In Poland, Webfleet Video clinched the Technologies Enhancing Road Safety category at Fleet Derby 2026, marking its third victory in that segment and extending a six-year streak of awards for the brand. This nationwide online poll sees fleet professionals vote for leading sector solutions. The winning system utilises connected cameras and AI to identify imminent driving hazards, delivering real-time alerts to drivers while providing operators with critical data to promote safer fleet operations.
Jan Maarten de Vries, President – Fleet Management Solutions, Bridgestone, said, “These awards demonstrate how connected data and AI empower fleet managers and drivers to operate more safely and make better decisions every day. Recognition in Italy and Poland reflects the strength of our teams and underlines Webfleet’s commitment to acting as a trusted advisor to fleets, making complex technology easy to use, and enabling fleets to take informed decisions for safer, more efficient and sustainable operations across Europe.”
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