Sinochem is converting shareholder loans worth approximately 478 million euros into equity for China National Chemical Equipment (Luxembourg) S.á.r.l. (CNCE Lux), the parent company of the KraussMaffei Group. The transaction aims to strengthen KraussMaffei’s capital structure, improve financial performance and create opportunities for future investment.

The move highlights Sinochem’s commitment to KraussMaffei, reaffirming its support for the group. The debt-to-equity conversion will alter Sinochem’s ownership structure, with CNCE Lux becoming 90.76 percent owned by CNCE Group (Hong Kong) Co., Limited, another Sinochem entity. KraussMaffei Company Limited (KMCL), currently listed on the Shanghai Stock Exchange, will retain less than 10 percent ownership in CNCE Lux and plans to change its name accordingly.

Following the transaction, CNCE Lux and the KraussMaffei Group will no longer be consolidated into KMCL’s financial reporting, reducing mandatory disclosures and administrative workload. This will allow KraussMaffei to focus more resources on its core business.

The transaction is in its final phase, with all parties working to complete it promptly.

Westlake has introduced the 29.5R25 CB740 E4 off-the-road (OTR) tyre at the ongoing BAUMA 2025 in Munich, Germany. The tyre is specifically designed for articulated dump trucks (ADTs).

The CB740's tread depth is 17 percent deeper than the TRA's (Tyre and Rim Association) standard E-4 pattern, according to ZC Rubber, the brand owner of Westlake Tyre. The goal of this design is to give fleets working in demanding mining and construction situations a longer service life. To increase load-bearing capability and heat resistance, the tyre has a multi-layer steel belt design. Increased resistance to cuts, punctures and uneven wear is another benefit of the improved structure.

The wide block tread design of the CB740 E4 is intended to increase vehicle stability and ground contact on difficult construction sites. Additionally, the self-cleaning tread design is meant to lessen stone retention, which will help to shorten maintenance intervals.

Singapore-based global tyre maker Giti Tire has officially launched the Giti GSR237EVO and Giti GDR675EVO tyres under its new RFID-enabled EVO series of truck and bus tyres. The series, aimed at regional transport operators seeking fuel savings and environmental benefits, is part of the company’s Combi Road portfolio and complements the Eco Road range, which focuses on long-haul operations.

The new EVO series, which was developed at Giti Tyre's European R&D Centre in Hannover, Germany, is intended to provide lower Rolling Resistance Coefficients (RRC) for improved fuel efficiency and lower emissions. The former GSR237's C-grade RRC has been upgraded to a B-grade RRC in the GSR237EVO. It is available in sizes 315/70R22.5, 385/55R22.5 and 385/65R22.5. Additionally, the GDR675EVO drive tyre is upgraded from the previous GDR675 model to a C-grade RRC. It is now offered in 315/70R22.5. Both tyres provide quieter driving according to their A-grade exterior noise ratings.

Digital tracking of the tyre's full lifespan, from production to fleet usage, retreading and final disposal, is made possible by the incorporated RFID chips. Fleets may manage performance data and meet sustainability targets with the help of this digital traceability. By lowering hysteresis, the new internal compound technology and improved tyre curing procedures increase wear resistance and tyre longevity. This improves the tyre's retreading capability, which is a crucial aspect for fleet managers trying to keep long-term running expenses under control.

Antonio Palummo, Senior Manager – TBR, Giti Tire, said, “We are excited to bring the EVO series to the market, offering a clear performance advantage across key areas for regional fleet use. With lower rolling resistance, quieter performance and advanced lifecycle tracking, the GSR237EVO and GDR675EVO tyres help fleet managers identify energy-efficient options that perform across diverse driving conditions.”

Apollo Tyres has launched three new sizes for its AWE 723+ excavator tyre range at the ongoing Bauma 2025, Europe’s largest event dedicated to construction and industrial machinery, in Munich, Germany. The extended range will now cover machines from six to 26 tonnes.

Engineered to provide improved stability, traction and wear resistance under difficult working circumstances, the AWE 723+ is intended for heavy-duty excavator operations. The range now provides operators operating on a range of job locations with more options thanks to this size extension. As infrastructure and construction projects continue to expand throughout Europe and beyond, the new range seeks to satisfy the rising need for dependable and long-lasting off-highway tyres, said the company. More and more excavator operators are looking for tyres that offer consistent performance and a longer lifespan while handling a variety of terrain. According to the business, the increased AWE 723+ range demonstrates its continued dedication to providing machine operators with tyre options appropriate for changing on-site difficulties.

Benoit Rivallant, Chief Commercial Officer, Apollo Tyres Ltd, said, "We’ve just introduced a 3-size range for the Apollo AWE 723+, our unique excavator tyre solution, now fitting machines from six to 26 tonnes. It’s a major step forward for us, and one I’ve been genuinely excited to share."

South Korean tyremaker NEXEN TIRE has established a dedicated winter tyre testing center at UTAC’s proving ground in Ivalo, Finland, to strengthen its winter tyre research capabilities.

The new facility, located 300 kilometres north of the Arctic Circle, features research and development offices, workshops, and snow and ice tracks spanning an area equivalent to 20 football fields, with test tracks approximately 2,000 metres in length.

The centre will extend NEXEN’s winter tyre testing period from one month to four months annually, allowing for more thorough tyre performance testing in extreme winter conditions.

“As winter tire standards continue to strengthen, this investment is a crucial step to secure our technological competitiveness,” said Travis Kang, Global CEO of NEXEN TIRE. “The testing centre will not only reduce our development periods but also enhance the performance of our winter tyres through core technology research, reinforcing our presence in key markets while laying the groundwork for future growth in global markets."

The facility will conduct tests for the Three-Peak Mountain Snowflake (3PMSF) certification, the European standard for winter tyres. This could potentially bolster NEXEN’s position in the European market.

UTAC, Europe’s leading automotive testing company, will oversee the construction and operation of the centre, which is expected to begin entire operations in December 2025.

“We are delighted to welcome NEXEN TIRE to have their own establishment at our Finnish proving ground,” said Connor McCormack, CEO of UTAC. “We have a long-lasting partnership now, and we are proud to support the development work of NEXEN TIRE and their participation in leading mobility towards a safer future.”

NEXEN TIRE also operates winter testing facilities in Taebaek, South Korea, and Wanaka, New Zealand, allowing year-round testing under various winter conditions.

The company supplies its winter tyre model, "WINGUARD SPORT 2," as original equipment to premium vehicle brands.