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.”

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Giti Tire made a significant contribution to a new land speed record of 472.41 kmph on 8 August 2025, achieved by the BYD Engineering Test Prototype supercar at Germany’s ATP proving grounds. The vehicle – a Yangwang U9 Track Edition – was equipped with Giti’s advanced GitiSport e.GTR2 Pro tyres, marking a major advancement in electric vehicle tyre technology and establishing a new benchmark for high-performance electric mobility.

Giti’s involvement in this pioneering project began in April 2023, with the company leveraging its technical expertise and proven track record to become a development partner. The first prototype tyre was completed in March 2024, followed by a test run reaching 375 kmph that July at the Yangcheng Test Site. Continued refinement led to a record of 391.93 kmph for the Chinese EV market during tests at ATP in late 2024. By June 2025, advanced prototypes had already demonstrated their capability by achieving 500 km/h in controlled indoor testing, paving the way for the August record.

The GitiSport e.GTR2 Pro was specifically engineered to overcome the unique demands of electric supercars, which combine extreme weight, high horsepower and intense dynamic forces. The tyre incorporates multiple cutting-edge technologies to ensure performance and safety. These include a molecularly optimised rubber compound for strength at high speeds, ultra-high-strength aramid fibres for improved load capacity and a racing-derived profile that promotes even pressure distribution. Additional features comprise a race-grade grip formulation that significantly increases traction, a specialised structure that prevents deformation, additives for faster warm-up and a bionic sidewall design for superior cornering response. The tyre is fully certified to international standards.

This record-breaking initiative reflects Giti’s broader strategy to transfer motorsport technology to its future street-legal products, anticipating the growing electric supercar and motorsports sector. The development process for the GitiSport e.GTR2 Pro also adhered to the company's global low-carbon objectives, emphasising sustainable manufacturing.

A dedicated technical team provided comprehensive support for the record attempt, managing all tyre-related operations including usage strategy and environmental conditioning. This achievement underscores Giti Tire’s commitment to combining race-proven innovation with practical, high-performance tyre solutions for the evolving electric vehicle industry.

Ge Feng Lei, Deputy General Manager, Project Management Department, Giti Research & Development Centre, said, “We are proud to have partnered with BYD on the Engineering Test Prototype project and to have contributed to this historic achievement. This record validates our technical expertise and reinforces our commitment to enabling the next generation of sustainable, high-performance electric mobility.”

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Indian tyre manufacturer secures top grading for the second time in a comprehensive health and safety audit

Indian tyre manufacturer CEAT Limited has secured a five-star rating from the British Safety Council following a comprehensive occupational health and safety audit at its Halol manufacturing facility, the company announced on Monday.

The audit, conducted by the UK-based British Safety Council, evaluated CEAT’s health and safety policies, processes and practices through documentation reviews, management interviews and operational sampling across more than 50 component elements.

This marks the second occasion the Halol plant has achieved the prestigious five-star grading, having first earned the recognition in 2016. The latest assessment brings CEAT’s total to four facilities holding British Safety Council accolades, alongside plants in Nagpur, Chennai and Ambernath.

“The award of a five-star grading following our occupational best practice Health and Safety Audit is an outstanding achievement and is reflective of a proactive organisation which is committed to continual improvement in its health and safety arrangements and managing risks to workers’ health, safety and wellbeing,” said Mike Robinson, CEO of the British Safety Council.

The Mumbai-based company, which competes in India’s competitive tyre market alongside global manufacturers, has positioned workplace safety as a cornerstone of its operational strategy rather than merely a compliance requirement.

“Earning the Five Star rating from the British Safety Council is a significant milestone that underscores CEAT’s unwavering commitment to occupational health, safety, and wellbeing,” said Jayasankar Kuruppal, Senior Vice President, Manufacturing, CEAT. “At our Halol plant, safety is not treated as a regulatory requirement but as a core value embedded in our culture and operations.”

The recognition comes as Indian manufacturers face increasing scrutiny over workplace safety standards, particularly in heavy industrial sectors. CEAT’s achievement demonstrates the company’s focus on maintaining international safety benchmarks across its manufacturing operations.

“Through investments in advanced technologies, rigorous risk management, and active employee engagement, we are creating a benchmark for world-class manufacturing practices,” Kuruppal added.

The British Safety Council’s five-star rating represents the highest tier in the organisation’s occupational health and safety audit framework, reserved for companies demonstrating best-practice standards in worker protection and safety management systems.

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Pirelli celebrated a dominant one-two finish at the Rally of Ceredigion, the penultimate round of the 2025 FIA European Rally Championship. Jon Armstrong secured a commanding victory in his Pirelli-equipped Ford Fiesta, finishing over 29 seconds ahead of fellow Pirelli driver Jürgenson Romet in another Fiesta.

The success extended beyond the podium as Andrea Mabellini delivered a powerful performance in his Pirelli- equipped Skoda Fabia, winning the Power Stage. This critical result earned him valuable points, moving him into second place in the overall championship standings ahead of the season's final round. The Welsh victory also propelled Pirelli into the lead of the Tyre Manufacturers’ championship.

This outstanding team result was made possible by the exceptional performance and consistency of the complete P Zero range, which was used in its entirety for the first time this season. Crews were equipped with P Zero tyres in hard, medium and soft compounds, perfectly suited to the cool Welsh temperatures. The versatile Cinturato wet tyre also proved indispensable, providing crucial grip on rain-soaked stages.

Pirelli’s winning weekend was further highlighted by a victory in the FIA European Historic Rally Championship, where Jari-Matti Latvala won the Greek round driving a Toyota Celica on Pirelli tyres.

Terenzio Testoni, Pirelli Rally Activity Manager, said, “Our products for both dry and wet conditions once again demonstrated their versatility across all surfaces, in extremely variable and challenging conditions. We are heading for a thrilling championship finale: both Mabellini and Armstrong remain firmly in contention for the title. In Croatia, for the final round of the season, we will undoubtedly witness a fierce battle – and tyres will once again prove decisive. In the meantime, congratulations to Jon for his victory here in Wales: he showed authority and composure, as well as talent. Our congratulations also go to Romet, another promising young driver selected through the FIA Rally Star programme, supported by Pirelli.”

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World-record holder endurance driver Rainer Zietlow embarked on the ambitious ID. Buzz World Tour on 1 July 2025, launching from Volkswagen Commercial Vehicles' headquarters in Hanover, Germany, with an objective to secure a Guinness World Record by travelling through 75 countries across six continents in a zero-emission vehicle. This eight-month, 80,000-kilometre expedition in a fully electric VW ID. Buzz is designed to demonstrate the capabilities of sustainable mobility on a global scale.

A critical partner in this endeavour is Giti Tire, which is supplying its GitiSynergy H2 tyres for the entire circumnavigation. This collaboration serves as a rigorous real-world test of durability and performance, underscoring the vital role that tyres play in the overall efficiency and success of electric vehicles. The mission aims to prove that clean, long-distance travel is a practical reality when advanced battery technology is supported by high-quality, innovative components.

The journey's initial phase saw the electrified convoy traverse diverse European landscapes. After a ceremonial send-off, the tour commenced, with early stops encompassing cultural landmarks from Shakespeare’s birthplace in the UK to the vibrant streets of Dublin. The route then challenged the team with the formidable snow-capped peaks of the Alps, a passage by Vatican City, and the rugged terrain of the Balkan Mountains. Progress was tested by severe weather, including intense storms in Spain that forced a painstakingly slow crawl through flooded roads. By the end of July, the tour had advanced through Eastern Europe into Turkey, Georgia and Armenia before pushing into the vast expanses of Central Asia, reaching Uzbekistan and the Aral region.

Looking ahead, the expedition faces its most demanding challenges. The upcoming leg will navigate the remote and harsh environments of Central Asia, Mongolia and China, where charging infrastructure is sparse. The journey will then continue through Southeast Asia before moving south to Australia and Oceania. These formidable conditions will push the vehicle and its tyres to their limits, truly testing the resilience of sustainable transportation. With every kilometre, the tour moves closer to its world record goal, delivering a powerful message that the future of global travel is unequivocally electric.

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