Gravita India Limited, a leading recycling company having global presence, has announced that its step-down subsidiary Gravita Netherlands BV (GNBV) has signed a memorandum of understanding (MOU) to acquire a waste tyre recycling plant in Romania.

Having a capacity of around17,000 MTPA, this will be Gravita’s first recycling facility in Europe. It already has a global presence with 12 eco-conscious state-of-the-art manufacturing facilities in Asia and Africa with a capacity of more than 300,000 MTPA in multiple scrap recycling verticals.

The acquisition will be carried out by creating a separate SPV in Romania, wherein GNBV will own 80 percent of the stock and have management authority. Other Romanian-based partners would retain the remaining shares. In addition, GNBV will contribute around INR 320 million to the transaction, with a total investment of approximately INR 400 million, subject to in-depth financial, environmental and legal due diligence.

In order to spur growth, GNBV also plans to extend its recycling business activities throughout the European market. To do this, it will take advantage of fresh market opportunities and form important alliances. Through this acquisition, the business will become more visible, attract more clients and fortify its competitive advantage in the European market. Similar rubber recycling facilities are already operated by the corporation in Ghana, Senegal, Togo and Tanzania. This is consistent with the company's expansion strategy and diversification ambition of expanding its recycling business across multiple geographies.

Comments (0)

ADD COMMENT

Link Copied!

Prometeon Tyre Group has published its 2025 Sustainability Report, reinforcing the company’s commitment to environmental, social, governance and economic priorities. The document illustrates how sustainability considerations are now embedded within operational frameworks and strategic planning across the global tyre manufacturer’s industrial, agricultural and off-the-road segments.

The report highlights notable energy achievements, with renewable and high-efficiency sources accounting for 51.5 percent of total consumption. Certified green electricity and biomass represented 31.3 percent, while combined heat and power systems contributed 20.2 percent. For electricity specifically, the renewable share reached 47.5 percent, with the Milan headquarters and Cinisello Balsamo R&D centre fully powered by certified green energy and a new 116 kWp photovoltaic installation.

The Gravataí plant in Brazil maintained carbon neutrality for Scope 1 and 2 emissions through renewable certificates and a biomass boiler for process steam. Overall energy intensity per finished tonne dropped 14.7 percent since 2016, supporting the company’s ambition to achieve climate neutrality by 2040, in line with the Science Based Targets initiative’s 1.5°C pathway, despite a challenging international policy environment.

Material circularity also advanced, with recycled content reaching approximately seven percent, driven by increased recycled steel, rice husk ash-derived silica and pyrolysis oil-based carbon black. From January 2025, Turkish-produced Coach C02 tyres incorporate 23 percent ISCC+ certified materials via mass balance. The Group also earned a B score for Climate Change and B- for Water Security from CDP, placing it at the Management level for structured environmental governance.

Supply chain oversight intensified with 21 supplier audits covering 18 percent of annual raw material expenditure, assessing labour standards, safety and association rights, while cumulative coverage since 2021 reached 99 percent. Prepared under Global Reporting Initiative standards, the report underscores Prometeon’s systematic approach to measuring and communicating its economic, environmental and social impacts.

Nicolas Marchi, Chief of Internal Audit, Compliance, Sustainability & Institutional Relations Officer, Prometeon, said, “The 2025 Sustainability Report confirms Prometeon’s ability to translate its ESG objectives into tangible and measurable results. The increase in the share of energy from renewable and high-efficiency sources, the growth in the use of recycled materials and the recognition achieved through the CDP assessment demonstrate the soundness of the strategy we are implementing. In a rapidly evolving global scenario, we continue to view sustainability as a key driver of competitiveness, innovation and attractiveness. For this reason, we remain firmly committed to our journey towards net zero by 2040, engaging the entire value chain and further strengthening our commitment to people, customers, partners and the communities in which we operate.”

Comments (0)

ADD COMMENT

Link Copied!

Prinx Chengshan has successfully concluded its inaugural Latin American distributor brand promotion conference, which drew participants from key markets including Peru, Brazil and Mexico. The event, organised under the theme ‘GROW TOGETHER, WIN TOGETHER’, underscored the manufacturer’s strategic commitment to fortifying its commercial ties and operational presence across the region.

Deputy Director Zhu Deqiang of the Asia-Africa-Latin America Sales Centre offered an extensive overview of the company’s global operations and manufacturing capabilities. His presentation was specifically tailored to address the varied road conditions, diverse vehicular applications and specific consumer preferences found throughout Latin America, with a particular focus on the company’s flagship commercial and passenger tyre ranges. This strategic communication effectively enhanced regional partners’ comprehension of the brand’s technical evolution and historical legacy.

Distributor representatives Rodrigo and Marcelo, handling the Chengshan and Prinx brands in Brazil, respectively, provided valuable frontline insights into channel development, promotional tactics and commercial performance. Their contributions served to illustrate the tangible market traction and upward trajectory of Prinx Chengshan’s product portfolio within the competitive Latin American environment. The conference agenda also included visits to local retail outlets, allowing attendees to observe the brand’s in-store presence firsthand while fostering stronger relational bonds through informal cultural exchange.

With a current commercial presence spanning more than 20 Latin American nations, Prinx Chengshan is leveraging this milestone event to propel its regional expansion strategy forward. Marking the commencement of its 50th anniversary year, the conference represents both a decisive move to consolidate its Latin American foothold and a critical component of its broader global aspirations. The company intends to continue adapting its tyre technology and after-sales support infrastructure to meet evolving local demands, aiming to drive sustained growth throughout the region.

Comments (0)

ADD COMMENT

Link Copied!

Citira, a Sweden-based company specialising in circular tyre management, has announced the acquisition of Lidingö Bilcenter, a well-established service point located on the island of Lidingö east of Stockholm. The transaction represents a strategic move to broaden Citira’s service network across the Stockholm metropolitan area, incorporating another essential facility into its growing portfolio.

Originally founded in 1995, Lidingö Bilcenter has cultivated a durable reputation within the local community over several decades. Since assuming ownership in 2016, Niclas Lind has reinforced the business’s standing through attentive, personalised service, ensuring consistent customer loyalty. Its advantageous position in one of Stockholm’s suburbs makes it a critical hub for passenger car maintenance in the region.

Under the new arrangement, the workshop will retain its existing personnel and operate from its current location while gaining access to Citira’s broader resources and logistical network to facilitate future expansion. Furthermore, Lind will assume a co-ownership role within Citira, solidifying the partnership beyond the initial transaction.

Urban Tibbelin, Head of Sweden at Citira, said, "We are thrilled to have Niclas and his team on board. They have built something with real staying power on Lidingö, with the kind of customer loyalty that is hard to earn. We look forward to having their quality service now come to the benefit of our customers and to supporting the continued development of the business on Lidingö.”

Niclas Lind of Lidingö Bilcenter said, "Joining Citira is the right next step for the business. Becoming part of a strong group means we can further strengthen both our service and product range, without changing what our customers value most. You will still meet the same team, in the same place, with the same commitment to quality, now with the added strength and support of Citira behind us. We look forward to this new journey together.”

Comments (0)

ADD COMMENT

Link Copied!

China's Zenith Group has formalised an agreement with the Egyptian Government to establish a manufacturing facility for automotive tyre components within the Sokhna Industrial Zone, a key part of the Suez Canal Economic Zone (SCZone). The project represents an investment of USD 300 million and is set to occupy a 320,000-square-metre site inside the TEDA Egypt industrial development area, reports Forbes Middle East.

Egyptian Prime Minister Mostafa Madbouly attended the signing ceremony, highlighting the initiative as a cornerstone of the state's broader strategy to bolster local manufacturing and draw advanced industrial investment. The new plant is projected to produce 120,000 metric tonnes of steel cord and 50,000 metric tonnes of bead wire annually while generating around 1,000 direct employment opportunities for the local workforce.

SCZone Chairman Walid Gamal El-Dien emphasised that the project aligns with the authority's objectives to attract heavy industries and enhance high-value manufacturing. The facility is expected to deepen industrial integration with existing tire producers in the zone, fostering a comprehensive production chain. By localising the production of essential steel wire, the project aims to diminish import reliance and strengthen supply chain resilience for Egypt's automotive and rubber sectors.

Significantly, approximately 30 percent of the plant's output is earmarked for export to the Middle East, Europe and the Americas. This development is part of a larger investment surge within the SCZone, which encompasses over 461 square kilometres. During the first quarter of the 2025-26 fiscal year, the zone attracted 80 new ventures worth more than USD 5.1 billion, surpassing the total from the entire previous fiscal year and underscoring the region's growing industrial momentum.

Comments (0)

ADD COMMENT

Link Copied!