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
Apollo Tyres Launches Vredestein Traxion 95 For Row-Crop Farmers And Contractors
- By TT News
- October 29, 2026
Apollo Tyres Ltd has unveiled the Vredestein Traxion 95, a row-crop tractor tyre designed specifically to carry the advantages of Traxion technology into that segment. According to the company, the product offers strong grip, effective self-cleaning and extended service life, allowing farmers and contractors to get more from their equipment and working hours across the season.
Like other products in the Traxion range, the tyre uses angled lugs set apart at varying intervals, a layout intended to transfer power efficiently and hold traction in difficult ground. The uneven spacing also helps the tread shed soil as it rolls, supporting steady output between crop rows, while the tread pattern and robust rubber compound are claimed to improve operator comfort and lengthen tyre life. Spraying, fertilising and similar crop-care duties are among the tasks the tyre is built to handle reliably.
Vredestein has earned a solid agricultural reputation for grip, longevity and comfort since launching its first Traxion tyre in 1997. The Traxion 95 is scheduled to reach the market in Autumn 2026 in six popular sizes: 230/95 R32 TL 128D, 270/95 R32 TL 136D, 230/95 R36 TL 130D, 300/95 R46 TL 148D, 230/95 R48 TL 136D and 270/95 R48 TL 144D.
Yves Pouliquen, Vice President, Commercial EMEA, Apollo Tyres Ltd, said, “The launch of the Traxion 95 marks another important step in the evolution of the Traxion family. Users can now benefit from proven Traxion technology in a dedicated row-crop tyre that increases productivity between every row.”
Nexen Tire Earns EcoVadis Gold For Third Straight Year, Climbs To Top 2%
- By TT News
- October 29, 2026
NEXEN TIRE has secured a place in the top 2 percent of companies globally in the 2026 ESG assessment conducted by EcoVadis, a sustainability rating agency headquartered in France. The achievement represents the third consecutive year the tyre manufacturer has earned a Gold Medal, improving from its top 3 percent ranking a year earlier. The company posted balanced scores across all four assessment categories, with environmental performance standing out as its strongest area.
Environmental management capabilities drew particular praise, including greenhouse gas emissions disclosure spanning all scopes and environmental management systems operating across global sites. NEXEN TIRE has committed to a Science Based Targets initiative-approved goal of cutting Scope 1 and 2 emissions by 58.8 percent by 2034 relative to 2023 levels. Recognition also came for broadening labour and human rights management systems worldwide, while sustainable procurement efforts earned positive marks for supplier code of conduct revisions, supply chain ESG due diligence and ESG awareness training for procurement staff.
Ethics recorded the largest improvement among assessed areas. The company maintains policies and implementation systems addressing anti-corruption, conflict of interest prevention and information security, and its expanded information security activities across global sites drew a stronger evaluation this year. EcoVadis, established in 2007, has assessed over 150,000 companies in 185 countries, awarding Platinum to the top 1 percent, Gold to the top 5 percent, Silver to the top 15 percent and Bronze to the top 35 percent.
The rating carries commercial weight, as global automakers use EcoVadis assessments when selecting suppliers. With ESG performance requirements across supply chains intensifying, especially in Europe, the result is expected to strengthen NEXEN TIRE's competitive position in original equipment tyre supply.
John Bosco (Hyeon Suk) Kim, CEO, NEXEN TIRE, said, “Maintaining the Gold rating for three consecutive years indicates that our sustainability management system is functioning effectively. We will continue to improve our ESG management practices in a systematic manner and contribute to sustainable mobility.”
TyreSafe Warns Drivers Against Ignoring Near-Miss Wake-Up Calls
- By TT News
- October 29, 2026
TyreSafe, UK’s leading tyre safety charity, has urged UK motorists to adopt preventative habits after research showed drivers react emotionally rather than practically following near-misses. The findings reveal that 23 percent of drivers shouted, gestured or sounded their horn after a frightening moment, while only 11 percent checked their tyres and 22 percent did nothing at all and kept driving. The pattern is consistent across the country, highlighting a widespread action gap in which drivers neglect simple steps that could improve safety.
The organisation wants near-miss experiences to serve as prompts for vehicle checks. It is promoting its ACT checks, which begin with air pressure: drivers should verify tyre pressures at least monthly and before long journeys using an accurate gauge, since correct pressures optimise braking, fuel efficiency and tyre life while lowering failure risk. Condition comes next, with tyres regularly inspected for cuts, cracks, bulges and embedded objects; any visible damage should be assessed immediately by a tyre professional as it may signal structural problems.
Finally, tread depth should be checked. For passenger cars, the UK legal minimum is 1.6 mm across the central three-quarters of the tyre around its entire circumference. Adequate tread is especially important on rural roads, where standing water and uneven surfaces can substantially raise the risk of aquaplaning and loss of control. TyreSafe's message encourages drivers to turn a scare into a safety check and act before reacting.
Stuart Lovatt, Chairman, TyreSafe, said, “A near-miss should be a warning sign – but too often it becomes a moment of frustration rather than reflection. Checking your tyres takes minutes, but it can make a critical difference in preventing the next incident. We need to move from reacting in the moment to acting in advance.”
Mitas To Showcase Agricultural Tyre Lineup At EIMA 2026
- By TT News
- October 29, 2026
Mitas has confirmed its participation in EIMA International 2026, a major agricultural machinery exhibition running from 10–14 November in Bologna, Italy. Visitors will find the company in Hall 14 at Booth B2, where it plans to display a range of tyre solutions tailored to contemporary farming needs and reflective of its know-how across machines, applications and operating environments.
The centrepiece of the exhibit is GRANTERRA, the newest member of the Mitas agricultural family. Engineered for high-horsepower tractors, the tyre merges a contemporary tread layout with VF PFO technology to achieve solid traction, stability and efficient field performance. Its broader footprint encourages even load distribution and curbs soil compaction, fitting the requirements of modern large-scale farming while embodying the brand's goal of merging power, reliability and effective field performance.
Alongside GRANTERRA, three other ranges will be on show. AGRITERRA ULTRA targets agricultural trailers, spreaders and slurry tankers, blending high load capacity with durability and stability for demanding transport work in fields and on roads, with a large footprint and rounded shoulders that help protect soil and grassland. HCM provides versatile year-round performance for municipal tractors, road maintenance equipment and telehandlers across varied surfaces. AC 85, built for modern row crop farming, supports spraying, fertilising and crop care while shielding plants and roots and will be displayed in a dual-mounting setup demonstrating a practical configuration for greater flotation and traction.
By taking part in EIMA International 2026, Mitas underscores its commitment to agricultural tyre expertise, product performance and the needs of professionals engaged in a broad array of farming applications.
Roberta D’Agnano, Global Marketing Director Mitas at Yokohama TWS, said, “EIMA is an important opportunity to meet customers and partners from across the agricultural sector and showcase solutions developed around their everyday needs. With GRANTERRA, we expanded our portfolio for high-horsepower tractors with a solution that brings together traction, reliability and VF PFO technology. Alongside AGRITERRA ULTRA, HCM and AC85, it reflects the breadth of our expertise and our commitment to supporting agricultural professionals with tyre solutions suited to their everyday challenges.”
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