Kolkata-headquartered Himadri Speciality Chemical has announced its financial results for Q3 FY2025 with revenue of INR 11.32 billion, up 7.5 percent YoY, as against INR 10.53 billion for the same period a year ago. The EBITDA came at INR 2.2 billion, as against INR 1.69 billion, and net profit grew by 31.48 percent at INR 1.42 billion as against INR 1.08 billion for the same period last year.

Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical, said, “We are excited to share our Q3 and 9M FY25 results, which showcase a strong and sustainable performance across all key financial and operational metrics. We achieved our highest-ever quarterly EBITDA of INR 2.22 billion in December quarter. For the 9M period, our sales volumes grew by 24 percent, reaching 415,679 MT, up from 335,265 MT in the same period last year. This growth was reflected in a 34 percent increase in EBITDA to INR 6.11 billion, and a 35 percent rise in PAT to INR 4.0 billion, further solidifying our upward trajectory. Our balance sheet continues to reflect our financial discipline and resilience, with a net positive cash balance of INR 1.09 billion. This positions us well to capitalise on strategic opportunities and drive long-term value creation.”

“I am pleased to inform you all that Himadri Speciality Chemical has recently been awarded with EcoVadis Platinum medal. This recognition is awarded to the top 1 percent of companies assessed by EcoVadis in the world amongst more than 130,000 assessed companies globally. This distinction reflects the quality of the company's sustainability management system and demonstrates the highest level of corporate governance and a commitment to promoting transparency throughout the value chain. Himadri has reported robust performance across its portfolio of products. Our export portfolio is strengthening, particularly bolstered by the commencement of our high-temperature Liquid Coal Tar Pitch export terminal at Haldia Port in October 2024,” he added.

Furthermore Choudhary announced that the company had earmarked INR 1.2 billion towards expanding its presence in high-value products – including Anthraquinone, Carbazole, Fluorene – from its existing coal tar distillates. The expansion is expected to be completed within the next 18 months.

Furthermore, it sees the booming electric vehicle industry in India to provide new growth impetus. Himadri Speciality Chemical expects the demand for lithium-ion battery, in the cathode active material space, LFP continue to be the leading technology, with graphite anodes dominating the anode technology. The company shared that it has been progressing well on development of these technologies and its LFP cathode project is moving forward as planned.

It is also on track to commence operations and enter the tyre space on the back of its acquisition of Birla Tyres. The commercial production is expected to start soon with ramping up of production being planned over the next two to three years.

Adding to that it is also enhancing carbon black production from its Singur facility from the existing 180,000 MTPA to 250,000 MTPA by Q3 FY2026. This also will see it scaling up its specialty carbon black capacity to more than double at 130,000 MTPA from the present 60,000 MTPA. 

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Apollo Tyres’ Chennai Plant has formalised a multi-institutional partnership through a Memorandum of Understanding (MoU) with five esteemed engineering colleges from Kerala, Odisha and Tamil Nadu. This strategic alliance is designed to fortify the nexus between industry and academia, with a focused objective of developing a robust, industry-ready talent pool to meet future sector demands. The collaboration represents a significant investment in the human capital pipeline, directly linking academic output with corporate needs.

The collaborating institutions in this forward-looking initiative are SASTRA University, SRM TRP Engineering College, JJ College Of Engineering & Technology, Ma'din Academy and Nilachal Polytechnic. The partnership’s framework encompasses a comprehensive suite of initiatives aimed at mutual development. For students, it provides a structured pathway to employment, including placement assurances during their final year and enhanced campus hiring opportunities. To bridge theoretical knowledge with practical application, the programme will facilitate organised industry visits to Apollo’s manufacturing facility, offering students firsthand exposure to modern production processes. Complementing this, a series of expert-led sessions, technical lectures and seminars will be delivered by in-house professionals from Apollo Tyres, ensuring the curriculum remains aligned with evolving industry practices.

This symbiotic engagement yields significant strategic benefits for all stakeholders. Students gain invaluable industry awareness and confidence, while academic institutions enhance their curriculum's practical relevance. For Apollo Tyres, the initiative enables the early identification and nurturing of prospective talent, effectively streamlining recruitment and fostering a positive perception of manufacturing careers.

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German chemicals group Wacker Chemie lowered its full-year outlook after third-quarter profit fell by nearly a quarter, hit by weak demand and intense competition from China.

The Munich-based company, which makes silicones and polysilicon for semiconductors and solar panels, reported earnings before interest, tax, depreciation and amortisation (EBITDA) of 112 million euros ($121.6 million) for the July-September period, down 23 percent from 145 million euros a year earlier.

Sales fell 6 percent to 1.34 billion euros from 1.43 billion euros, weighed down by lower prices and unfavourable currency effects.

The results were broadly in line with analyst expectations, which had forecast sales of 1.37 billion euros and EBITDA of 101 million euros, according to Vara Research.

Wacker swung to an operating loss of 20 million euros in the quarter, from a profit of 30 million euros a year ago, whilst net income turned negative to 82 million euros, compared with a profit of 34 million euros.

“The chemical industry is under pressure – worldwide, but in Europe in particular. The economic situation is tense, and market demand is weak. At the same time, the market environment is changing, and competitive pressure is high – especially from China. And this is something that we are experiencing at WACKER as well,” Chief Executive Christian Hartel said.

“Like many other companies, we had to lower our full-year forecast in the middle of this year. Even though we closed Q3 in line with market expectations, sales and earnings were again down year on year in almost all business divisions,” he said.

Wacker launched a comprehensive cost-cutting programme in October aimed at achieving significant savings in production and administration, with implementation planned to begin in the first quarter of 2026.

The company now expects full-year sales at the lower end of its previously forecast range of 5.5 billion to 5.9 billion euros, with EBITDA in the lower half of its 500 million to 700 million euro range. It also anticipates a negative net result for the year, significantly below the previous year.

The company’s silicones division, its most significant business, saw sales decline 7 percent to 673 million euros, whilst EBITDA fell 19 percent to 86 million euros. The polysilicon unit, which serves both solar and semiconductor markets, reported a 40 percent drop in EBITDA to 18 million euros, as low prices and exchange-rate effects offset strong hyperpure polysilicon performance in semiconductors.

Wacker’s workforce declined to 16,616 employees at the end of September from 16,724 three months earlier.

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Finnish tyre manufacturer Nokian Tyres said it would cut 80 permanent positions and temporarily lay off about 650 workers as part of measures to improve financial performance and operational efficiency.

The company has begun personnel negotiations affecting roughly 1,700 permanent white-collar positions across its global operations, including group functions and all business units.

The temporary layoffs will affect blue-collar and white-collar staff at passenger car and heavy tyre production facilities in Nokia, Finland, for up to 90 days per person. These measures could be implemented by the end of 2026.

The permanent job cuts, targeting white-collar roles, may take effect by late 2025, the company said.

Nokian Tyres employed approximately 4,400 people worldwide at the end of September, with 2,045 staff based in Finland.

The negotiations will commence immediately in line with local labour legislation in each country where the company operates.

The announcement comes as tyre manufacturers face pressure from volatile raw material costs and shifting demand patterns in key markets.

Nokian Tyres, known for its winter tyres and premium products, has been restructuring its operations following geopolitical challenges that affected its Russian production and sales.

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Capitalising on a period of significant growth, Nexen Tire is strategically introducing two new passenger tyres, the N’Priz S and the N’Fera Sport, through a comprehensive two-stage launch. This initiative represents one of the company's most substantial product introductions, designed to engage key audiences from media to consumers through immersive, hands-on experiences.

The launch commenced earlier this fall with an exclusive Ride N’ Drive event at the Illinois Autobahn Country Club. There, participants had the opportunity to personally evaluate the new tyres across a variety of driving conditions, including autocross challenges and highway simulations. This direct testing allowed them to assess critical performance attributes such as handling and comfort while also facilitating valuable interaction with Nexen’s own engineering and product development teams.

The campaign now advances to a broader stage, moving to the 2025 SEMA Show in Las Vegas. Nexen Tire America will host an extensive activation featuring a 240-foot booth where the N’Priz S and N’Fera Sport will be prominently displayed. The exhibit will include original equipment vehicles, motorsports trucks competing on Nexen tires and a dynamic schedule of live discussions with company leadership, technical experts and brand partners on the specially created Nexen Live stage. This platform will also serve to showcase the brand's latest progress in areas like tyre design simulation and electric vehicle development.

These two tyres are engineered to meet the distinct needs of different drivers, thereby broadening Nexen’s market reach. The N’Priz S is a grand-touring all-season tyre that is also EV-compatible, focusing on delivering a quiet, comfortable ride and reliable traction for daily commuting and long-distance travel. It incorporates advanced AI performance prediction and virtual simulation technology to optimise tread design and reduce cabin noise, alongside a specialised rubber compound aimed at enhancing tread longevity and overall efficiency.

In contrast, the N’Fera Sport is an ultra-high-performance summer tyre built for drivers seeking precision steering response and superior control in warm conditions. Its design prioritises direct feedback, confident wet-road braking and stability while still maintaining usability for spirited street driving. The N’Fera Sport is scheduled to arrive at dealers this fall, with the N’Priz S following in early 2026. Together, these launches underscore Nexen’s commitment to technological innovation and creating meaningful connections with the driving public.

Brian YoonSeok Han, CEO, Nexen Tire America, said, “Nexen Tire’s growth in the US is being fuelled by innovation and experience. We wanted people to feel what sets these new tyres apart, including how they handle, how they perform and how they represent our continued commitment to excellence. Ride N’ Drive gave us that direct connection with our partners, and now SEMA allows us to share that story on a global stage.”

Theresa Kapper, Director of Marketing for Nexen Tire America, said, “Launching the N’Priz S and N’Fera Sport through both Ride N' Drive and SEMA us to connect every piece of our story, from innovation and testing to excitement and scale. It’s about showing not only what these products can do, but what Nexen stands for as a brand. This rollout reflects the growth, energy and ambition driving Nexen Tire forward in the US market.”

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