GRP, an Indian rubber recycling company, reported a 20 percent year-over-year revenue growth for both Q3 and the first nine months of FY25, despite facing margin pressures from elevated raw material costs.

The company recorded total income of INR 1,327 million in Q3 FY25, with EBITDA margins holding steady at 9.8 percent. For the nine-month period, revenue reached INR 3,912 million, while EBITDA stood at INR 363 million.

"We achieved a 12 percent increase in volumes on a standalone basis, with Reclaim Rubber volumes growing nine percent despite subdued global tyre demand," said Harsh Gandhi, Managing Director of GRP Limited.

The company recognized INR 121 million in Extended Producer Responsibility (EPR) credits year-to-date, with an additional INR 180 million worth of credits valued at minimum support price still available for sale.

Expansion Plans

GRP is moving forward with its INR 2.5 billion expansion plan, having secured financing from French development finance institution Proparco. The company has also received shareholder approval to raise an additional INR 1.5 billion through a qualified institutional placement.

"We remain on track to commence operations for the first line of crumb rubber and continuous pyrolysis line by Q4 of this financial year," Gandhi stated, noting that INR 330 million has already been invested in the project.

Industry Developments

The expansion comes as major carbon black producers like Birla Carbon, Epsilon Carbon, and Phillips Carbon Black launch recovered carbon black products using tyre pyrolysis oil (TPO).

"With carbon black producers now actively sourcing TPO to produce their own grades of recovered carbon black, it allows us a new avenue for sale, which was maybe 6 to 8 months ago, was non-existent," Gandhi explained.

Future Outlook

The company expects margins to stabilize following recent raw material cost pressures, particularly in its synthetic rubber reclaim business. GRP's subsidiary focused on recycled polyolefins is gaining approvals from major brands ahead of new recycling regulations taking effect from April 2025.

"Once we do get into this business, there are a lot of synergies between the two businesses, and that will allow for the overall margin profile of the business to move towards mid-teens and even a little higher towards the high-teen EBITDA numbers for a consolidated level," Gandhi added.

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Tyres Europe has released its latest quarterly market update, prepared by the independent intelligence firm Astutus Research, which tracks tyre industry trends, mobility patterns and recovery and recycling efforts. The report provides fresh data on import shifts and used tyre generation across the EU27 plus United Kingdom.

Passenger car and light truck tyre imports into the region dropped by nearly 22 percent in January and February of 2026, a sharp reversal from the 26 percent increase seen in the first quarter of 2025. The total volume fell by 5.6 million units, driven largely by an 8.7-million-unit decline in Chinese shipments, which cut China’s market share from 74 to 52 percent. An ongoing European Union anti‑dumping investigation, with the potential for backdated duties, had encouraged heavy pre‑buying of Chinese tyres in 2025, peaking that September before accelerating into 2026. In response, ASEAN‑origin tyres, many from Chinese‑owned factories, tripled their share to 21 percent, led by Thailand and Vietnam, while Cambodia added nearly half a million units from a near‑zero base.

Truck and bus tyre imports from non‑European markets rose 24 percent over the same period. Thailand and Vietnam together increased shipments by 39 percent, lifting their combined share above 63 percent. Meanwhile, China’s position weakened as its volumes stagnated, and India emerged as the fourth largest source with a share exceeding five percent, pushing Egypt to fifth place ahead of Korea.

On sustainability, preliminary estimates from Astutus Research indicate that Europe generated approximately 4.4 million tonnes of used tyres in 2025, a figure essentially unchanged from the previous year. This overall stability hides divergent regional trends, with faster growth in Southern European markets such as Spain, Portugal and Greece, while larger Northern markets including the United Kingdom, Germany and France showed little or no increase. Replacement tyres account for more than 90 percent of used tyre tonnage, with the remainder coming from end‑of‑life vehicles.

Of the 4.4 million tonnes generated, around 0.6 million tonnes were reused as part‑worn tyres or retreaded. The term used tyres refers to all tyres removed from vehicles, while end‑of‑life tyres exclude those reused or retreaded. A decline in retreading has increased the share classified as end‑of‑life tyres, adding to volumes that require recovery or recycling.

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Maxxis’ automotive division has earned the Excellence in Quality and Delivery Award from Honda for 2025. This recognition was presented during a ceremony held on 22 April in Columbus, Ohio, where Honda honoured 37 suppliers out of a total pool of more than 700 mass production parts providers across North America.

Maxxis supplies spare tyres for several Honda and Acura models, including the Honda Accord and Acura Integra assembled at Honda’s Maryville plant, as well as the Honda Civic Si produced at the Honda of Canada facility in Alliston, Ontario. The award highlights Maxxis’ consistent performance in meeting stringent quality standards and delivery schedules, reinforcing the division’s role as a trusted partner within Honda’s North American production network.

Andy Lee, Maxxis International – USA President, said, “On behalf of everyone at Maxxis, I want to thank Honda for this tremendous honour. We’re very pleased to have met their high standards for excellence. All of us at Maxxis are very grateful for this recognition and are equally grateful for our partnership with Honda. I also want to thank our automotive OE division for their hard work and dedication, which made this award possible.”

Paul Dentinger, Senior Vice President of the Purchasing & Supply Chain Center at Honda Development & Manufacturing of America, LLC, said, “As we focus our automobile business on maximising hybrid and gas-powered models, Honda continues to invest in our North American supplier network, collaborating with our supplier partners to turn innovative technology into value for our customers. In this rapidly changing business environment, we must work closely with our suppliers to find new ways to improve cost competitiveness, speed up development time and enhance product appeal that ensures Honda is the brand of choice for customers. Congratulations to all of our award-winning service parts and mass production suppliers who earned this distinguished honour.”

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German chemical group Wacker is moving forward aggressively with its PACE programme, a global initiative to cut costs and improve efficiency that was launched in October 2025. The overarching goal is to permanently secure the company’s competitive standing by slashing annual expenses by more than EUR 300 million, a target that has already been announced alongside plans for worldwide workforce reductions.

A key development in Germany involves a new agreement between management and employee representatives to handle the planned loss of roughly 1,600 jobs through socially responsible means. Instead of forced dismissals, the company will rely on voluntary measures such as attractive phased early retirement and severance packages. To create the financial breathing room for this approach, all German employees will accept a temporary solidarity contribution until 2028, taking the form of a four percent cut to both their hours and pay. All structural changes under the PACE umbrella are expected to be finalised by the end of 2027.

The distribution of job reductions will see the heaviest impact at the Burghausen site, Wacker’s largest globally, where 1,300 positions will be eliminated. The Nünchritz facility will lose 200 jobs, the Munich headquarters will reduce its headcount by 60 and a collective 50 positions will be cut from other Wacker locations across Germany. The implementation plan, which includes consolidating production facilities, adjusting shift system flexibility and shifting roles to international service hubs, has been fully agreed upon by both employer and employee representatives.

Christian Hartel, CEO, WACKER, said, "With the agreement we have now concluded, we have reached an important milestone in driving forward the necessary transformation in Germany and strengthening our competitiveness. We have already implemented numerous measures at our international sites that make us more flexible, more efficient and faster. Now, the implementation phase will start in Germany as well.”

Angela Wörl, Personnel Director, WACKER, said, "Together with the employee representatives, we have come up with good solutions to implement the necessary structural measures in Germany not only quickly, but, above all, in a socially responsible manner. This will strengthen the position of our German sites in the face of international competition and lay the foundation for future profitable growth."

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Bridgestone Taiwan Co., Ltd. (Bridgestone) has completed a major business transformation, having ceased manufacturing operations at its Hsinchu plant on 11 May 2026 and concluded all related production activities. The decision was based on adjustments to its global operational strategy and long-term market development considerations. Under this plan, Bridgestone continues to deepen its presence in the Taiwan market, having transitioned into a sales and service-focused business model.

The company, which has operated in Taiwan since 1982, stated that the Hsinchu facility has played a key role in supporting the Bridgestone Group’s operations and product supply over the years, building a solid foundation for the brand locally. Bridgestone pledged to follow local regulations in providing affected employees with comprehensive support, including career transition services and other assistance measures.

Going forward, Bridgestone will strengthen its sales and service capabilities by enhancing channel development, refining sales systems and deepening collaboration with local distributors. The company also plans to broaden its product portfolio to meet diverse market demands and improve overall service levels. Guided by its mission of serving society with superior quality, Bridgestone aims to leverage its global manufacturing network to ensure stable supply and greater product competitiveness in Taiwan.

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