Orion S.A. reported a net loss of USD 20.2 million in the third quarter of 2024, primarily due to a USD 42.5 million loss resulting from a fraud incident.

Despite the impact of fraud, the company’s adjusted EBITDA increased four percent year-over-year to USD 80.1 million.

Orion has revised its full-year 2024 guidance to reflect the impact of the fraud and other factors. The company now expects adjusted EBITDA to be between USD 305 million and USD 315 million and adjusted diluted EPS to be between USD 1.65 and USD 1.75 per share.

The company continues to focus on its core business, including speciality carbon black and rubber carbon black segments. While the rubber carbon black segment faced challenges due to lower demand in certain regions, the speciality carbon black segment performed well, driven by an improved product mix.

Comments (0)

ADD COMMENT

Link Copied!

The ZARE initiative held its 2026 partner meeting on 18 March 2026 in Schwenningen, hosted by the Bavarian used tyre disposal company Reifen Draws, which was simultaneously celebrating its 50th anniversary. Guests were given a firsthand look at the company’s modern recycling operations. For five decades, Reifen Draws has served tyre retailers, car dealerships and repair shops across a 200-kilometre radius, earning a reputation for reliable service and expert advice as a certified disposal firm.

During the meeting, partners described a strained market environment marked by declining business volumes, mounting price pressure and a growing shift towards lower-value scrap. Rising fuel costs add further strain, as these expenses can only be partially passed on. The situation underscores that maintaining stable, high-quality tyre recycling remains a persistent challenge requiring coordinated effort across the entire value chain.

On the political front, partners welcomed developments at the state level, notably the integration of used tyres into North Rhine-Westphalia’s circular economy strategy following an industry roundtable. However, ongoing discussions highlight the need to strengthen recycling markets and improve regulatory frameworks. In this context, a recent call by the European Court of Auditors to reinforce recycling markets – emphasising functioning markets, consistent implementation and reliable EU financing – was noted. The rise in export inquiries from non-OECD countries further reinforces the importance of transparent material flows and clear rules for a sustainable circular economy.

A notable highlight was a presentation by detection-X GmbH on automated tyre damage detection and sorting. A pilot project on damage analysis is already underway with one ZARE partner, aimed at enhancing process efficiency and recycling quality – a significant step towards a more effective circular economy.

For the coming year, the partners have prioritised a joint presence at THE TIRE COLOGNE trade fair, along with refining tendering standards, addressing declining online inquiries and strengthening public outreach. These efforts seek to raise the visibility of certified used tyre disposal and underscore the value of high-quality recycling.

Looking ahead, the new Waste Shipment Regulation, taking effect in May 2026 and becoming mandatory in 2027, will introduce significant organisational and documentation demands affecting international material flows. ZARE partners intend to actively incorporate this topic into relevant industry events.

Overall, the 2026 partner meeting reaffirmed that while the industry faces considerable challenges, it benefits from strong networks, innovative capacity and a clear sense of purpose. In a demanding market environment, close collaboration remains essential as the ZARE partners continue advancing sustainable, high-quality solutions for end-of-life tyres across the entire value chain.

Comments (0)

ADD COMMENT

Link Copied!

Toyo Tire Holdings of Americas Inc., the parent organisation of Toyo Tire U.S.A. Corp. and Nitto Tire U.S.A. Inc., has officially inaugurated a new tyre warehouse in Shippensburg, Pennsylvania. This facility is scheduled to commence its initial outbound shipping operations on 1 April 2026, marking a significant step in the company’s efforts to strengthen its presence in the Northeast and Mid-Atlantic regions. The strategic development of this warehouse directly supports the corporation’s midterm expansion objectives while aiming to reduce service times for key dealers and customers throughout that part of the country.

Spanning 409,500 square feet, this distribution hub offers storage capacity for as many as 368,000 tyres. Its primary purpose is to elevate service and distribution capabilities across 14 states in the Northeast and Mid-Atlantic, creating a ripple effect that allows the company’s existing tyre warehouses to operate with greater efficiency and maintain more consistent stock levels. By alleviating pressure on other locations, the new facility helps streamline the broader supply chain network, ensuring that inventory is positioned to meet regional demand more responsively.

In addition to its regional distribution role, the Shippensburg location is set to receive product directly from Toyo’s manufacturing facility in Serbia via the Port of New York and New Jersey. Plans are already in place to convert the site into a Foreign Trade Zone during the latter half of the year, a move intended to facilitate winter delivery operations for Toyo Canada. Equipped with advanced technology tailored specifically for tyre storage, this new warehouse represents the fifth tyre production warehouse and distribution centre established by the company across the continental United States, further solidifying its logistical infrastructure.

Curtis Maggard, Chief Supply Chain Officer, Logistics, said, “This warehouse represents a significant investment by Toyo, providing improved supply and faster service levels to our valued customers in the region. The warehouse is designed specifically for high volume tyre storage and will support Toyo’s sales forecast.”

Comments (0)

ADD COMMENT

Link Copied!

Scandinavian Enviro Systems AB (publ) has taken decisive action to terminate its agreements with Infiniteria Europe Sàrl and Cuibhil Luxco concerning their joint venture, Infiniteria. This move is formally supported by Chapter 3, Section 9 of the Swedish Company Reorganization Act and forms a key component of the corporate restructuring that received approval from the Gothenburg District Court on 27 February 2026. A three-month notice period is now in effect.

The decision stems from a strategic need to free Enviro from what it describes as burdensome and loss-making contractual commitments that hindered its path to a sustainable business model. Prior to this termination, Enviro had spent considerable time attempting to renegotiate the terms with both the joint venture company and Cuibhil Luxco in order to establish a more viable long-term structure. Those discussions ultimately failed to yield an agreement, leaving Enviro with no alternative but to invoke the legal provisions available under its ongoing reorganisation.

Once the notice period expires, the joint venture will no longer hold exclusive European rights to Enviro’s patented pyrolysis technology, nor will it continue to receive the management and technical services previously provided. By reclaiming full control over these assets and capabilities, Enviro clears the path to market its technology on a global scale, unencumbered by the prior arrangement’s restrictions.

The agreements terminated by Enviro are: a license agreement between Enviro and Infiniteria Europe Sàrl under which Enviro licenses its patented pyrolysis technology to the JV company; a marketing and agency agreement between Enviro and Infiniteria Europe Sàrl under which Enviro acts as marketing and sales agent for the products produced through tyre recycling; a services agreement between Enviro and Infiniteria Europe Sàrl under which Enviro provides technical services and management support to the JV company and its group companies; an option agreement between Enviro and Cuibhil Luxco, a subsidiary of Antin Infrastructure Partners, granting Cuibhil Luxco the right, under certain conditions, to acquire shares in the JV company from Enviro; and a shareholders’ agreement relating to the JV company between Enviro, Cuibhil Luxco and Infiniteria Europe Sàrl (collectively, the “Agreements”).

Comments (0)

ADD COMMENT

Link Copied!

Michelin has added three new accolades from the JD Power 2026 U.S. Original Equipment Tire Customer Satisfaction Study, securing the highest ratings from drivers across the Passenger Car, Performance Sport and Luxury segments. This achievement raises the brand’s total to 106 JD Power Awards since the research programme began.

The study gathered insights from over 38,244 vehicle owners, who evaluated satisfaction based on tyre wear, ride quality, appearance and traction with handling. These four key areas form the foundation of how original equipment tyres are assessed in the annual benchmark.

For more than five decades, JD Power has provided automotive manufacturers, retailers, lenders and insurers with essential data and advanced analytics to support confident decision-making. By applying proprietary intelligence and deep industry expertise, the firm continues to help partners strengthen performance and better understand customer interactions with brands and products.

Matthew Cabe, president and CEO of Michelin North America, Inc, said, “Michelin’s enduring leadership in tyre performance and customer satisfaction is driven by our unwavering commitment to excellence. Earning three new JD Power Awards reflects the passion and precision our teams bring to every product we design. Every mile and every moment, drivers can trust Michelin to deliver long‑lasting tyres and uncompromising quality.”

Comments (0)

ADD COMMENT

Link Copied!