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

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Prometeon Tyre Manufacturing is in discussions with Egypt’s Ministry of Investment and Foreign Trade over a planned US$400 million expansion, as the company moves to scale up production and strengthen its position in one of its key regional hubs.

A senior delegation from parent company China National Tire & Rubber Company met Minister Hassan Al-Khatib in Cairo to outline Prometeon’s growth plans for its Amreya factory in Alexandria. The group included chairman Wang Jian Jun, vice president Sun Deng, Prometeon Egypt chairman Omar Mehna, deputy general manager Yuan Liang, Africa–Middle East CEO Stefano Ziliani and CFO Hisham Abdel-Hadi.

During the meeting, Al-Khatib commended the pace of Prometeon’s development efforts, saying the ministry “will spare no effort to meet the company's requirements, in the context of preparing a conducive climate for investment and to protect the competition”. He also said Prometeon would receive continued backing through the China Unit at the General Authority for Investment and Free Zones to ensure the company has “all the necessary information and required data”.

Prometeon executives told the minister that the planned investment aims to increase its investments by $400 million, which is in production of 1 1 one million additional car tires and upskill the existing factory efficiency.

 Prometeon’s Alexandria complex currently produces about 5.2 million tyres annually, and the expansion would introduce new manufacturing technologies to raise output and improve capability.

As part of its proposal, the company is seeking an additional 200,000 square metres of land adjacent to its current site to support the enlarged facility. Prometeon is also exploring the establishment of a dedicated free zone to serve its export-focused operations.

For Prometeon, the investment aligns with its strategy to reinforce Egypt as a central platform for supplying markets across Africa, the Middle East and Europe. The company views the country’s manufacturing base and export access as key strengths as global demand patterns shift.

The talks signal the company’s intention to deepen its long-term commitment in Egypt, subject to final approvals and land allocation.

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Yokohama Rubber Co. has opened a new passenger-car tyre plant in Hangzhou, completing the project one month ahead of schedule and marking the first major milestone under its fast-build manufacturing strategy in China.

The company held an opening ceremony recently, attended by local government officials and community representatives. Yokohama Rubber was represented by President and COO Shinji Seimiya, who praised the speed of construction and stressed the plant’s role in the group’s long-term ambitions.

In his remarks, Seimiya said he was grateful for the support that allowed the project to finish ahead of plan. He also noted that the new plant is a very important project for Yokohama Rubber's sustainable growth in the future and that every effort will be made to quickly achieve mass production and deliver high-quality, high-value-added products to the Chinese market as soon as possible.

The Hangzhou facility is the first plant built under the company’s “1-year plant” challenge, a core initiative in its medium-term strategy, Yokohama Transformation 2026. The programme aims to speed up factory construction while lowering production costs and improving efficiency. Work on the new plant began in December 2024, with operations now starting in November 2025.

The project also fulfils a request from the Hangzhou government to relocate an older plant as part of the city’s environmental plans. The new factory will have an annual capacity of 9 million tyres—about 3 million more than the site it replaces—positioning Yokohama to meet rising demand for passenger-car tyres in China. Full-scale production is expected by the second quarter of 2026.

The expansion strengthens the company’s supply of high-value tyres for China’s fast-growing new energy vehicle market, including EV-focused designs and larger rim sizes.

Alongside the rapid-build initiative, Yokohama is pushing to raise the share of premium products in its consumer tyre business by expanding sales of its ADVAN and GEOLANDAR brands, winter tyres, and 18-inch and larger tyres. The company is also rolling out regional product strategies to tailor development and sales to market-specific trends.

The opening of the Hangzhou plant underscores how Yokohama Rubber is trying to sharpen its competitive position in Asia’s largest tyre market while keeping pace with shifts in vehicle technology and local regulations.

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HS HYOSUNG ADVANCED MATERIALS has been honoured as a Community Contribution Certified Company for the seventh consecutive year. The recognition was conferred at the 2025 Community Contribution Recognition Day event in Seoul, where the company also received a Minister of Health and Welfare’s Commendation and the highest possible ‘S’ grade. This dual accolade underscores the sustained public value and consistent performance of its social responsibility programmes.

The certification itself is a rigorous evaluation administered by the Ministry of Health and Welfare and the Korea National Council on Social Welfare. It involves a comprehensive review based on ESG Principles, spanning multiple evaluation areas and numerous detailed indicators. In the latest assessment, the company excelled particularly in environmental management, earning recognition for its robust sustainability and carbon-neutral practices. Its diverse community initiatives, which are developed through long-term regional partnerships and extensive employee volunteerism, were also highly commended for building a stable and effective collaborative framework with local communities.

This ongoing commitment has been strategically reinforced following the establishment of the HS Hyosung Group in 2024. Under the new slogan ‘Value, Together’, the company has redefined its approach to social contribution. Its efforts are now organised around three core pillars: providing support for vulnerable groups, fostering the advancement of local communities and culture and promoting eco-friendly initiatives.

H S CHO, Vice Chairman, HS HYOSUNG, said, “Receiving the Minister of Health and Welfare’s Commendation and the highest ‘S’ grade is the result of our longstanding commitment to putting ‘Value, Together’ into action within our communities. We will continue to carry out diverse social contribution initiatives as a responsible company that grows together with local communities.”

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Toyo Tires has become a member of the Global Data Service Organisation for Tyres and Automotive Components (GDSO). This international non-profit is dedicated to creating universal data standards for tyres and auto components. Through this collaboration, Toyo Tires will intensify its efforts to establish industry-wide systems for tyre identification and traceability, which are crucial for modern supply chains.

A core component of this initiative involves the use of radio frequency identification (RFID) technology. This wireless system allows for non-contact identification of individual tyres, which significantly improves the accuracy and efficiency of quality assurance and inventory management processes. By building a comprehensive database of its products, Toyo Tires will enhance information reliability across the entire industry.

The data accumulated through RFID will be instrumental in developing high-value-added services, particularly within the company’s solution business such as retreading and maintenance programmes. This strengthens information management throughout a tyre's entire life cycle. Furthermore, this technological adoption supports Toyo Tires' broader commitment to sustainability. By proactively leveraging digital tools like RFID, the company aims to reduce its environmental impact while simultaneously enhancing its corporate value and advancing the development of more sustainable tyres.

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