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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Hankook Tire has secured a new role as the Official Control Tyre Supplier for the 2026–2027 season of the Australian Production Car Endurance Series (APCES), following a partnership with the Australian Racing Drivers’ Club (ARDC). The APCES is a newly launched endurance championship created by the ARDC and Motorsport Australia, designed to continue the country’s legacy of production car racing. The series will feature production-based vehicles competing across eight performance-based classes, labelled X, A1, A2, B1, B2, C, D and E.

Hankook will exclusively supply its Ventus TD (Z221) R-Spec tyres to all participating teams, working alongside official trackside supplier Gary’s Motorsport Tyres. The control tyre format, which equips every competing vehicle with identical tyre specifications and performance, is intended to provide consistent racing conditions throughout the championship. The semi-slick tyres feature an optimised tread pattern and advanced compound technologies, delivering strong dry grip, stable cornering, excellent braking and superior heat resistance even under prolonged high-speed driving.

The championship will begin its opening round at Sydney Motorsport Park on 30 and 31 May, with additional races scheduled at Sandown International Raceway in August and Queensland Raceway in September. The final round is set for March 2027 at Mount Panorama Circuit in Bathurst, New South Wales, as part of the iconic Bathurst 6 Hour endurance race. The overall series champion will be determined at that concluding event.

Hankook has already built a strong reputation in Australian endurance racing as the official tyre supplier for the Bathurst 6 Hour, and it continues to sponsor other local events including the First Focus Radical Cup Australia Series, the Precision National Sports Sedan Series and the Hyper Racer Hankook Australian Drivers’ Championship. Moving forward, the company plans to strengthen its global premium brand position by using racing data from extreme motorsports conditions, combined with its global innovation R&D infrastructure, to develop ultra-high-performance tyre technologies.

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Bridgestone Corporation has extended its legacy of excellence with General Motors by securing a 2025 Supplier of the Year award, marking the company’s 11th consecutive win and 24th overall. The honour was announced during GM’s 34th annual awards ceremony in Austin, Texas. Out of a vast network exceeding 20,000 suppliers, Bridgestone emerged as one of only 103 companies across 14 countries to receive this distinction.

A global cross-functional team at General Motors determines the winners based on performance across key categories such as safety, innovation and resilience. The evaluation process considered each organisation’s results throughout 2025 alongside their alignment with GM’s fundamental values and ambitious future objectives. This rigorous selection method highlights the importance of consistent execution and shared strategic vision.

The recognition directly supports Bridgestone’s internal E8 Commitment, an ethos built around eight values beginning with the letter E, including Ecology and Extension. By crafting innovative tire solutions for GM, the Japanese company effectively advances its pledges on both ecological responsibility and technological extension. This synergy between corporate values and customer recognition reinforces Bridgestone’s position as a reliable partner.

David Colletti, President of Consumer Original Equipment Tires, North America, Bridgestone Americas Tire Operations, said, “This recognition reflects the strong relationship between Bridgestone and GM. Together, our shared dedication to innovation, quality and performance continues to fuel long-term success.”

Shilpan Amin, Senior Vice President, Global Chief Procurement and Supply Chain Officer, General Motors, said, “Supplier of the Year is one of those key moments our whole team looks forward to every year because it highlights the partnerships behind every vehicle we build. The results our suppliers deliver throughout the entire product development cycle are central to our ability to deliver world-class vehicles to our customers. When our suppliers, such as Bridgestone, lean in with us on new technology and flawless execution, we can move faster, compete harder and unlock more value across the entire supply chain.”

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Tyres Europe has joined a broad alliance of European industry associations urging the European Union to strengthen its trade defence policy. The coalition warns that unfair trade practices, combined with structural overcapacity and state-led market distortions worldwide, are intensifying pressure on local manufacturers. European producers must contend with high energy costs, strict environmental rules and complex regulations, placing them at a clear disadvantage compared to rivals benefiting from less transparent conditions.

The signatories have made clear that they do not seek protection from competition itself, only fairer conditions under which to compete. They argue that a truly global level playing field is essential to protect Europe’s industrial base, sustain competitiveness and allow EU companies to continue investing, producing and preserving jobs within the continent. Without such balance, the long-term viability of key sectors remains at risk.

As an immediate step, the coalition calls on the European Commission to assign more staff to the trade defence units within DG Trade. According to the statement, these services are severely understaffed in absolute numbers and relative to the EU’s main global partners. This shortage undermines Europe’s ability to respond effectively to foreign trade distortions in a timely manner.

Reinforcing DG Trade’s investigative capacity is therefore presented as a crucial short-term priority. Tyres Europe and the other associations contend that targeted staffing increases would significantly enhance the EU’s resilience against global market imbalances. Such a move, they believe, would help safeguard fair competition without erecting unnecessary barriers to international trade.

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Hankook Tire was conferred with the ‘Excellence in Quality and Delivery’ award during Japanese automaker Honda Motor Co., Ltd.’s ‘2025 Supplier Excellence Award’ ceremony, which took place in Columbus, Ohio, this past April.

Honda annually evaluates suppliers across North America based on criteria such as quality, delivery, value and innovation. Out of 56 honourees this year, Hankook Tire stood out due to its systematic quality management, stable supply capabilities and advanced product development competitiveness.

This latest accolade marks Hankook Tire’s fifth recognition from Honda, following previous wins for ‘Excellence in Value’ in 2016 and 2020, and ‘Excellence in Delivery/Value’ in 2018 and 2023. Since establishing a partnership with Honda in 2013, Hankook Tire supplies original equipment tyres for key SUV models including the CR-V, HR-V, Pilot and Passport, as well as global sedans like the Accord and Civic.

Building on this recognition, the tyre manufacturer aims to deepen its collaboration with Honda and expand its presence as a premier global brand in North America. Leveraging its integrated quality and technology system – supported by the Technoplex headquarters, Hankook Technodome R&D center and Hankook Technoring test track – the company continues to serve over 50 global automakers and plans to further enhance its AI-driven quality management through sustained R&D investment.

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