Pirelli has announced that it had halted investments in Russia, excluding those linked to security. 

The company will also curtail the activity of its factories in the country, the Italian tiremaker said in a statement. 

"Pirelli is against this war... The investments in the local market, excluding those linked to security, have been halted," It said. 

It added that "activities of the factories in Russia will be progressively limited to those needed to guarantee the financing of salaries and social services for employees." 

Earlier this month, the company had said that it did not plan to close factories as a result of Russia's invasion of Ukraine. 

Pirelli manufactures around 10 per cent of its global tyres output in two plants in Russia.  

The company has also set up a committee to monitor the development of the crisis involving Russia and Ukraine, "for which mitigation actions and a contingency plan have already been activated". (TT)  

Yokohama Rubber reported a 56.9 percent year-on-year decline in profit attributable to owners for the first quarter of 2025, despite posting a 9.0 percent increase in sales revenue.

The Japanese tyre maker recorded a profit of 8.53 billion yen for the three months ended 31 March, down from 19.8 billion yen in the same period last year. Business profit fell 3.2 percent to 24.07 billion yen, while sales revenue rose to 275.12 billion yen.

The company maintained its full-year forecast, projecting an 11.4 percent increase in sales revenue to 1.22 trillion yen and an 8.8 percent rise in profit to 81.5 billion yen for the fiscal year ending 31 December 2025.

Yokohama Rubber attributed the profit decline to one-time costs related to its February acquisition of Goodyear’s off-the-road (OTR) tyre business, which it purchased for approximately 143 billion yen.

“Profit from existing businesses was strong,” the company said in its earnings statement. “In addition to increased sales volume for the company’s consumer tyres, mainly in overseas markets, and continued expansion of sales of high-value-added ADVAN, GEOLANDAR, and Winter tyres as well as high-inch tyres, profit was boosted by the MB segment’s MIX improvements and structural reforms.”

The tyre segment, which accounts for 91percent of the group’s consolidated sales revenue, saw a 10.4 percent increase in sales to 250.32 billion yen. Original equipment tyre sales were higher year-on-year, driven by “strong sales in Japan of vehicle models equipped with YOKOHAMA tyres and expansion of shipments for Chinese automakers’ new energy vehicles,” the company said.

Replacement tyre sales also increased, supported by higher sales of summer and winter tyres in Japan, increased sales of high-inch tyres in Europe, and stepped-up sales efforts in Asia.

The MB (Multiple Businesses) segment, which represents 8.4 percent of total sales, experienced a 3.2 percent revenue decline to 23.02 billion yen. This was attributed to lower demand from construction machinery makers in Japan and automakers in North America.

The company described an “upbeat” business sentiment in Japan for the quarter, noting that “a steady recovery in inbound demand and increasing orders for construction and logistics projects compensated for weak consumption by domestic households curbing spending in response to rising prices of consumer goods.”

Overseas, the company observed rising inflation concerns weighing on consumer spending in the United States, while in Europe, “manufacturing industries are rebounding and corporate business sentiment is improving.” In China, personal consumption was boosted by the Spring Festival holiday, but high US tariffs “reduced China’s exports and created uncertainty about the future that is weakening industrial activity.”

Swedish speciality chemicals firm Nynas reported solid financial results for 2024, posting an Adjusted EBITDA of 1,333 million Swedish kronor, marginally higher than the 1,316 million kronor recorded in 2023.

The company, which specialises in naphthenic speciality oils and bitumen products, attributed its performance to operational efficiency and commercial success in its niche markets.

“We are delighted with the progress made during 2024, evidencing our right-sized cost base and a more targeted commercial and manufacturing footprint. We have redefined our strategic direction, positioning Nynas as a speciality chemicals company, enabling the energy transition and setting our course for 2035,” Nynas CEO Eric Gosse said in a statement.

The firm highlighted strong cash generation from operations, which it said would support planned investments and longer-term growth initiatives. Nynas also mentioned the ongoing transformation of its Harburg site with plans to monetise the asset eventually.

All three of the company’s production facilities maintained high operational reliability between 95 percent and 99 percent. The Nynäshamn refinery achieved a notable milestone: in May 2024, it set a new monthly production record for naphthenic speciality oils at 42,000 tonnes.

Strategic pivot towards sustainability

Nynas outlined a strategic shift focused on higher-margin speciality materials with sustainable characteristics. The company aims to strengthen its position in European markets through innovation and sustainability initiatives.

“Nynas is uniquely positioned to contribute to the energy transition. Our strategy reflects our purpose to advance a more sustainable society, and our product development pipeline is fully aligned with this goal," Gosse added.

In 2024, the company received an EcoVadis Gold rating, placing it in the top 5 percent of globally rated businesses for sustainability performance.

With consecutive years of strong financial performance, Nynas indicated it continues to monitor debt capital markets to optimise its capital structure “at the appropriate time potentially”.

The Swedish chemicals producer noted that, having ceased operations in the United States in 2022, it remains largely insulated from recent global trade tensions surrounding US import tariffs. The company imports only minimal feedstock from America, shielding it from potential cross-border trade disputes.

JK Tyre & Industries Ltd has strengthened its position as a leader in sustainable tyre technology and a conscientious partner in India's green industrial journey by commencing production of its ‘UX Royale Green’ passenger car tyres at its Chennai Tyre Plant using ISCC Plus-certified sustainable raw materials.

Developed in August 2023, the UX Royale Green is made with 80 percent sustainable, recycled and renewable materials and was put to rigorous evaluation and testing. The sustainable tyre is the product of more than 10 years of diligent study conducted by the Global Tech Centre of JK Tyre. The company's research and development team has been concentrating on creating sustainable alternatives to traditional petroleum-based products. The certification confirms the usage of traceable, ethically obtained renewable and recycled raw materials and is given under the internationally recognised International Sustainability and Carbon Certification (ISCC +) system. Certified raw materials for the UX Royale Green include steel wire, recycled polyester, recovered carbonaceous black, bio-attributed polymers, renewable oils and recycled rubber powder. All of these products are sourced using circular methods.

Dr Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries Ltd, said, "The commencement of sustainable tyre production represents a defining step in JK Tyre’s journey toward environmentally responsible innovation. We are pleased to set new industry benchmarks that balance high performance with ecological responsibility. This milestone reflects our ongoing commitment to driving responsible mobility – anchored in green technology, circular economy principles and the delivery of world-class, low-impact products. At the same time, innovation, quality and safety continue to be foundational to our operations."

Apollo Tyres has launched the ‘Apollo Tyres Healthcare Express’, a mobile medical unit designed to monitor the health of truckers and the surrounding community. C Thomas Mathew, Unit Head, Chennai Plant, Apollo Tyres Ltd, flagged off the unit, which would service major transport hubs within a 50-km radius, including Madhavaram, Manjambakkam and Poonamallee, serving a population of over 10,000 truckers.

For a small consultation charge of INR 10 per visit, this mobile medical unit will offer essential healthcare services to the trucking community. It will provide a wide range of services, such as general medical care, screenings for certain diseases and preventative and awareness programmes. Additionally, it will increase knowledge of important health concerns including HIV/AIDS, STI prevention, vision care, tuberculosis and non-communicable illnesses like diabetes and hypertension. A team consisting of a medical officer (MBBS), a pharmacist, an optometrist, outreach workers and a project coordinator will run Apollo Tyres' Healthcare Express.

Over 12 million people have benefited from the Apollo Tyres Foundation's healthcare initiative for the trucking community since it began in 2000. The organisation reached out to more than a million people in order to raise awareness during the Covid-19 outbreak. In partnership with local authorities, it also made it easier for over 10,000 people to get tested for Covid-19 and for over 150,000 people to get vaccinated.