The owner of a North London tyre shop has been banned as a director for 10 years after overstating his company’s turnover to secure a maximum-value Covid loan. Shkelzen Gashi ran Smart Tyres Services Ltd from his address on Harringay Road from 2015 to 2022.
World Bank Group subsidiary International Finance Corporation (IFC) has sanctioned a US$100 million Sustainability-Linked Loan (SLL) to JK Tyre. The funding will support the expansion of tyre manufacturing capacity, focusing on passenger car radial tyres at JK Tyre’s Banmore plant in Madhya Pradesh and truck and bus radial tyres at CIL’s Laksar plant in Uttarakhand. IFC views this as an initiative that will promote energy-efficient tyre production, strengthen local supply chains, and create jobs.
The management board of Firma Oponiarska Dębica S.A. concluded a loan agreement with Goodyear S.A., Colmar-Berg, Luxembourg on 20 December 2022, under which Debica will grant Goodyear a loan worth 100 million Polish Zloty (£18.333 million; 21.338 million euros; US$27.676 million). The loan repayment date has been set at 19 December 2023.
Prometeon Tyre Group reports that its Environmental, Social and Governance (ESG) Risk Rating has been graded as low, strengthening the tyre manufacturer’s commitment to its corporate social responsibility (CSR) and sustainability goals. The achievement is also crucial for managing a 350-million-euro sustainability-linked loan.
Pirelli & C. S.p.A. has announced that it will repay a 600-million-euro funding line on 25 October 2022 “in advance and in full”. The debt had originally been due 25 January 2023.
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Miguel A. Padrinan; Pixabay
Prometeon