BKT completes 30KT carbon plant project
Balkrishna Industries Limited has concluded its project to set up a new carbon material plant. The tyre maker says it has commissioned the 30,000 tonne per annum facility after completing the project’s capex.
India
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Shipping industry warned about tyre exports, TRA welcomes EA guidance
At the end of 2023, India’s Automotive Tyre Manufacturers’ Association (ATMA) released a report which stated that India imported approximately 800,000 tonnes of end-of-life tyres (ELT) between April and November 2023. The UK and EU member nations being the primary contributors. The UK was identified as one of the leading exporters of ELTs to India, supplying as much as 30 per cent of their import market. On 3 September, the EA clarified its position on the illegal export of ELTs to India for pyrolysis. Any waste export must be accompanied by a fully completed Annex VII. In response, the Tyre Recovery Association (TRA) welcomed the EA’s statement of responsibilities and particularly the fact that it explicitly states that any waste export must be accompanied by a fully completed Annex VII.
IPO for India’s Tolin Tyres
Today is the third and final day of the initial public offering for Tolins Tyres Ltd., a Kerala, India-based manufacturer of on- and off-highway tyres and tread rubber. According to information supplied by stock exchange BSE, the company is offering up to Rs 2,300 million (£20.9 million) worth of shares, including a fresh issue worth Rs 2,000 million and an offer for sale of up to Rs 300 million by the selling shareholders.
Apollo Tyres plant gains 5-star British Safety Council rating
The British Safety Council has conducted an audit of the Apollo Tyres factory in Andhra Pradesh, India, and on the basis of this evaluation awarded the tyre maker a Five Stars rating. Reporting this distinction, Apollo Tyres emphasises that gaining a Five-Star occupational health and safety audit rating demonstrates the company’s “commitment towards the continual improvement of health and safety management systems and associated arrangements.”
Leadership changes within Goodyear India team
Goodyear India Limited has announced several changes within its management. The company’s Board of Directors has approved the appointment of Suni Modi as Interim Chief Financial Officer and Ganga Nandan Mishra as VP – Farm & Commercial PBU. Both commenced in their new roles on 14 August 2024. Furthermore, Sujit Guha, who is currently Goodyear India’s Head-Supply Chain, India (Senior Management Personnel), is moving to a different role within the Goodyear group from 2 September 2024.
India: Tirupati Tyres may gain from Michelin order
The Press Trust of India (PTI) reports that the Indian stock market is “abuzz with excitement” surrounding Tirupati Tyres Limited as rumours of a Rs 3.5 billion (£32.2 million) raw material supply order from global player Michelin gain traction. Although neither Michelin nor Tirupati Tyres have announced any such transaction, PTI notes that the finalisation of such a potential deal could “send Tirupati Tyres’ stock price skyrocketing” – according to PTI, experts predict a “staggering 1250 per cent gain” in the Tirupati Tyres share price over the coming six months.
New owners to relaunch Birla Tyres by 2025
One of the owners of Birla Tyres says that the Indian tyre maker will soon make a market comeback with a new range of products. Anurag Choudhary, chief managing director and chief executive officer of Himadri Specialty Chemical Ltd, told the Times of India that Birla Tyres will relaunch by 2025 and offer a product portfolio that includes OTR tyres as well as both cross-ply and radial products.
BKT completes Bhuj mould facility
BKT confirms that it has completed work on a new tyre mould plant at its Bhuj site in Gujarat, India. The tyre maker states that, as planned, it invested a capital expenditure of Rs 3 billion (£27.7 million) into this project.
CEAT Specialty Presents fifth ITOTY Awards in India
CEAT Specialty Tyres, in collaboration with Tractor Junction, presented the 5th edition of the Indian Tractor of the Year Awards (ITOTY) on 10 July 2024. Held at the prestigious TAJ Vivanta Dwarka in New Delhi, India, the event brought together OEMs, farmers, customers, influencers, media, and industry leaders to celebrate advancements and innovations in the tractor sector.
JK Tyre & MRF publish annual reports
Indian tyre makers MRF Ltd. and JK Tyre & Industries have published their annual reports for the 2023-24 financial year ahead of their respective annual general meetings on 1 and 2 August. Both documents can be read and downloaded here.
JK Tyre launches next generation commercial vehicle tyre lines
JK TyreLeading Indian truck and bus radial (TBR) manufacturer, JK Tyre & Industries has introduced its new and advanced range of commercial tyres for the transportation sector. The company introduced four new variants, the Jetway JUM XM, Jetway JUC XM, Jetsteel JDC XD, and the Jetway JUXe for electric buses. JK Tyre states that the expansion of its product portfolio underscores its “dedication to providing advanced, high-performance solutions that combine superior performance, economic benefits, and environmental responsibility.” It said the launch was a “significant milestone” in its commitment to driving sustainable mobility solutions; the tyres are designed to enhance performance, operational efficiency, cost savings and sustainability.
JK Tyre gains ISCC Plus Certification for its Chennai plant
JK Tyre & Industries reports that it has become the first tyremaker in India to receive the prestigious International Sustainability and Carbon Certification (ISCC) Plus for its Chennai plant. Achieving ISCC Plus certification requires compliance with numerous criteria, including the traceability of raw materials, adherence to environmental regulations, preservation of ecosystems, upholding labour and human rights, and promoting sustainable economic development. The final audit for this certification was conducted by the Indian counterpart of the certification body based in Kolkata.
JK Tyre partners with EV firm EKA Mobility
JK Tyre & Industries has joined forces with EKA Mobility, a leading player in the electric mobility sector with Mitsui Co., Ltd. (Japan) & VDL Groep (Netherlands) as equity partners. The long-term agreement was signed in Pune in the presence of Sanjeev Sharma, AVP, Fleet Management & Mobility Solutions, JK Tyre and Vijaykumar Yelne, President of EKA Mobility.
JK Tyre investing in additional production capacities
During a recent earnings call, JK Tyre & Industries’ managing director, Anshuman Singhania, shared that the company is investing Rs 14 billion (£131.76 million) to increase its production capacities for TBR, PCR and ASLTR (all-steel light truck radial) tyres. He commented that these projects are “under implementation and progressing well.”
Maxion Wheels partners to bring scholarship programme to India
Maxion Wheels, a global leader in wheel manufacturing for various automotive sectors, has announced an initiative in collaboration with the Brazil-based Iochpe Foundation and India’s Savitribai Phule Pune University. The partners are introducing the foundation’s Formare academic scholarship programme, well-established in Brazil and Mexico, into India.
