Retreading Business and Tyre & Rubber Recycling magazines, the organisers of the Recircle Awards, have announced the launch of 2025 Recircle Awards. In its fourth edition, the event will see a total of 22 awards covering a wide range of categories from across the tyre industry.

This is part of its endevaour to undertake a number of new initiatives to drive inclusivity and engagement across the tyre retreading and tyre recycling sectors as it seeks to evolve and expand its position as the key industry awards event recognising sustainability in the tyre industry.

The awards will culminate in a ceremony to be held next May during Autopromotec 2025 in Bologna, Italy.

David Wilson, Publisher of Retreading Business and Tyre & Rubber Recycling, said, “2025 marks the fourth edition of the Recircle Awards, and we are delighted to able to announce our continued co-operation with Autopromotec. We look forward to being able to host an enhanced ceremony in Bologna next May, and we thank Renzo Servadei and his team for their valued support in helping us to expand the influence of the Recircle Awards as the key awards event recognising the valuable contribution made by the tyre retreading and recycling sectors to the circular economy and to the sustainability of the tyre industry as a whole.

“We are constantly looking for ways to increase the scope of the Awards and to drive engagement from companies from across the industry both large and small, and in analysing feedback from the market, we identified the need to alter the weighting of the voting process in order to gain the optimum balance between the opinions of our expert judges and engagement from the wider market. As a result, 65 percent of the voting strength in the 2025 awards will now be allocated to the views expressed by our independent Nominations Committee.

“We have also increased the robustness of the nominations and voting process by asking shortlisted nominees to submit a written case in support of their nomination which can be analysed by the Committee, as well as increasing the amount of information required to be input by the voting public in order to minimise the risk of frivolous and/or organised mass voting.

“We are constantly looking at ways to improve the awards and we hope that these changes will represent a positive development as we strive to expand the profile and credibility of the Awards on a global level. We look forward to next year’s Awards ceremony with anticipation.”

The first 18 awards categories for the 2025 Recircle Awards include:

1. Lifetime Achievement Award in the Tyre Retreading Sector
2. Lifetime Achievement Award in the Tyre Recycling Sector
3. Retreader of the Year Award
4. Tyre Recycler of the Year Award
5. Best Retreading Industry Innovation
6. Best Tyre Recycling Innovation
7. Employee of the Year
8. Best Company Director
9. Spirit of Retreading Award
10. Circular Economy Award
11. Best Tread Rubber Supplier
12. Best Retreading Equipment Supplier
13. Best Retreading Accessory and Consumables Supplier
14. Best Tyre Recycling Industry Supplier
15. Women’s Award for the Tyre Retreading Sector
16. Women’s Award for the Tyre Recycling Sector
17. Best Tyre Recycling Research Project
18. Business Breakthrough Award

A further four categories will be announced on Monday, 10 February, 2025.

The nominations for the Recircle Awards are now open and can be made through the official voting/nominations platform on the Recircle Awards website.

The shortlist will be announced in a virtual Nominations Ceremony on Monday, 20 January, 2025, will once again be selected by a specially constituted Nominations Committee of 15 people, consisting of the respective editors of Retreading Business and Tyre & Rubber Recycling plus a further 13 individuals from the global tyre retreading and recycling industries selected according to their independent status and their acknowledged expertise within their respective fields.

The voting for the 2025 Recircle Awards will open as soon as the shortlists are announced and will run until Friday, 14 March, 2025. The Awards Ceremony will take place on Thursday 22 May, 2025, during Autopromotec 2025 in Bologna.

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Balkrishna Industries (BKT) reported a six percent rise in quarterly volumes and commissioned additional carbon black capacity, even as US tariffs and volatile commodity prices weighed on parts of its export business.

The company’s sales volumes rose to 80,620 metric tonnes in the quarter to December 2025, up six percent year on year and about 15 percent higher than the previous quarter. For the first nine months, volumes were 231,536 metric tonnes, down onepercent from a year earlier.

Standalone revenue for the quarter was INR 26.82 billion, up 4 per cent year on year, including a realised foreign exchange loss of Rs 470 million relating to sales. For the nine months, revenue was Rs 77.62 billion, broadly flat, including a realised forex loss of Rs 1.17 billion.

Earnings before interest, tax, depreciation and amortisation were Rs 6.05 billion for the quarter, with a margin of 22.5 percent. For the nine months, EBITDA was INR 17.6 billion, down 11 percent year on year, with a margin of 22.7 percent. Profit after tax for the quarter was INR 3.75 billion, and INR 9.27 billion for the nine-month period.

Rajiv Poddar, Joint Managing Director of BKT, said the “geopolitical and macroeconomic environment continues to remain challenged and the situation with U.S. tariffs remain unchanged”.

In the US, sales momentum improved sequentially after a weak second quarter. Poddar said the group had regained some momentum by sharing the tariff burden with distributors. “Because of our strong brand positioning and quality and some major chunk of the tariffs to be shared between us and our channel partners, we have been able to gain some of the momentum that we had lost in the Q2,” he said.

He declined to quantify the impact of tariffs on margins, but confirmed that costs were being shared. Channel inventory in the US and Europe was “at par at where it should be”.

India remained the strongest market, supported by lower goods and services tax rates and favourable monsoon conditions. The domestic portfolio is split roughly 60 percent industrial and construction tyres and 40 percent agricultural tyres. Higher India contribution has a “slightly lower” average selling price, Poddar said, but margins have remained broadly stable.

In Europe, demand improved sequentially as earlier destocking eased. The European Union Deforestation Regulation, originally due to take effect from January 2026, has been deferred by one year. Madhusudan Bajaj, Senior President and Chief Financial Officer, said the current import duty into Europe is four percent, though the impact of the proposed free trade agreement with the EU is not yet clear.

Freight costs were about 5 percent of revenue in the quarter and are expected to remain in that range.

On raw materials, Bajaj said oil and natural rubber prices were moving higher, but it was “too early to say what will be the impact”. The average euro rate in the quarter was about INR 97.

Capital expenditure remains elevated. The company has spent about INR 22 billion in the first nine months of the financial year and expects total spending of roughly INR 25–26 billion in FY2026, with the balance of committed projects to be completed in the following year.

During the quarter, BKT commissioned a new carbon black line, taking total capacity to 265,000 metric tonnes per annum. The incremental capacity is intended for external sales rather than captive consumption. Carbon black accounted for less than 10 percent of revenue in the quarter, with margins expected to align with industry averages.

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ZAFCO, a leading global manufacturer and distributor of automotive tyres, batteries and lubricants, has strengthened its corporate governance with the addition of Hee Se Ahn to its Board as an Independent Director, effective 1 January 2026. Bringing over three decades of specialised industry experience, Ahn is recognised for his extensive leadership in the global tyre sector.

His professional background is deeply rooted in international commerce, with significant achievements in overseas sales, strategic marketing and high-level management across key markets in Asia, Europe and the Americas. Prior to this appointment, his career included senior roles such as Executive Vice President at Nexen Tire and Managing Director at Hankook Tire, based in Seoul. Throughout his career, he has been instrumental in fostering international expansion and enhancing market positions while leading diverse, cross-regional teams, solidifying his status as a respected figure in the industry.

Zafar Hussain, Executive Director, ZAFCO Group, said, “We are pleased to welcome Hee Se Ahn to the Board of ZAFCO. His extensive international experience in sales, marketing and regional leadership will bring valuable perspectives to the company. His deep understanding of the global tyre industry will be a strong asset to both the Board and the management team.”

Amir Abbas, Executive Director, ZAFCO Group, said, “We are delighted to welcome Hee Se Ahn to the ZAFCO Board. He brings with him a global business mindset and rich insights into leadership and international business transformation. We look forward to his contributions as we continue to strengthen our global presence.”

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Nokian Tyres has approved an updated strategy and financial targets through to the end of 2029, setting a net sales objective of €1.8 billion–€2 billion and outlining measures to strengthen profitability and reduce leverage.

The Finnish tyre maker said it would prioritise sustainable, value-driven growth following what it described as the most significant transformation in its history.

“Over the past years, Nokian Tyres has navigated the most significant transformations in its history. This period has been a complete strategic reset as we rebuilt the new Nokian Tyres platform. As we now enter the next phase of our development, we will refocus on sustainable, value-driven growth. This positions us to take better control of the unpredictable also in the future and will reduce our exposure to geopolitical risks,” said President And Chief Executive Paolo Pompei.

Under the revised targets, the company aims for segments EBITDA of more than 24 percent and segments operating profit above 15 percent. It also intends to keep net debt to segments EBITDA below 2.

Nokian Tyres will continue to use segments EBITDA as its primary profitability metric and has defined a range for net sales rather than a single figure.

The group reiterated its dividend policy, targeting distribution of at least 50 percent of net earnings.

Strategically, Nokian Tyres said it would focus on its core segments. In passenger car tyres, it aims to maintain a market-leading position in winter tyres and deliver above-market growth in the all-season and all-weather categories. In heavy tyres, it is targeting above-market growth in agricultural and forestry tyres.

Vianor will continue to serve as a European sales and service channel for both passenger car and heavy tyres.

The company said market trends including electrification, a growing car parc, increasing rim sizes and rising demand for winter tyres support development in its chosen segments.

“Our updated financial targets set a clear direction for the future and reflect our ambition to create sustainable value for our shareholders. Profitability improvement will be driven both by volume growth and by more than EUR 100 million coming from targeted performance initiatives. While maintaining strong performance in the Nordics, we aim to accelerate growth in North America and Central Europe. We will prioritize value creation through premium positioning, improved product mix and disciplined cost and operational efficiency,” Pompei said.

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Carter’s Tyre Service has announced that Rob Watson will take on the role of Chief Executive Officer, adding this responsibility to his existing position as CEO of NTAW NZ. His appointment marks a significant development for the company, drawing on deep experience gained across New Zealand and the Pacific region.

Known for driving performance improvement and strengthening customer relationships, Watson brings a proven ability to lead service-oriented organisations. His focus will be on enhancing operational performance, supporting customers and empowering teams to maintain consistent service standards nationwide.

This leadership transition coincides with the forthcoming retirement of Mike Hollier in April. Hollier will remain actively involved in the coming months to facilitate a seamless handover. The company has acknowledged his valuable leadership and lasting contribution throughout his time with Carter’s Tyre Service.

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