Bridgestone is planning to cut jobs at two factories in northern Spain in response to a negative shift in the European market and the growth of non-European goods.

According to a Reuters report quoting local union UGT, the business intends to lay off 546 workers at two plants in Cantabria and the Basque Country in northern Spain that produce tyres for tractors, other farm vehicles, buses and trucks. The report adds that UGT and other unions have declared their intention to call for a strike at the two facilities, but they have not given any specifics.

The company's local unit, Bridgestone Hispania, employs 2,800 people at the moment, according to UGT. Bridgestone stated that it has to modify its production capacity in light of the current market conditions, which are marked by inflation, uncertainty and regulatory changes, says the report.

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The Rubber Board organised a mass run in Kottayam town on Monday, bringing together its employees, their families, and college students as part of a nationwide fitness campaign now in its sixth year.

The Fit India Freedom Run 6.0 drew participants from Baselius College and CMS College alongside Rubber Board staff, forming part of a month-long initiative running from  2-31 October across India.

Launched in 2020 by the Ministry of Youth Affairs and Sports, the Fit India Freedom Run was conceived to commemorate two significant dates in India’s calendar—Independence Day on 15 August and Gandhi Jayanti on 2 October. The programme seeks to promote walking and running as accessible routes to improved health and physical fitness amongst the general population.

This year’s edition has adopted the theme of “Swachhata and Swasthiya” (Cleanliness and Health), reflecting the government’s emphasis on hygiene as a cornerstone of healthy living. The dual focus aligns with broader public health messaging that connects environmental cleanliness with individual well-being.

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JK Tyre achieved record revenue of INR 40.26 billion, driven by strong domestic demand and a strategic shift in export markets.

JK Tyre & Industries reported its highest-ever quarterly results, with consolidated revenue of INR 40.26 billion in Q2 FY2026. This performance was supported by double-digit volume growth in key segments and enhanced operational efficiency.

Profit after tax rose 54 per ent year-on-year to INR 2.23 billion, and EBITDA margins increased to 13.3 percent. This marks a significant turnaround for India’s tyre sector, which has faced volatile raw material costs and uncertain export conditions in recent quarters.

Domestic Market Powers Growth

Domestic volumes increased 15 percent, led by a 22 percent rise in truck and bus radial (TBR) tyre replacements. Passenger vehicle tyre replacements grew 16 percent, while the two- and three-wheeler segment saw exceptional growth of 155 percent.

“The demand has been very good. In fact, the demand is touching double-digit,” said Anshuman Singhania, Managing Director of JK Tyre, in a media roundtable. “We are seeing long hauls coming in because of better infrastructure. So demand is pretty good, and demand is going to be in a very steady trajectory going forward.”

The company attributed strong domestic results to GST rationalisation, improved monsoons supporting rural demand, and increased government infrastructure spending. Management also noted that dealer inventories have normalised, offering better visibility into true demand.

Strategic Export Pivot Pays Off

Despite uncertainty regarding US tariffs, JK Tyre increased export volumes by 13 percent quarter-on-quarter. The company has diversified its exports, with North America now accounting for only 3 percent of total revenue.

“We have diverted most of our exports from the US to other markets,” Singhania explained. The company has strengthened its presence in the Middle East, Europe, Latin America, and Brazil, whilst continuing to serve the US market through its Mexican manufacturing facility.

JK Tornel, the Mexico subsidiary, reported a 26 percent sequential increase in turnover to INR 6.39 billion, up from INR 5.05 billion in the previous quarter.

Premiumisation Strategy Takes Hold

JK Tyre’s focus on premium segments has driven margin improvement. Tyres with rim sizes of 16 inches and above now account for 27 percent of the passenger vehicle mix, up from 18 percent in FY2018.

This strategy aligns with market trends, as sport utility vehicles now make up about 65 per cent of India’s passenger vehicle market, requiring larger, higher-margin tyres. JK Tyre has expanded its premium range, including the Levitas brand and products like Puncture Guard, which have gained acceptance among OEMs and in the aftermarket.

“Our premium products like Levitas, innovative products like Puncture Guard have really got the fancy of our channel partners as well as some of the OEMs,” Singhania said. The company recently supplied 18-inch tyres for Hyundai’s Creta Night Edition, marking its deepening engagement with premium OEM specifications.

Sanjeeva Garwal, Chief Financial Officer, emphasised that the company is not abandoning value segments entirely. “We are not leaving the space in the non-premium segment, which is continuing because we have the capacity,” he noted, adding that new capacity expansions are specifically dedicated to premium and larger rim size tyres.

Capacity Expansion on Track

JK Tyre is investing INR 14 billion to expand capacity. New passenger car radial capacity will be fully operational by July 2026, with additional truck radial capacity set to begin in the fourth quarter of this fiscal year.

Radial tyre production is operating at over 90 percent capacity, and overall utilisation is 87 percent, indicating limited room for growth without expansion. Management is closely monitoring the market for potential future capacity additions.

The company manufactures tyres up to 22 inches in Mexico and 20 inches in India, positioning itself to meet increasing demand for larger sizes as vehicle premiumisation advances.

Raw Material Tailwinds Continue

Improved profitability has been supported by favourable raw material costs, which have declined from Q4 FY2025 through Q2 FY2026. Management expects this trend to continue for the rest of the year.

The company passed on the full benefit of GST rationalisation to consumers whilst maintaining pricing discipline. “Right now, in the second quarter, we have not increased any prices, and going forward, we are always assessing the competitive market because it is a dynamic market,” Singhania said.

Outlook and Guidance

JK Tyre expects to maintain double-digit volume growth for the year, even as the auto and tyre industries are projected to grow 6-7 percent. The company anticipates low single-digit growth in truck tyres, mid single-digit growth in truck radials, and mid-to-high single-digit growth in passenger car radials.

Management described the outlook for the second half as very positive, citing ongoing infrastructure investment, recovering rural demand, and normalised inventory levels across distribution channels.

While JK Tyre remains focused on four-wheeled applications, Singhania noted that the defence sector, which includes tyres for trucks, passenger vehicles, and armoured vehicles, accounts for a high single-digit share of revenue and offers growth potential as India’s defence procurement increasingly favours domestic suppliers.

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ContiTech, a group sector of Continental AG, has been distinguished with two significant supplier awards in the Chilean mining industry. The company was named the Best Conveyor Belt Supplier for the third time in a row and, in a new achievement, was also recognised as the Best Supplier of Belt Cleaners.

These accolades are based on Phibrand's independent 2025 survey, a highly respected benchmark in the sector. The extensive research involved interviews with approximately 400 users from nearly 60 mining companies. The evaluation criteria included essential factors like quality and performance, with sustainability newly added as a critical category. The honours were conferred during a special ceremony by Carlos Hunt, Regional Ministerial Secretary (Seremi) of the Chilean government, and Antiza Vladilo from Corporación Alta Ley, underscoring the award's significance.

Andreas Gerstenberger, CEO of ContiTech USA and Head of Industrial Solutions Americas business area, said, “Being recognised for the third time in a row as the best conveyor belt supplier and, for the first time, as best supplier of belt cleaners in Chile is a testament to our team’s unwavering commitment to excellence. These awards reinforce our dedication to supporting Chile’s mining industry with reliable, high-performance and sustainable solutions that keep operations moving efficiently and safely.”

Thomas Lau, Head of Plant Management at ContiTech Industrial Solutions Americas in Santiago, Chile, said, “These awards belong to our people. They reflect the daily effort of every team member to deliver not only top-quality products but also the technical support and service flexibility that our customers rely on. We are especially proud that sustainability has been highlighted as a key criterion this year... it’s an area where we continue to innovate and lead.”

Sven Hlywiak, Vice President – Customer Engineered Solutions, ContiTech Industrial Solutions Americas, said, “At ContiTech, we believe that engineered solutions must go beyond product performance; they must integrate seamlessly with each customer’s operational goals. This recognition demonstrates that our customer-centric and collaborative approach together with our deep technical expertise are making a tangible difference in the success and growth of Chile’s mining operations.”

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In a significant expansion of its global retail footprint, NEXEN TIRE has inaugurated its first dedicated brand shops in Bahrain and Kuwait. This strategic move underscores the company's focused effort to grow within key emerging markets, including the Middle East, South America and Southeast Asia. The Middle East is particularly vital, representing the company's third-largest overseas market, a position cultivated since establishing its Dubai branch in 2009.

The expansion is driven by a ‘shop branding’ strategy, which involves collaborating with local partners to apply a consistent and recognisable brand identity to tire stores. This approach ensures a uniform customer experience through standardised purple signage, interior design and displays, thereby strengthening brand recognition and loyalty in a cost-effective manner. This flexible model allows NEXEN TIRE to create tailored, immersive brand environments that adapt to the specific needs of each local market while maintaining a cohesive global image.

The company's global branding initiative has seen remarkable progress. In 2025 alone, NEXEN TIRE introduced its brand identity to more than 130 stores worldwide. This builds upon a substantial foundation of approximately 400 stores that have been similarly branded over the preceding four years. This rapid growth has been evident across diverse regions. In Europe, the brand's presence was solidified in major cities including Frankfurt, Milan, Lyon and London. Simultaneously, a significant rollout occurred in Turkey, with 50 local stores in metropolitan hubs like Istanbul and Ankara adopting the new identity.

Beyond established markets, NEXEN TIRE is making substantial inroads in high-potential emerging economies. Recent efforts have resulted in 12 branded stores across the Middle East and North Africa, 16 in South American nations such as Brazil and Argentina and 13 throughout Southeast Asia, including Malaysia and Thailand. Through these partnerships with local distributors, NEXEN TIRE is systematically enhancing its international profile and market penetration.

John Bosco (Hyeon Suk) Kim, CEO, NEXEN TIRE, said, “Our shop branding project serves as a strategic foundation for enhancing brand value in developed markets while unlocking growth potential in emerging economies. Moving forward, we will continue to strengthen localised, customised marketing and build global partnerships, expanding customer touchpoints to further solidify our position in the global market.”

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