Wacker Chemie AG, a speciality chemicals company, has confirmed its growth and sustainability targets on Capital Markets Day today. The targets were communicated in 2022, aiming for sales of EUR 10 billion and an EBITDA margin in excess of 20 percent by 2030, as well as absolute CO2 emissions reduction of more than 50 percent by 2030 as against the 2020 baseline.

At a Capital Markets Day event hosted at the company's biggest location in Burghausen, the company shared specifics about the steps it has taken thus far and the progress it has achieved. Twenty-five percent of the 40 investment projects that were proposed in March 2022 have already been finished. From the end of 2021 to the present, Wacker has invested approximately EUR 1.7 billion in new silicone specialities facilities in Nünchritz, increased capacity for producing high-quality polymer products for the construction industry at the company's Nanjing, China and new mRNA competence centre in Halle (Saale), Germany, as well as increased semiconductor-grade polysilicon production in Burghausen.

Christian Hartel, President & CEO, Wacker Chemie AG, said, “We are on track despite the challenging market environment. Our strategy remains intact. We are in a strong financial position and are benefiting from global megatrends. Going forward, we will be focused more on improving our margins than on volume growth. This means investing more in efficiency and on expanding our portfolio of specialty products.”

Wacker wants to keep up its profitable growth trajectory and strengthen its position in desirable areas. Wacker gives the speciality chemicals industry even more priority within its chemical divisions. This comprises polymers for clever, sustainable building as well as high-tech silicones to facilitate the energy and mobility transition. The focus for biosolutions is on sustainable bioingredients and next-generation therapeutics. Regarding polysilicon, Wacker is focusing more on producing very pure silicon suitable for electrical applications. In order to do this, the business is offering solutions for worldwide themes including digitisation, smart building, sustainability and health. “We will continue to invest systematically in innovation and in expanding our global production network,” explained Hartel. “At the same time, we will keep striving to become even more productive and efficient. In this respect, key levers available to us include active portfolio management, as well as further digitalisation and automation measures.”

On the topic of sustainability, Hartel said, “For us, sustainability is a business case. Our aim is not only to improve our own footprint but, above all, to also offer our customers innovative, sustainable solutions which support them in achieving their own sustainability targets. Various ESG rating agencies have awarded Wacker top rankings in recognition of the progress we have made on our sustainability journey.”

Continental is running a promotional offer from 1 May to 31 May 2025 in which customers who purchase four Continental ExtremeContact Sport02 tyres will receive a USD 110 Continental Tire Prepaid Mastercard. Additionally, customers who pay for the four ExtremeContact Sport02 tyres using their Continental Tire Credit Card will earn an extra USD 90 Prepaid Mastercard, for a total refund of USD 200.

The ExtremeContact Sport02 is a ultra-high-performance tyre designed for passenger cars. With its SportPlus Technology, which offers quick handling, improved traction on wet roads and a prolonged tread life, this tyre is perfect for both the street and the racetrack. There are 77 sizes of the tyre available, with rim diameters ranging from 15 to 21 inches. The industry-leading coverage offered by Continental Tire's Total Confidence Plan supports the ExtremeContact Sport02.

This is a complete package that includes road hazard coverage, emergency travel interruption coverage, a customer satisfaction trial, a limited warranty, flat tyre roadside assistance and a mileage warranty (if applicable). During a road trip, Continental will assist with qualified expenditures in the event of a mechanical breakdown (maximum benefit of USD 200.00 per day, with a maximum benefit of USD 500.00 per year). In order to qualify for the deal, tyres need to be bought all at once. Only valid between 1 May 2025 and 31 May 2025, or while supplies last, with a qualifying purchase made in the 50 United States, Washington, D.C. and Puerto Rico.

Leading tyre manufacturer JK Tyre & Industries Ltd launched its ‘JK Tyre Steel Wheels’ in Farrukhnagar, Haryana, as part of its targeted expansion into rural India, focusing on places with a population of 100,000 or less.

The centre displays the whole line of JK Tyre products across all segments and is intended to serve as a one-stop shop for all tyre-related requirements. Best-in-market prices, industry-leading warranties and value-added services like wheel balance and tyre replacement are all available to customers. Notably, the business also provides non-truck tyres with a fast claim service. This retail growth is in line with JK Tyre's strategy goal of enhancing its last-mile presence and meeting the rapidly increasing demand in India's rural and semi-urban areas.

Over the following three months, the rural expansion initiative will be implemented in Telangana, Tamil Nadu, Maharashtra, Uttar Pradesh, Bihar and Haryana. Later this year, the programme will be expanded with a national rollout. Through strategic partnerships, JK Tyre is enabling local businesses to oversee and expand these centres in their areas as part of the rollout. These partnerships provide prospective entrepreneurs a chance to connect with JK Tyre's wide nationwide distribution network, encouraging independence, generating jobs locally and stimulating economic progress at the local level.

Anshuman Singhania, Managing Director, JK Tyre & Industries Ltd., said, "Our Rural expansion programme will help us to reach the interiors of the real Bharat that are economically vibrant but often under-served. We are not just building retail points; we are also enabling entrepreneurship and access. These centres will offer our full range of tyres and will act as vital touchpoints for our brand, delivering consistency, convenience and confidence to a fast-rising consumer base across India’s heartland.”

German tyre major Continental will shut down its tyre manufacturing plant in Alor Setar, Malaysia, by the end of 2025, affecting 950 workers.

The facility, which produces passenger cars, light truck tyres for the Asia Pacific market, and motorcycle tyres, has been operational since December 1979 and became a fully owned Continental subsidiary in May 2012.

Continental said the closure followed a comprehensive business review to safeguard its competitiveness in the Asia Pacific region. The company plans to optimise its product portfolio and manufacturing footprint in response to changing customer demand.

Despite the closure, the German tyre maker emphasised that Malaysia remains a key market in its Asia Pacific operations.

Continental will support affected employees, including career counselling, and help them find potential employment opportunities both within and outside the company, according to the statement.

The 133,000-square-metre manufacturing site is one of six Continental tyre plants in the Asia Pacific region. The company will continue to operate facilities in Hefei, China; Rayong, Thailand; Modipuram, India; Kalutara, Sri Lanka; and Petaling Jaya, Malaysia.

NEXEN TIRE, the global tyre manufacturer, has reported exceptional financial performance for the first quarter of 2025, with revenues climbing to KRW 771.2 billion and operating profit reaching KRW 40.7 billion. The results represent a 13.7 percent year-on-year increase, setting a new quarterly record for the company and surpassing market expectations.

The South Korean tyre maker's strong showing comes despite ongoing industry challenges, with the company leveraging expanded production capacity and a focus on premium products to drive growth. The Czech plant's phase 2 expansion has significantly boosted output volumes, while increasing demand for larger 18-inch and above tyres has enhanced profit margins.

European operations emerged as the standout performer, generating KRW 316.5 billion in revenue—approximately 41 percent of NEXEN's global sales. The region has benefited from stable replacement tyre demand since late last year, with particular strength in seasonal products including winter and all-weather offerings.

"Despite continued exchange rate swings and uncertainties surrounding tariff policies, our long-term efforts in capacity expansion and brand building are now bearing fruit, allowing us to continue growing," said Travis Kang, Global CEO of NEXEN TIRE.

NEXEN's strategic supply of original equipment tyres to premium European automakers since 2016 has enhanced brand recognition, driving subsequent replacement tyre sales. Meanwhile, normalising freight rates have returned to comparable levels with the same quarter last year, helping reduce the company's freight-to-sales ratio despite persistently high raw material costs.

Looking ahead, the company plans to implement region-specific strategies to navigate economic volatility. In Europe, growth will centre around increased volume and expanded capacity, while the US operation will adopt flexible approaches to counter tariff measures. The Asia-Pacific region, particularly Japan and Australia, will see customer diversification efforts and enhanced local distribution.

NEXEN is also advancing a unified product strategy for both electric and conventional internal combustion vehicles, utilising artificial intelligence and virtual reality in its development processes. Recent in-house testing has validated the superior performance of its tyres across critical metrics including braking, noise reduction and ride comfort.

Kang added, "We will continue to strengthen our worldwide competitiveness by developing customer-focused product strategies and region-specific techniques."