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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Prinx Chengshan has successfully rolled off its first off-the-road giant tyre, model 30.00R51, a milestone celebrated by company leaders and Rongcheng Mayor Liu Jinjun. This achievement marks a crucial step in the construction of the firm's new green and intelligent off-road tyre factory and represents significant progress in enhancing its high-end product portfolio, effectively addressing a gap in the domestic market for premium off-road tyres.

The newly produced tyre, with an outer diameter of nearly three metres and a weight of 1.8 tonnes, is engineered for massive dump trucks operating in open-pit mines, capable of carrying loads over 120 tonnes. Its design features a wide, deep tread pattern for superior traction and a specialised shoulder cooling system that promotes heat dissipation. This innovation enhances safety by reducing risks such as blowouts while also improving operational efficiency and cost-effectiveness in demanding mining environments.

This strategic development responds to steadily rising global demand for high-end off-road tyres, fuelled by growing infrastructure investment and mining industry modernisation. The company's significant investment of over CNY 1.1 billion (approximately USD 158 million) in its new production base, initiated in 2025, underscores this focus. The facility, covering more than 100,000 square metres, is planned to have an annual capacity of 84,000 engineering tyres and 10,000 giant tyres for diverse applications across mining, construction and industrial sectors.

From its inception, the project has been guided by principles of high-end intelligence and green environmental protection. It incorporates modern workshops, smart manufacturing processes and sustainable initiatives like rooftop solar power generation to ensure energy-efficient development, reflecting a firm commitment to circular economy practices and Industry 4.0 standards.

Moving forward, Prinx Chengshan will leverage its global network of research and development centres to continue advancing independent innovation. By fully implementing a ‘Product + Service’ model, the company is committed to its in-depth transformation towards high-end, intelligent and green manufacturing. This direction aims to provide efficient and reliable solutions for global mining progress, injecting robust momentum from ‘China Smart Manufacturing’ into the industry's future.

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Giti Tire recently hosted an immersive event at its Hefei R&D Centre for its distributor and dealer network, moving far beyond a simple meeting to deliver a hands-on masterclass in future mobility. The core experience was a guided tour through Giti's Innovation Hub, where specialised zones deconstructed the entire tyre development journey. Partners witnessed firsthand the advanced materials, EV-specific engineering and rigorous motorsport-grade testing processes that form the foundation of Giti's collaborations with leading global automakers.

The event physically manifested this innovation with two pivotal showcases. Guests received a rare, hands-on examination of the Giti Flexcore (Airless) Technology, a concept designed for ultimate safety and sustainability by eliminating punctures. Furthermore, they experienced the cutting edge of automotive performance firsthand by entering the cabin of the YANGWANG U9X, a premier electric supercar, engaging directly with its advanced technology and premium construction.

This carefully curated experience was designed to demonstrate how Giti meticulously engineers, challenges and validates ideas long before production. By providing this transparent look into their technological ecosystem, Giti reinforced its role not just as a supplier but as a strategic partner invested in shared growth. The event served to align the network with the brand's forward trajectory, firmly establishing Giti’s commitment to co-shaping the future of mobility through tangible innovation and deepened collaboration.

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Michelin has launched a specialised tyre engineered to meet the rigorous demands of modern high-capacity mine and quarry loaders. The MICHELIN Xtra Power L5** 26.5 R25 tyre focuses on delivering durability and enhanced productivity in the most challenging operational environments while also prioritising operator comfort. This new size expands Michelin’s portfolio for loaders, building upon the earlier MICHELIN Xtra Power L5*** 35/65 R33 launched in 2021.

The tyre is built to handle complex applications, from face work and block handling to forestry transport and high-speed operations that impose extreme stress. It responds to the industry trend towards larger vehicles with bigger buckets, offering a substantial load capacity increase of up to 18.5 tonnes – a 23 percent improvement over the previous generation.

Key technical advancements underpin its performance. Engineers developed an innovative structure with a curved design and optimised rubber block support to minimise contact surface stress and boost protection. Reinforcements in the tread and shoulders improve damage resistance, while a larger bead heel enhances torque transmission and helps prevent rim slip, reducing premature wear.

Constructed to endure abrasive soils and aggressive surfaces like stone and rock, the tyre facilitates movement across varied terrain, supporting greater machine productivity. Its new tread design and unique rubber compound contribute to this robustness. Additionally, the design incorporates strengthened crown and protective layers with added metal for superior damage resistance.

For long-term cost efficiency, the tyre is designed to be retreadable, helping fleet managers optimise operational expenses. Operator safety and comfort are further enhanced by its capability to operate at pressures up to 7.5 bars, improving machine stability by 20 percent even during intensive loading cycles.

Clifford de Jager, CES Technical Manager, Beyond Road – Mining, Construction, Material Handling at Michelin, said, “At Michelin, we are always adapting and developing our products to ensure they match the needs of the latest machinery on the market. The MICHELIN Xtra Power L5** 26.5 R25 can handle the most challenging working environments while delivering optimised load capacity and improved torque transmission in a stable, comfortable and safe manner.”

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Hankook Tire is all geared up to showcase the prowess of its racing tyres as the ABB FIA Formula E World Championship arrives at the Miami International Autodrome for the 2026 Miami E-Prix. The event, serving as Round 3 of Season 12, marks the series' first World Championship race at this iconic venue, albeit on a shorter, 2.32-kilometre layout crafted for Formula E's distinct performance characteristics. This new circuit configuration around Hard Rock Stadium presents a balanced technical challenge, demanding optimal tyre performance in rapid warm-up, traction on corner exit and stability under heavy regenerative braking.

The temporary nature of the circuit, blending permanent asphalt with repurposed stadium grounds, ensures a weekend of significant track evolution. As the surface rubberises, grip levels will change, particularly in high-load areas, making consistent tyre behaviour a critical factor for success. Teams will rely on predictable temperature build-up and dependable grip to execute qualifying strategies and manage energy efficiency throughout the race. Central to meeting this challenge is Hankook's iON Race tyre, engineered to provide strong adhesion and precise handling while maintaining the crucial low rolling resistance required in the all-electric championship.

This motorsport engagement is a cornerstone of Hankook's premium brand advancement in the region, running parallel to its role as a Founding Partner of the Tomorrow Golf League (TGL). Beyond the track, the Miami event will be a full spectacle, featuring a vibrant festival atmosphere with live entertainment, interactive fan experiences and local food offerings. With the home crowd supporting US-linked teams like Andretti and DS PENSKE, and a new circuit testing every component, the E-Prix is set to be a defining event, powered by the technology within Hankook's tyres.

Manfred Sandbichler, Senior Director, Hankook Motorsport, said, “Miami is the type of venue that immediately raises the technical stakes. With a Formula E layout making its first championship appearance at the Miami International Autodrome, teams arrive without the usual backlog of race-weekend references. That places even greater importance on tyre consistency, traction stability and temperature control. We’re looking forward to seeing the iON Race support close, high-intensity racing as Formula E brings its street-racing character to Miami.”

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