In a strategic move effective January 1st, 2024, Ralf Benack steps into the role of Managing Director for KraussMaffei’s Extrusion EMEA. Tasked with overseeing the business operations and global development of Extrusion technology, Benack brings a wealth of experience from his nearly two-decade tenure at Continental AG.

Previously at Continental AG, Benack held various key roles, culminating in his leadership of the tyre management solutions business for commercial end users in EMEA. His extensive background also includes overseeing sales and marketing of truck tyres in the Asia-Pacific region and managing projects in research and development for tyres at Continental.

The appointment of Ralf Benack underscores KraussMaffei’s commitment to advancing its Extrusion EMEA division under experienced leadership with a proven track record in the industry.

Ralf Benack says, “I am very much looking forward to becoming part of the KraussMaffei Extrusion team and driving the business forward together with all my colleagues! Together, we will continue to impress our customers with our innovative extruder solutions.” 

CEO Chi Zhang says, “I warmly welcome Ralf Benack to KraussMaffei. With his many years of experience in management positions in EMEA and APAC and his expertise in the design, sale and implementation of integrated solutions for customers, he will lead KraussMaffei Extrusion EMEA to a next stage and develop the technology together with the global team. I am very much looking forward to working with him.”

 

Investigation reveals coordinated theft by contractors and employees through bulk pilferage and excess loading schemes

Goodyear India Limited disclosed that a comprehensive investigation by Ernst & Young uncovered a sophisticated theft operation at its Ballabgarh manufacturing plant, resulting in the loss of 4,571 tyres valued at approximately INR 39.11 million.

The tyre manufacturer’s board reviewed the investigative findings during a meeting that concluded last week, revealing what the company described as “potential theft of tyres in bulk by contractual workers involved in security, warehousing and loading operations, acting in collusion.”

Dual Theft Operations Exposed

The Ernst & Young investigation, spanning October 2023 to November 2024, identified two primary theft methods that enabled the systematic pilferage of farm tyres from the Faridabad-based facility.

Bulk Theft Scheme: The more significant operation involved truckloads of tyres being removed from the plant through coordination between third-party loading supervisors, warehouse workers, security guards, and external accomplices. Electronic communications reviewed by investigators revealed references to 4,057 tyres across 20 dates between July and December 2024, with detailed SKU counts discussed among the conspirators.

Security records were deliberately manipulated to conceal the theft, with one security contractor admitting to accepting kickbacks from a loading supervisor to avoid recording truck details carrying stolen merchandise.

Excess Loading Operation: A secondary scheme involved loading additional tyres beyond invoiced quantities onto legitimate shipments, with the excess stolen during transit. The investigation revealed a significant increase in overweight dispatches during the July-November 2024 period, with 50 per cent of overweight trucks dispatched during this timeframe, compared to historical patterns.

Quality assurance protocols were compromised, with one employee admitting to receiving instructions from a third-party warehouse vendor to disregard overweight trucks and dispatch them without conducting mandatory quality studies. The employee estimated that 5-6 excess tyres were loaded per truck in select shipments to Goodyear warehouses.

Quality Control Manipulation

The investigation also uncovered systematic inflation of tyre rejection quantities during pre-dispatch inspections. A quality assurance employee acknowledged receiving kickbacks to artificially inflate rejected tyre counts in daily reports, despite no physical rejections having occurred, allegedly to help manage inventory shortfalls maintained by the third-party warehouse vendor.

Data analysis revealed an increase in rejection rates in 2024 compared to 2023, with the manipulation involving collusion between employees and third-party quality inspectors.

Operational Control Gaps

Beyond the theft schemes, Ernst & Young identified significant weaknesses in Goodyear’s inventory management and production processes. The manual production handover system lacked proper verification, with multiple employees admitting that the defined processes weren’t followed.

Production records maintained manually revealed discrepancies, with multiple spreadsheets containing different production numbers for the same periods. The investigation found that production during shutdown periods wasn’t recorded in the Production Management Information System, creating variances that couldn’t be validated due to unreliable manual records.

Financial Impact and Response

The financial impact of the inventory shortage identified in November 2024 was already recognised in Goodyear India’s financial statements for the quarter ended 31 December 2024. “The management has taken cognisance of the findings and initiated appropriate legal and disciplinary actions against those involved,” the company stated in its regulatory filing. “Proactive measures, including a site security assessment and tightened controls, have been implemented.”

Investigation Methodology

Ernst & Young’s fact-finding review employed comprehensive investigative techniques, including data analytics, transaction testing, background checks on suspected third parties, forensic imaging of electronic devices, and interviews with employees and contractual workers.

The investigation covered electronically stored information from the laptops and server backups of suspected individuals, utilising keyword-based searches to identify suspicious communications that proved crucial in establishing the theft patterns.

Regulatory Compliance

The disclosure fulfils Goodyear India’s obligations under Regulation 30 of the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements Regulations, 2015. The company initially informed stock exchanges of the inventory variance on 12 February 2025.

“The Company remains committed to upholding the highest standards of corporate governance and safeguarding stakeholder interests,” Goodyear India stated in its filing.

The University of Akron (UA) has reclaimed its position as the world’s top-ranked institution for polymer science and plastics engineering programme, according to EduRank.org. After briefly falling behind Japan’s Kyoto University and the University of Tokyo in recent years – though remaining the highest-ranked US programme – UA now leads globally.

This year, UA surpassed prestigious institutions such as MIT, Harvard, the University of Manchester and Germany’s Martin Luther University of Halle-Wittenberg in the rankings, which evaluated over 1,000 programmes worldwide. UA’s School of Polymer Science and Polymer Engineering (SPSPE) offers advanced master’s and doctoral degrees, supported by faculty with more than 300 issued and pending patents. The achievement underscores UA’s continued leadership in polymer research and innovation.

Craig Menzemer, dean of the College of Engineering and Polymer Science, said, "This ranking reaffirms the global reputation of our faculty and programmes. Our sustained leadership in polymer science is built on decades of innovation, excellence in research and close ties with industry. We’re proud to be the destination for students and partners around the world who want to advance the field.”

Tyrewise, New Zealand’s regulated product stewardship scheme for end-of-life tyres, is inviting innovators, investors and change-makers to submit their best ideas to develop the market for recycled rubber. With substantial funding now available, this initiative aims to transform worn-out tyres into valuable products while driving economic growth.

The first grant funding round is now open for expressions of interest, running from 1 July to 29 July 2025. A total of USD 7 million will be distributed across three rounds within the financial year. Tyrewise has ambitious targets: recycling 80 percent of end-of-life tyres into new products by its fourth year and over 90 percent by its sixth year.

Eligible applicants include registered NZ businesses, research institutes and universities, preferably with at least 12 months of operation. Strong environmental, safety and financial performance will also be key considerations. This is a unique opportunity to advance sustainable innovation in tyre recycling.

Mark Gilbert, Chair of Auto Stewardship New Zealand that governs the Tyrewise scheme, said, “Tyrewise works with the whole industry to ensure tyres are collected for recycling or repurposing. The scheme is achieving a high collection rate and is now focussing on developing high-value, best use recycling and repurposing solutions for the tyres. To enable this goal, Tyrewise is providing contestable funding to help develop end markets for the recycled rubber material from tyres in New Zealand.”

Adele Rose, Tyrewise Scheme Managers, 3R Group, said, “Tyres are a versatile resource that can be turned into many products or used in a number of processes, such as roading, playground surfacing, as a substitute for aggregate or even earthquake-proofing buildings. The market in New Zealand isn’t currently big enough though to take all the recycled rubber from tyres which are collected, so the aim of the fund is to stimulate the development of new products and markets here. The fund is structured into three main ‘streams’ – research and development, emerging markets and community development. This allows funding to back projects across the spectrum of the typical phases of product development. This is a call for expressions of interest. Once we have assessed them, we will ask for a more formal, detailed application. Kiwis are innovators by nature, so we’re excited to see what ideas are out there to create a circular economy for tyres here at home.”

Vikram Makar, Managing Director, Oriental Rubber Industries and Former President, All India Rubber Industries Association, passed away on 5 July 2025. 

The second-generation entrepreneur was instrumental in expanding Oriental Rubber’s presence not just in India but to over 50 countries globally, including North America, Europe, Australia, Southern Africa and the Middle East. Under his leadership, Oriental Rubber Industries became the leading exporter of conveyor belts from India.

The 62-year-old rubber industry veteran was vocal for India’s rubber MSME sector — passionate, insightful and deeply committed to seeing these small businesses thrive. 

Maker spoke with a rare blend of industry knowledge and empathy, underlining the human side of economic policies. He didn't just highlight the challenges; he offered practical recommendations.

Beyond policy, he exemplified leadership grounded in compassion, seeking systemic change with a sense of urgency and care. Makar’s legacy is one of actionable insight and unwavering belief in the resilience of India’s small enterprises.

Makar will be remembered not just as an expert voice in the rubber industry and finance, but as a thoughtful, empathetic leader.