Speciality materials company Trinseo reported a third-quarter net loss of USD 87 million, driven largely by restructuring and other charges totalling USD 26 million. 

This follows recently announced restructuring efforts aimed at streamlining operations. The company posted an adjusted EBITDA of USD 66 million, marking a USD 25 million increase year-over-year.

Despite a one percent year-over-year decline in net sales to USD 868 million, the company attributed an eight percent decrease in sales to intentional reductions in low-margin areas like polystyrene and latex binders. However, a seven percent increase from higher raw material prices partially offset this decline.

Commenting on the company’s third-quarter performance, President and Chief Executive Officer of Trinseo, Frank Bozich said, “As expected, market conditions and Adjusted EBITDA were sequentially similar to the prior quarter. Despite continued weak demand in many of our end markets, particularly building and construction and appliances, we saw significant year-over-year profitability improvement largely as a result of our restructuring actions and continued moderation of European input costs.”

Third Quarter Performance by Segment

Engineered Materials: The segment posted a 12 percent rise in net sales, reaching USD 207 million, driven by increased sales volume in consumer electronics and medical applications. Adjusted EBITDA for the segment rose by USD 20 million to USD 25 million, benefiting from improved margins and a favourable product mix.

 Latex Binders: Net sales increased eight percent to USD 242 million, primarily due to higher prices that offset a drop in sales volume for paper and carpet applications. Adjusted EBITDA increased by USD 8 million to USD 26 million, reflecting improved margins and a positive regional and product mix.

Plastics Solutions: Net sales rose three percent year-over-year to USD 268 million, driven by higher raw material costs. Adjusted EBITDA climbed USD 11 million to USD 28 million, aided by higher fixed cost absorption and inventory builds in preparation for the closure of the virgin polycarbonate facility in Stade, Germany.

Polystyrene: This segment saw a 28 percent year-over-year decline in net sales to USD 151 million, impacted by a 35 percent decrease in volume after the closure of the Terneuzen, Netherlands, facility and a reduction in low-margin sales. Adjusted EBITDA rose by USD 5 million to USD 4 million due to higher margins and cost savings from the Terneuzen facility exit.

Fourth Quarter Outlook

Trinseo projects a net loss of between USD 71 million and USD 81 million in the fourth quarter, with adjusted EBITDA expected to range from USD 40 million to USD 50 million. Bozich noted that while fourth-quarter EBITDA is anticipated to dip from year-end seasonality, restructuring benefits should sustain profitability above prior-year levels. The company also expects positive free cash flow due to seasonal working capital improvements.

Commenting on the fourth quarter outlook, Bozich said, “We expect Adjusted EBITDA to be sequentially lower from year-end seasonality, but still higher than the prior year due to the benefits from our restructuring initiatives. We also expect free cash flow to turn positive in the fourth quarter due to typical seasonal working capital improvements.”

Wabash, a leading supplier of connected solutions for the transportation, logistics and distribution industries, has renewed its strategic agreement with the Goodyear Tire & Rubber Company, one of the world’s largest tyre companies.

The agreement is expected to further strengthens Goodyear’s position as the preferred tyre supplier for Wabash's van, tank and platform trailers, and will also provide Wabash customers with full-service tyre management support.

Richard Mansilla, Vice-President, global supply chain at Wabash, said, “We are excited to continue our long-standing relationship with Goodyear. This agreement strengthens our supply chain with a premium brand, enhances customer support and contributes to the continued growth of the Wabash ecosystem. We look forward to building on our shared commitment to industry innovation and exceptional service.”

For over 15 years, Goodyear has been the equipping Wabash with tyres for its trailer product lines.

Joe Burke, Vice-President of Goodyear’s North America Commercial business, said, “Goodyear's collaboration with Wabash underscores our combined focus to deliver high-quality, innovative products and seamless, end-to-end services to van, tank and platform trailer customers. We are excited to continue advancing solutions that enhance the Wabash customer experience and help ensure they carry their cargo with confidence.”

Continental, one of the leading tyre and automotive technology suppliers, has launched its new fuel-efficient, long haul drive tyre – Conti HDL 3 EP - for the United States Market.

The company stated that the new tyre combines high-structure carbon black and silica technology to deliver a well-balanced mix of rolling resistance and durability. It features a polymer matrix-bound silica compound, which enables up to 10 percent better rolling resistance compared to its predecessor and is SmartWay verified for Class 8 long haul tractor trailers.

Shaun Uys, Head of Continental’s Truck Tyre Replacement Business in the US, said, “The Conti HDL 3 EP was purposefully designed with a fleet’s needs in mind – from being built on 3G Casing for maximum retreadability, to its improved rolling resistance and even wear. This premium long-haul tire was designed to help fleets achieve their lowest overall driving cost.”

The Conti HDL 3 EP comes with groove geometry reduces stone retention, and the tyre offers up to 15 percent improved cut and chip resistance, further extending its lifespan.

It is built on Continental 3G Casing that has a 240-245 mm retread width, and features a state-of-the-art belt package that reduces heat, increases durability, and maximises retreadability. It can also be paired with Continental’s ContiConnect Live digital tyre monitoring system.

The tyre will be available for the replacement market in size 295/75R22.5 in load range G, and additional sizes to be introduced by Q1 2025. 

Bridgestone Corporation (Bridgestone), one of the leading trye manufacturers, is all set to supply the Battlax Hypersport S23 tyres as original equipment for the Kawasaki Ninja 1100SX.

The Battlax Hypersport S23 tyres feature a new pattern design, which the company said balances optimal changes in contact patch stiffness with exceptional water drainage properties for riding on wet surfaces. The tyres provide both enhanced grip and handling stability during straight-line riding and at large lean angles.

The Kawasaki Ninja 1100SX offers riding performance and aggressive styling. It is equipped with the KQS (Kawasaki Quick Shifter), a USB Type-C power socket, and a smartphone connectivity function.

The partners have co-developed the tyres through a long-term co-creation development.

Using racing as a ‘mobile laboratory,’ Bridgestone aims to refine technology in extreme conditions, evolving and connecting the innovation to the development of replacement tyres for the future under the concept ‘From Circuit to Street.’

The tyre maker is banking on motorsports activities to continuously evolve its ‘Dan-Totsu’ products and strengthen its global premium niche strategy in the premium motorcycle tyre business.

Hankook Tire has launched the fourth generation Ventus evo, a sporty ultra-high-performance summer tyre for changeable conditions.

Featuring a new mixture developed using artificial intelligence (AI), the tyre provides excellent wet grip and low rolling resistance. The wide drainage grooves work in tandem with the optimised tyre contact area to facilitate good evacuation of water and reduce the risk of aquaplaning, while the extra-rigid sidewalls and tread blocks provide stability during cornering and shorten the dry braking distance by six percent compared to the third-generation tyre. The innovative mixture, on the other hand, ensures low rolling resistance despite the high grip. This reduces fuel consumption and provides a 32 percent increase in mileage compared to the third-generation tyre.

Klaus Krause, Vice President and Head of Europe Technical Centre, Hankook, said, “With the fourth generation of the Ventus evo, we are setting new standards. We decided early on to leverage AI in the development of tyre mixtures and were able to successfully transform the laboratory results into high-quality industrial processes. Today, we’re seeing the benefits of that effort. With its innovative mixture ratio, the Ventus evo overcomes traditional trade-offs, delivering uncompromising excellence in performance, safety and mileage.”

The new Ventus evo and Ventus evo SUV will be available in stores in 58 sizes by this summer, with plans to expand the offering to 94 sizes – from 17 to 23 inches in widths from 205 to 325 in the 65 to 30 series and with speed indexes from V to (Y) – by the end of next year.