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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The second Sustainable Development (ESG) Industrial Ecosystem Innovation Competition for Chinese and Foreign Enterprises in Shanghai’s Pudong New Area recently concluded, with Sailun Group emerging as a distinguished honouree. Recognised for its collaborative ESG efforts with Vale, a global leader in metal and mining, Sailun received the prestigious ‘Innovative Model’ award, standing out as the sole tire company to achieve this recognition.

Organised jointly by the Shanghai Pudong Foreign-Invested Enterprises Association and the Shanghai Pudong Domestic-Funded Enterprises Association, the competition welcomed participation from companies registered and operating in the area, along with their partners. Invited by Vale Metals (Shanghai), Sailun took an active role by meticulously organising and presenting its innovative achievements in sustainable development. Through a structured application process highlighting solid practices and creative excellence, the company successfully secured the award.

Vale, one of the world’s foremost iron ore producers, maintains a longstanding strategic partnership with Sailun. Driven by a mutual dedication to sustainable supply chains, the two organisations have intensified collaboration, particularly in mining tyre supply. By integrating Sailun’s low-carbon tyre technologies, they inject environmental vitality into operations while enabling Vale to achieve refined efficiency through cutting-edge solutions. Their partnership exemplifies a synergistic model that harmonises efficiency, safety and low-carbon practices, serving as a standout case of ESG-driven empowerment across the industrial chain.

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Hankook Tire convened its annual Proactive Awards ceremony on 3 March 2026 at the Hankook Technodome, the company’s advanced research and development centre in Daejeon’s Yuseong District. This marks the 19th iteration of a programme that began in 2007, designed to acknowledge teams and personnel across its global operations for exceptional performance driven by innovative thinking and a willingness to take bold steps. The initiative stands as a key vehicle for embedding the Proactive Culture, a management philosophy championed by Hyunbum Cho, Chairman of Hankook & Company Group, throughout the organisation.

Around 100 people attended the gathering, including awardees from overseas and their families, alongside executives from the headquarters. The programme distributed accolades in four distinct classifications: Leadership, Performance, Challenge and Innovation. Ten groups and individuals, judged to have demonstrated the highest distinction in their respective fields, received trophies and monetary prizes reaching as much as KRW 20 million (approximately USD 13,568).

Within the Leadership category, honour was bestowed upon those who guided meaningful organisational transformation through adept communication and decisive action. Recognised here were Bonbae Koo, who heads the Gyeonggi Central PC/LT Team within the domestic sales division; Deokhee Ryu, leading the Material Machinery Team under Safety & Production Technology; Jiyoung Kim, who manages a manufacturing sub-team at the Keumsan Plant and Yue Peng, a line leader at the Chongqing Plant in China.

The Performance category, celebrating entities that have bolstered commercial competitiveness through remarkable achievements, saw awards presented to Manufacturing Team 2 at the Indonesian facility and the Romanian subsidiary representing European operations. Changmo Kang, a senior manager engaged in a real estate development project, received the Challenge honour for demonstrating significant results through an enterprising and bold approach.

Finally, the Innovation category recognised efforts producing substantial outcomes through transformative initiatives, particularly those involving digital advancements and practical, site-driven enhancements. Honourees included Nayoung Jeon, a manager within the Quality Digital Innovation Task Project; the Qingfeng Quality Control Circle from Manufacturing Team 3 at the Jiaxing Plant in China and the Oil Quality Control Circle, part of the DP PCR1 Sub-Team at the Daejeon Plant.

Through the consistent application of its foundational Proactive Culture, Hankook Tire continues to foster an environment where all employees are encouraged to evolve into proactive leaders capable of shaping the future of mobility. The company actively promotes open, horizontal communication to unlock individual creativity while simultaneously using the Proactive Awards to stimulate a healthy competitive spirit, thereby motivating both personal advancement and wider organisational progress.

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American Honda Motor Company has honoured Maxxis with its 2025 Racing Spirit Award, recognising the tyre manufacturer's exceptional performance as a supplier. This accolade acknowledges Maxxis’ consistent ability to meet Honda’s stringent requirements regarding product quality, punctual delivery and cost efficiency.

The two companies have maintained a strong partnership since 2005, when Maxxis first began supplying original equipment tyres for Honda’s powersports division. Today, Maxxis tyres are fitted to popular Honda models such as the FourTrax Foreman Rubicon 4x4 and the Pioneer SxS. Expressing his gratitude, Andy Lee, President of Maxxis International – USA, conveyed that the entire organisation feels deeply honoured by the recognition. He attributed the achievement to the dedicated efforts of Maxxis employees, whose daily commitment ensures excellent products and service for their long-standing partner. Lee also reaffirmed the company’s dedication to upholding Honda’s expectations in the years ahead.

Lee said, “I know I speak for everyone at Maxxis when I say that we are truly honoured and delighted to receive this award. I’m also proud of the Maxxis employees who work hard every day to deliver excellent equipment and service to our OE partner of more than 20 years. We thank Honda and look forward to continuing to meet their expectations in 2026 and beyond.”

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Michelin North America, Inc. has launched the Michelin XHA3 tyre at ConExpo 2026. The product is the next generation in the company’s loader and grader range, succeeding the XHA2 model.

The XHA3 replaces several previous lines, including the XHA2, XADN+, XAD65 and XLD. According to the company, this launch represents its most significant innovation in the earthmoving segment in over a decade.

The new tyre has been engineered to meet the requirements of modern construction machinery, which now operate with higher loads and longer duty cycles. The XHA3 features increased load capacity and improved tonne-kilometre-per-hour (TKPH) performance compared to its predecessor.

It is built to carry heavier loads for modern earthmoving equipment. A new tread pattern engineered for durability and traction in loader and grader applications. It is designed to increase TKPH performance and extend tyre life. Aimed at reducing the total cost of ownership for fleet operators.

Yahn Heurlin, VP of Marketing, Michelin North America, said, “With the Michelin XHA3 tire, we’re building on a heritage our customers trust while delivering the next level of performance they demand. Construction equipment continues to evolve with higher loads, longer duty cycles and greater productivity expectations. The XHA3 tire, is designed to help fleets unlock more ton-per-hour performance, carry heavier loads with confidence and extend tire life, all while reducing total cost of ownership.”

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