Apollo Tyres has announced that 50 of its highly specialised CV Zones have received the TUV – IRF certification, ensuring standardised service delivery across all the centres pan India. The TUV – IRF certification is a globally recognised symbol of quality, safety and sustainability.

This achievement will ensure customers premium services, availability of certified technicians and delivery process-oriented services across all locations. The company hopes to see improved footfall with the new accomplishment. 

Satish Sharma, President, Asia Pacific, Middle East and Africa (APMEA), Apollo Tyres, said, “As the leader in the commercial vehicle category in India, we want to ensure that our biggest customers can extract the maximum out of our products, and they do get standardised service across locations. This will help bring down their operational costs and enhance their experience. With changing market dynamics and newer vehicle platforms, consumers also need to be guided through their tyre purchase decisions.”

The Apollo CV Zones are certified branded retail outlets that offer end-to-end tyre related services for trucks and buses. It also has a training centre to guide the customers through their tyre purchase decisions. (TT)

Comments (0)

ADD COMMENT

Link Copied!

Tana Oy is expanding its waste processing portfolio with the launch of its Multi Waste Buckets MWB17 and MWB23, positioning the products as a lower-cost alternative to standalone pre-shredders.

The loader-mounted attachments integrate pre-shredding and bag opening at the point of loading, eliminating the need for separate shredding equipment. The approach is designed to streamline operations by reducing material size earlier in the process, improving feed consistency for downstream sorting, recycling and energy recovery systems.

The company said the integrated solution can lower operating costs by cutting the number of machines required on site, reducing fuel consumption and maintenance needs and minimising unplanned downtime. By removing additional handling steps, the buckets also aim to simplify internal logistics and improve site efficiency.

The MWB units are designed for plug-and-play installation across a range of wheel loaders and material handlers, enabling operators to process waste directly at the loading stage. The system delivers a particle size of roughly 300–400 millimetre and throughput of up to 90 cubic metres per hour, supporting higher recovery rates and reduced wear on secondary equipment.

Both models feature a three-axle design intended to optimise cutting performance and material flow, supported by higher torque on outer axles and a faster central axle. Additional design elements including protected bearings and self-cleaning structures are aimed at improving durability and reducing maintenance requirements.

The MWB17 targets 10–15-tonne loaders, while the MWB23 is designed for 13–20-tonne machines, allowing deployment across varying operational scales. The company said the products can either replace or complement conventional pre-shredders as part of efforts to improve cost efficiency and sustainability in waste processing.

“Pre-shredding is the critical first step in turning waste into value. With the TANA Multi Waste Buckets, we are bringing that step directly into the loading phase making the process simpler, more flexible and significantly more cost-efficient for our customers,” says Eetu Tuovinen, Product Marketing Manager, Shredders, Tana Oy.

Field experience has shown that integrating pre-shredding into the loading phase can streamline site operations. “Customers have seen immediate benefits in terms of reduced transport needs, smoother material flow and less downtime in downstream equipment. The ability to pre-process waste on the spot changes how efficiently the whole site can operate,” says Tuovinen.

Comments (0)

ADD COMMENT

Link Copied!

Finland-based Tana Oy has appointed Gerd Schreier as Vice President of Sales, Marketing and Channel Management, effective May 1, 2026, as the company sharpens its global growth strategy.

Schreier brings international experience in heavy equipment sales, aftersales and general management, having led global teams across direct and dealer networks. In the new role, he will oversee commercial operations with a mandate to expand market reach, strengthen channel alignment and drive consistent growth across regions.

Separately, the company named Olli Heinonen as Vice President of Product Marketing and Portfolio Strategy, also effective May 1. Heinonen, who has spent the past four years developing Tana’s distributor network across more than 50 countries, will now lead product and solutions strategy, with a focus on portfolio development and application coverage.

The leadership changes come as Tana seeks to scale its international footprint and reinforce its positioning in the waste management equipment market, with an emphasis on delivering measurable customer value and aligning product strategy with evolving global demand.

“Gerd brings exactly the kind of international commercial leadership and strategic mindset we need as we continue to grow our global presence,” said Jari Mennala. “His experience in building strong sales organizations and partner networks will be key as we sharpen our customer focus and accelerate growth.”

“I am passionate about building a more sustainable future through my work in the recycling industry. On a personal level, contributing to a circular economy is deeply rewarding and aligns with my values.

Professionally, I am motivated to be part of a leading organisation known for its strong customer reputation and commitment to excellence. I enjoy working in environments where innovation, responsibility and long-term impact come together to create meaningful change,” said Schreier.

“It has been a privilege to work closely with our global distributor network and to witness the strong commitment and collaboration that define Tana’s way of working. I am grateful for the partnerships we have built and the results we have achieved together. In this new role, I am excited to support the next phase of Tana’s product and solutions portfolio and strategic direction,” said Heinonen.

Comments (0)

ADD COMMENT

Link Copied!

LD Carbon, a South Korean environmental materials company, has filed a criminal complaint against its former chief executive and two senior finance officials, accusing them of embezzling corporate funds and misusing government subsidies through falsified payments and internal approvals.

The filing, submitted to the Suseo Police Station in Seoul and accessed by Tyre Trends magazine, names former CEO Hwang yong-kyung (YK), Chief Financial Officer Lee Chung-jin and Finance Manager Han Seung-yeon (Sara) as suspects in an alleged scheme that spanned from 2022 to 2023. 

At the centre of the complaint is what the company describes as a ‘bonus recycling’ scheme designed to create off-the-books cash. Following the complaint, a probe has been initiated. 

After LD Carbon raised about KRW 18.5 billion (approximately USD 12.5 million) in Series A funding in 2022, Hwang allegedly instructed selected employees to accept inflated bonuses or salary payments and return portions of the money in cash. 

The approach, according to the filing, was framed as a way to manage tax exposure while enabling payments that could not be processed through formal corporate channels.

Internal documents cited in the complaint show unusually large bonus allocations in the tune of tens of millions of won per employee, which is far exceeding typical compensation levels. 

The payments were approved through standard company processes with sign-offs from the finance department including the CFO, the filing states.

The complaint includes call recordings and internal communications in which employees were allegedly directed to return funds as well as bank transaction records showing the movement of money through employee accounts.

Broker fee dispute tied to fundraising
The company alleges that part of the diverted funds was used to pay a broker commission linked to the 2022 fundraising round.

According to the filing, a third-party intermediary involved in introducing investors was promised a success fee of roughly 2.5 percent of total funds raised, equivalent to about 137.5 million won. 

While the individuals allegedly agreed to cover the fee personally, the complaint claims the payment was instead funded using company money routed through the bonus scheme.

Messages cited in the complaint suggest internal discussions about dividing the fee among executives, indicating awareness that the expense was not a legitimate corporate liability.

Government subsidies allegedly misused
Beyond corporate funds, the complaint accuses the executives of improperly using government subsidies provided for environmental export and development projects.

LD Carbon participated in programmes administered by state-affiliated agencies to support overseas expansion of eco-friendly businesses. Under South Korean law, such subsidies must be used strictly for designated purposes.

The filing alleges that funds were instead diverted to unrelated expenses, including payments to affiliated or controlled businesses, costs for unrelated products such as golf balls and consumer goods and marketing and vendor payments supported by fabricated invoices.

Supporting materials include internal approval documents, emails and supplier invoices, which the company claims were falsified to justify the expenditures.

Potential legal violations
The allegations, if substantiated, could constitute multiple criminal offences under South Korean law, including occupational embezzlement, criminal breach of trust and violation of the Subsidy Management Act.

Under applicable statutes, misuse of government subsidies can carry penalties of up to five years in prison or significant fines with additional exposure under broader financial crime provisions.

The complaint alleges that the three individuals acted in collusion, emphasising how their roles complemented one another within the organisation’s financial structure. It points to Hwang, in his capacity as CEO, as having overarching authority and control over the organisation’s funds, thereby setting the strategic and operational direction.

It further highlights Lee’s position as CFO, noting his responsibility for financial oversight, governance and ensuring the integrity of financial management processes. Within this framework, Lee is portrayed as a key figure in monitoring and validating the movement and use of funds.

Finally, the complaint identifies Han, the finance manager, as the individual responsible for executing transactions. In this role, Han is described as operationalising financial decisions, thereby completing the chain of actions that, according to the complaint, demonstrates coordinated conduct among all three parties.

Internal disruptions 
Separate company records reviewed indicate that multiple employees resigned during and after the period in question. While there is no confirmed causal link between these departures and the alleged misconduct, the timing has drawn attention. 

Some employees named in the complaint appear to have been involved in processing or receiving the disputed payments, suggesting that certain staff members may have acted as intermediaries, knowingly or otherwise, within the alleged scheme.

At present, the matter remains at the complaint stage and it is unclear whether authorities have formally initiated a criminal investigation or undertaken actions such as issuing summons or conducting searches. 

Also, Korea Environmental Industry and Technology Institute (KEITI) conducted audit on LD Carbon on 24 April 2026, which will soon to be followed with further investigation and preliminary disposition if wrong use of govt fund is confirmed.

The case underscores growing regulatory and public scrutiny over how companies manage government-backed funding alongside private investment in South Korea’s innovation-driven economy. 

In recent years, regulators have intensified oversight, particularly in sectors linked to sustainability and advanced manufacturing. The outcome of the case may ultimately hinge on how authorities interpret the intent behind the transactions and whether internal approval mechanisms are found to have concealed or facilitated the alleged misuse of funds.

Comments (0)

ADD COMMENT

Link Copied!

Michelin reported lower first-quarter revenue after adverse currency movements offset stable underlying sales, while the tyre maker maintained its 2026 guidance amid growing geopolitical and supply chain uncertainty.

Group revenue for the three months to 31March fell 5.4 percent year on year to €6.2bn, compared with €6.5bn a year earlier. Michelin said the decline was entirely due to currency effects, primarily the appreciation of the euro against the US dollar and several other currencies. At constant exchange rates, revenue was stable.

Tire volumes declined 1.4 percent during the quarter, although replacement sales improved, supported by a 3 percent increase in MICHELIN-brand tire volumes. A favourable product mix, particularly in larger premium tires, partly offset weaker original equipment demand.

The Consumer segment recorded revenue of €3.4bn, down 4.4 percent on a reported basis. Michelin said replacement sales of passenger car and light truck tires remained resilient, while original equipment sales continued to be affected by weaker automotive markets, particularly in China. Sales of 18-inch and larger tires represented 69 percent of MICHELIN-brand sales during the quarter.

Revenue in the Transportation segment fell 11.3 percent to €1.4bn, reflecting weaker original equipment demand in North and South America and adverse exchange rates. Replacement sales increased in Europe but remained subdued in North America amid a softer road freight market.

The Specialties segment reported revenue of €1.1bn, down 3.3 percent. Michelin said mining and aircraft tire sales increased during the quarter, while beyond-road activities stabilised despite continued weakness in agricultural original equipment markets.

Polymer Composite Solutions revenue rose 5.1 percent to €326m, supported by the integration of Cooley Group and growth in sealing and coated fabric activities. Michelin said the segment would continue expanding through the integration of Flexitallic in April and the expected consolidation of TexTech later in 2026.

The company said uncertainty linked to the Middle East conflict continued to create risks around global demand, raw material supply and energy costs. Michelin nevertheless maintained its financial outlook for 2026, citing operational resilience, localised production and supply chain integration.

During the quarter, Michelin also completed the acquisitions of Cooley Group and Flexitallic as part of efforts to accelerate the growth of its Polymer Composite Solutions business.

Comments (0)

ADD COMMENT

Link Copied!