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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Egypt has taken a step towards establishing a USD 500 million tyre manufacturing complex in the Sokhna Industrial Zone, according to Daily News Egypt, following the signing of a letter of intent between the Suez Canal Economic Zone (SCZONE) and China’s Zhongce Rubber Group.

Minister of Investment and Foreign Trade Mohamed Farid and SCZONE Chairperson Mostafa Sheikhoun witnessed the signing, which sets out a framework to study the project’s feasibility and assess its technical and investment requirements.

The proposed development would span about 600,000 sq metres and be implemented in three phases. Around 95 per cent of production, comprising passenger car and truck tyres, would be directed towards export markets.

Farid, as per the report, said the agreement marked “an important step towards exploring the establishment of an integrated industrial project in the tyre sector”, adding that it reflects efforts to attract foreign direct investment, expand production and boost exports.

He said Egypt’s geographical position, infrastructure and logistics capabilities support access to markets in Africa, the Middle East and Europe, strengthening its potential as a regional manufacturing hub.

Sheikhoun said the project aligns with SCZONE’s strategy to attract industrial investment and deepen local manufacturing, adding that the Sokhna Industrial Zone offers logistical advantages and access to global trade routes.

Shen Jinrong, Chairperson and General Manager of Zhongce Rubber Group, said the company plans to implement the project in three phases, with investments of about USD 500 million He added that around 95 percent of production would be exported as the group seeks to expand in regional and international markets.

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Prinx Chengshan is showcasing its core brand portfolio at the 21st China International Tire and Wheel Expo (CITEXPO 2026), which commenced in Shanghai on 2 September. Having evolved over two decades, this annual gathering has solidified its status as a pivotal professional trade fair for the Asia-Pacific tyre and wheel sector. The company’s exhibition presence features its four principal labels: PRINX, Chengshan, Austone and Fortune.

A significant focus of Prinx Chengshan's recent corporate strategy has been the off-the-road tyre segment, where substantial industrial advancements have been achieved. The company has operationalised a green, intelligent manufacturing facility dedicated to OTR production, leading to the successful serial production of giant tyres in 27.00R49, 30.00R51 and 33.00R51 dimensions. The recent addition of a 57-inch model, which completed production in August, has expanded this product matrix and signifies a new developmental phase in speciality tyre engineering.

The company's technological prowess in the OTR field is demonstrated by specific products at the expo, including the ERD47 tyre for rigid dump trucks and the ET36 for wide-body dump trucks. These models serve as tangible evidence of the manufacturer's continuous research and development breakthroughs within this demanding sector.

In the passenger vehicle domain, Prinx Chengshan is presenting its newly launched Austone MEI series, which embodies the brand's philosophy of instilling driving confidence and aesthetic appeal. This series offers three distinct products: the Meizong all-terrain tyre, the Meijie ultra-high-performance tyre and the Meitu high-performance tyre. Also featured is the Prinx Chroma Sprite, which distinguishes itself with coloured sidewalls that challenge conventional tyre aesthetics while incorporating noise-reduction and anti-photo-oxidation technologies for enhanced durability.

Leveraging extensive commercial vehicle expertise, the company has developed proprietary technologies including GPT low rolling resistance, X-CHIP intelligent tyre and ETT wear-resistance for electric trucks. These innovations have established industry benchmarks in the replacement market and facilitated growth in original equipment segments. The Austone AAR608 for long-haul routes and the Fortune FDO307 for mining conditions are on display, showcasing the expanding scope of the company's industrial solutions.

Looking forward, Prinx Chengshan intends to persist with its integrated product and service approach, focusing on the varied requirements of global customers. By enhancing product quality, service delivery and brand equity, the company aims to contribute substantially to the sustainable progress of the worldwide transportation industry through its advanced manufacturing capabilities.

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Triangle Tyre has been appointed as the inaugural Official Tyre Partner of Brentford Football Club following the signing of a new two-year exclusivity agreement in the tyre category. The contract was formalised in London by Brentford Commercial Director Fran James and Triangle Tyre’s Europe General Manager, Corrado Moglia.

The alliance unites two performance-focused entities that share a challenger philosophy, having each ascended in their fields through strategic intelligence and operational efficiency. Brentford’s renowned data-driven methodologies are complemented by Triangle Tyre’s dedication to engineering research and product advancement, creating a synergy between on-pitch analytics and industrial innovation.

As part of the arrangement, Stapleton’s Tyre Services, the largest UK distributor of passenger car tyres, has been designated as the Local Delivery Partner to facilitate the activation of commercial rights domestically. Brentford’s international visibility is expected to elevate Triangle Tyre’s global brand presence, while the club will also coordinate targeted promotional efforts within London and the broader United Kingdom.

Sustainability forms a core pillar of the collaboration, providing a platform to highlight Triangle Tyre’s environmental commitments and technological developments alongside community initiatives nationwide. The tyre manufacturer will benefit from matchday branding at the Gtech Community Stadium, player and ambassador content opportunities and exclusive hospitality access during home fixtures.

Fran Jones, Commercial Director, Brentford, said, "It's very exciting to welcome another challenger brand like Triangle to our partnership family. When you share that mindset, the understanding of what the partnership can achieve is clear from the start. Triangle's innovation and sustainable commitments really impressed us too, so I have full faith that this is the beginning of a strong, impactful relationship."

Corrado Moglia, General Manager – Europe, Triangle Tyre, said, “We are extremely pleased to begin this partnership with Brentford Football Club. Brentford is a club with a strong identity, an ambitious approach and a reputation for competing successfully through intelligence, organisation and determination. Triangle and Brentford share a challenger mindset and believe that data, technology and efficiency can deliver outstanding results. This partnership is an important step in strengthening Triangle’s brand visibility across Europe while providing a powerful global platform to communicate our innovation, sustainability and corporate responsibility.”

Andy Fern, Managing Director, Stapleton’s Tyre Services, said, “We are delighted to support this exciting partnership. As the UK’s largest tyre distribution business, we have worked with Triangle for many years to bring its passenger car tyres to market, and have seen first-hand the brand’s commitment to innovation, quality and sustainable development. Brentford’s progressive approach and strong community connection make them an excellent partner. We look forward to bringing the partnership to life and creating meaningful opportunities to engage our customers, and, ultimately, drivers across the country.”

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Michelin has secured a landmark contract extension with the Fédération Internationale de l’Automobile (FIA) and the Automobile Club de l’Ouest, cementing its role as the exclusive tyre supplier for the Hypercar class in the FIA World Endurance Championship. The renewed agreement, which emerged from a formal tender process, will now remain in effect through the conclusion of the 2032 season, adding three additional years to the existing deal that was originally set to expire in 2029.

The French tyre manufacturer has maintained an uninterrupted presence in elite endurance racing since 1998 and was instrumental in the championship’s revival in 2012. Currently, Michelin supplies every competitor within the Hypercar field, a category that showcases premier global automotive brands. Within this highly competitive environment, tyre performance directly influences speed, strategic decision-making, safety protocols and overall ecological footprint.

Endurance racing continues to function as a critical testing ground for Michelin’s technological advancements, with extreme track conditions, varied weather and sustained high-speed loads driving rapid innovation. These rigorous demands facilitate the transfer of cutting-edge developments to everyday road tyres. Furthermore, the company has leveraged motorsport to advance sustainable mobility, as evidenced by the new 2026 MICHELIN Pilot Sport Endurance range, whose slick compounds now feature 50 percent renewable and recycled materials.

This extended partnership ensures Michelin will maintain its development platform alongside the FIA, the ACO and all Hypercar manufacturers. The collaboration underscores racing’s capacity to produce tangible, resource-conscious solutions that uphold performance standards while addressing environmental considerations across the entire tire lifecycle.

Matthieu Bonardel, Director, Michelin Motorsport, said, “We are particularly proud of the renewed confidence shown in Michelin by the Fédération Internationale de l’Automobile and the Automobile Club de l’Ouest. I would like to sincerely thank both organisations for the quality of our discussions throughout this tender process. This contract extension is a strong recognition of the quality of the tyres and services we provide, as well as our ability to continuously innovate. It is also excellent news for our teams and for all our manufacturer partners, with whom we share the same ambition: to push the boundaries of performance while accelerating the transition towards increasingly sustainable mobility.”

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