Speciality materials provider Trinseo reported a first-quarter net loss of USD 79 million on Monday, despite restructuring efforts that boosted adjusted EBITDA by 44 percent compared to the same period last year.

The Pennsylvania-based company, which manufactures plastics, latex and rubber, saw its net loss widen slightly from USD 76 million a year earlier, weighed down by USD 25 million in refinancing costs from debt transactions completed in January.

Trinseo's quarterly revenue fell 13 percent to USD 785 million, as the company grapples with weak demand across all business segments and its strategic reduction of low-margin sales.

“Core business results in the first quarter were in line with expectations and sequentially higher due to prior quarter customer destocking and seasonality," said Frank Bozich, President and Chief Executive Officer of Trinseo. “Despite persistent market weakness, the first quarter was Trinseo’s 7th consecutive quarter of year-over-year Adjusted EBITDA improvement driven by the various management actions we took early in this industry downturn."

Adjusted EBITDA rose to USD 65 million from USD 45 million a year ago, bolstered by USD 26 million in polycarbonate technology licensing income and cost-cutting measures, though partially offset by lower volumes and reduced income from its Americas Styrenics joint venture.

Cash used in operations totalled USD 110 million, whilst capital expenditures reached USD 9 million, resulting in a negative free cash flow of USD 119 million. The company ended the quarter with USD 128 million in cash, of which USD 2 million was restricted, and total liquidity of USD 421 million.

Among its business segments, Engineered Materials recorded a 2 percent drop in sales to USD 278 million, yet saw adjusted EBITDA jump by USD 16 million to USD 26 million. Latex Binders sales declined 13 percent to USD 209 million, with adjusted EBITDA slipping USD 2 million to USD 24 million.

Polymer Solutions, despite a 22 percent sales decrease to USD 298 million, posted a USD 15 million increase in adjusted EBITDA to USD 44 million, benefiting from fixed cost reductions and licensing income. Americas Styrenics fell to a negative USD 2 million in adjusted EBITDA, down USD 8 million from the previous year.

Looking ahead, Trinseo forecasts a second-quarter net loss between USD 61 million and USD 46 million, with adjusted EBITDA ranging from USD 55 million to USD 70 million. The company expects approximately break-even free cash flow, which includes USD 21 million from polycarbonate technology license income.

The company has withdrawn its full-year guidance previously provided during its debt refinancing, citing high macroeconomic uncertainty limiting its ability to assess future end-market demand.

Bozich expressed confidence in the company's outlook, stating: "We anticipate Adjusted EBITDA of USD 55 million to USD 70 million in Q2 with seasonally higher volumes, lower costs in Engineered Materials, and improved AmSty performance offsetting the first quarter polycarbonate technology license income."

Trinseo expects limited direct impact from current tariffs, as it generally manufactures products and procures raw materials in the regions where they are sold.

Comments (0)

ADD COMMENT

Link Copied!

JK Tyre & Industries Ltd. has formally completed the merger of its subsidiary, Cavendish Industries Ltd., into its operations, a strategic move that follows Cavendish's acquisition in 2016. At that time, Cavendish was operating at only 30 percent of its manufacturing capacity for various vehicle tyres. Under JK Tyre's stewardship, the subsidiary received extensive managerial, financial and technical support, which facilitated a complete operational turnaround. Through optimised manufacturing processes, capacity utilisation dramatically increased to 95 percent. Additional expansion at the Laksar facility further bolstered its substantial contribution to the company's overall tyre production.

This consolidation is projected to generate significant value by combining operational strengths, achieving greater economies of scale, and creating a more robust and diversified product portfolio. The unified entity will also benefit from an extensive, integrated distribution network. The merger aligns with JK Tyre's enduring strategy of pursuing sustainable growth through both organic projects and strategic acquisitions. Cavendish’s successful integration represents the company’s third major operational turnaround, following previous revitalisations of Vikrant Tyres and JK Tornel Mexico, alongside the establishment of two Greenfield plants.

Comments (0)

ADD COMMENT

Link Copied!

Hankook Tire has further solidified its commitment to sustainable manufacturing with the recent International Sustainability & Carbon Certification (ISCC) PLUS awarded to its Daejeon plant. This globally recognised certification validates the use of bio-based and recycled materials and ensures supply chain transparency, representing the company’s third such achievement following earlier certifications at its Geumsan and Hungary facilities. At the Daejeon site, the substitution of fossil-based synthetic rubber with bio-circular polymers has substantially lowered the environmental impact across the entire product lifecycle.

This milestone reinforces Hankook Tire’s comprehensive ESG strategy, which now encompasses original equipment, replacement and motorsport tyre production. A notable example is the supply of high-performance rally tyres, incorporating up to 31 percent sustainable materials, for the 2025 FIA World Rally Championship. The company’s sustainable innovation is also evident in products like the iON evo tyre for the Porsche Taycan, which uses 45 percent recycled and recyclable materials without compromising performance. Similarly, the iON GT replacement tyre for the European market integrates up to 77 percent certified materials and has earned top EU Tyre Label ratings.

Beyond product development, Hankook Tire is pioneering future mobility solutions, showcased by a concept tyre with 81 percent sustainable materials presented at IAA Mobility 2025. In electric motorsport, as the exclusive tyre supplier for Formula E, the company has earned the FIA’s highest environmental accreditation and is set to introduce the iON Race tyre containing 35 percent sustainable materials.

To accelerate these efforts, Hankook Tire is pursuing open innovation through collaborations with technology partners such as ROTOBOOST and Solvay, focusing on advanced materials like turquoise hydrogen-based carbon black and circular silica. The company is also engaged in national research consortia to validate carbon-reduction technologies and enhance the commercial readiness of sustainable alternatives, consistently aiming to merge high performance with ecological responsibility across its global operations.

Comments (0)

ADD COMMENT

Link Copied!

Bridgestone India has reconstructed and revitalised the government school in Kuti village, near the National Automotive Test Tracks (NATRAX) in Madhya Pradesh, under its Corporate Social Responsibility (CSR) initiative. The project directly serves a marginalised community of tribal groups and migrant labourers from states like Uttar Pradesh and Bihar. Previously, the school operated in a perilous and crumbling structure, lacking even basic facilities for its 175 students, despite the steadfast efforts of three teachers. The new, purpose-built campus now provides structurally safe and vibrant classrooms, dedicated child-friendly spaces and access to essential amenities.

This transformation is set to dramatically improve student enrolment and daily attendance by replacing a hazardous environment with one that is secure and conducive to learning. More than just infrastructure, the initiative instils a renewed sense of dignity and aspiration in both students and their families, who work primarily as daily-wage labourers, vegetable vendors and construction workers.

Executed in collaboration with the district administration and education department, this effort reflects Bridgestone India’s core mission of driving long-term social impact through strategic community partnerships. By focusing on critical gaps in educational infrastructure for displaced and underserved populations, the company fosters an environment where children can truly thrive and communities can build a more hopeful future.

Comments (0)

ADD COMMENT

Link Copied!

Marking a significant milestone, the Nokian Tyres facility in Oradea, Romania, produced its one millionth tyre of the year on 20 December 2025, thereby reaching its annual production target. This new factory, inaugurated in September 2024, began deliveries in March and is dedicated to supplying passenger car tyres for the European market.

Its inaugural year saw the production of premium models like the Nokian Tyres Snowproof 2 winter tyre, upholding the company’s 90-year legacy of safety and sustainability. The product range expanded this year with the launch of two further tyres for Europe: the Seasonproof 2 all-season and the Powerproof 2 summer tyre, with more new products planned for future manufacture at the site.

Distinguished as the world’s first full-scale zero-CO2-emissions tyre factory, the Oradea plant operates entirely without fossil fuels, employing cutting-edge production technology. Upon its anticipated completion around the end of 2027, it will become Nokian Tyres’ largest global production facility, accounting for roughly 40 percent of total capacity. It represents the company’s third major manufacturing hub alongside its existing factories in Nokia, Finland, and Dayton, US. Currently, the Romanian operation employs over 500 people, underscoring its important role in Nokian Tyres’ strategic European production network.

Paolo Pompei, President and CEO, Nokian Tyres, said, “I am very proud of our entire team for their hard work in reaching this milestone. It is a strong testament to our commitment to customers across Europe, enhancing our service level and delivering innovative products that ensure safety and comfort for drivers in all conditions.”

Comments (0)

ADD COMMENT

Link Copied!