Mumbai-based manufacturer outlines five-year plan with new market entries and USD 400m investment programme

Balkrishna Industries Ltd (BKT), one of India’s leading tyre manufacturers, has unveiled an ambitious strategic roadmap targeting revenues of USD 2.6 billion by 2030, representing a significant expansion from its current operations focused primarily on off-highway tyres.

The Mumbai-headquartered company presented its five-year plan to the board of directors, outlining total investments of USD 400 million to be funded predominantly through internal resources. The strategy centres on three core pillars: reinforcing its leadership position in off-highway segments, expanding carbon black operations, and entering new tyre categories specifically for the Indian domestic market.

BKT reported record revenues of INR 106.15 billion for fiscal year 2024-25, marking a robust 13 percent increase over the previous year despite challenging global macroeconomic conditions. This performance has provided the foundation for the company’s ambitious expansion plans.

The most significant strategic shift involves BKT’s entry into passenger car radial (PCR) and truck & bus radial (TBR) tyre segments, departing from its traditional focus on agricultural and industrial applications. Both new product lines will target exclusively the Indian market, with TBR pilot launches scheduled for Q4 of FY25-26, followed by PCR pilots in Q3 of FY26-27. The company expects these new verticals to contribute approximately 20 percent of overall sales by 2030.

“With this development plan, we are setting a clear and ambitious vision for BKT’s future—built on solid foundations, modularity, and organic growth. We are entering new product categories with the same focus and consistency that have driven us in the Off-Highway space, backed by the trust we’ve earned worldwide,” said Rajiv Poddar, Joint Managing Director of BKT.

In its established off-highway tyre (OHT) segment, BKT will continue consolidating its global agricultural leadership while strengthening positions in rubber tracks, mining, industrial, and construction applications. Following the successful commercialisation of rubber tracks, the board has approved expanding the dedicated production facility, which is expected to become operational in the second half of 2026.

The company plans to leverage its proprietary All-Steel Radial technology for mining applications, developing tyres up to 57 inches to complement its existing bias range. Geographically, growth efforts will concentrate on the Americas, India, and selected international markets whilst maintaining a steady European presence.

BKT’s carbon black division represents another growth engine. Over the past three years, it has established itself as a strategic partner for major tyre manufacturers domestically and internationally. The company focuses on speciality carbon black segments targeting high-performance non-tyre applications, including speciality and advanced carbon black grades.

Production capacity will expand from 200,000 to 360,000 metric tonnes annually to support this trajectory, incorporating advanced carbon black development. The project is scheduled for completion by early 2026, positioning BKT to capitalise on growing demand in both tyre and non-tyre applications.

The strategic plan emphasises an integrated industrial structure leveraging shared infrastructure, existing synergies between production hubs, and consolidated brand investments. This approach aims to enable scaling without compromising profitability—a critical consideration as BKT diversifies beyond its traditional market segments.

Despite the expansion into new categories, BKT remains committed to its core off-highway vision, targeting a 10% global market share in off-highway tyres by 2030. This goal underpins the company’s strategy of consolidating positions in high-value segments whilst expanding its presence across strategic international markets.

The announcement comes as India’s tyre industry benefits from strong domestic economic growth, providing favourable conditions for BKT’s market expansion. The company’s existing portfolio spans over 3,600 products sold across 163 countries worldwide, primarily serving agricultural, industrial, earthmoving, mining, ATV, and gardening sectors.

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Ecolomondo Corporation, a Canadian developer of advanced recycling technology for scrap tyres, has announced a significant milestone with the continued commercial shipment of its recovered carbon black (rCB). The company has successfully shipped a fourth truckload of rCB from its Hawkesbury Thermal Decomposition Process (TDP) facility and is preparing to dispatch a fifth, following a new purchase order from a major off-take partner.

This commercial activity follows the recent installation and commissioning of new milling equipment and a dedicated processing line for recovered carbon black at the Hawkesbury plant. After an initial quality validation and a first purchase order received on 16 July 2025, the company has now fulfilled four orders with a fifth imminent.

In a further endorsement of product quality, a second major off-take customer, based in the United States, has formally approved Ecolomondo’s rCB for use in its manufacturing processes. This approval is anticipated to lead to substantial bulk purchase orders in the near future.

The company views these successive orders and the new quality approval as strong validations of the operational performance and output quality of its Hawkesbury TDP facility. When the plant reaches full operational capacity, it is projected to recycle roughly one million scrap tyres from cars, SUVs and trucks annually. This operation will yield an estimated 4,000 metric tonnes of recovered carbon black, 5,000 metric tonnes of pyrolysis oil, 2,000 metric tonnes of steel and 1,200 metric tonnes of process gas, contributing to a more circular economy.

Interim CEO JF Labbé said, “Off-take customers are steadily adopting the rCB on a global scale and are now integrating it into their regular production to produce new sustainable products. It is satisfying to see that scrap tyres are being processed to produce re-usable end-products to manufacture other consumable products.”

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Kuwait is launching a comprehensive initiative to convert its stockpiles of waste tyres from an environmental concern into a driver of economic growth. As reported by the Arab Times Kuwait, the nation is moving millions of used and damaged tyres from vast dumpsites, like the one in Rahiya, to specialised recycling plants. This strategic shift aims to mitigate ecological hazards while simultaneously generating new investment prospects and job opportunities.

While three recycling facilities are currently operational, officials acknowledge that the annual output of nearly two million waste tyres necessitates a significant expansion of capacity. To address this, plans are actively progressing to establish new factories in Salmi. This increased infrastructure is intended to ensure all locally generated tyres are processed and transformed into valuable commodities.

The government sees substantial economic potential in this sector, citing international success stories where tyre recycling generates billions in annual revenue. For Kuwait to achieve similar results, officials emphasise the need to strengthen regulatory frameworks and encourage continued investment. The repurposed materials are anticipated to supply several local industries, finding applications in road construction, athletic flooring, insulation and fuel production.

This priority was recently underscored in a high-level meeting chaired by Prime Minister Sheikh Ahmad Al-Abdullah Al-Sabah. The discussions focused on accelerating recycling projects, underscoring the dual objective of safeguarding the environment and cultivating new financial resources for the state.

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In a concerted effort to build a more cohesive and vibrant organisational culture, HS HYOSUNG is significantly broadening its range of value-sharing initiatives for its workforce and their families. Central to this mission is the ‘Culture Together’ series, an internal cultural project established in 2024 on the suggestion of Vice Chairman H S Cho. This programme is designed to provide shared cultural experiences that enhance communication and unity across the company.

A key component of the '2025 Culture Together' series involved securing tickets for over 100 domestic and international employees to attend Psy’s Summer Swag concerts. To ensure accessibility for staff based in various locations, the company arranged for performances across six different cities, including Incheon, Gwacheon, Uijeongbu, Suwon, Gwangju and Busan. This follows earlier global cultural events organised this year, such as company outings to the Coldplay concert in Seoul and the Disney 100th Anniversary Exhibition.

Beyond music, HS HYOSUNG has also engaged employees through cinema and sports. A private screening of the hit film F1: The Movie was held for more than 200 staff members, offering a story of teamwork that resonated with the company’s own values. The company’s support for athletic events included inviting employees and their families to high-profile football matches, such as FC Barcelona’s friendly game in Korea and an upcoming FC Seoul match, where employees' children will participate as official escort kids.

These ongoing efforts, operating under the slogan ‘Value Together’, are a fundamental part of HS HYOSUNG’s strategy to foster empathy and strengthen bonds among its employees. The company has committed to continuing this path by developing ever more diverse and relatable programmes aimed at nurturing a warm and dynamic corporate culture.

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Celebrating a remarkable 30-year alliance, FC Internazionale Milano and Pirelli have reaffirmed one of the most enduring partnerships in global football. This significant milestone underscores a relationship built on shared values of excellence, tradition and a profound passion for sport.

To commemorate this occasion, a special-edition PIRELLI cap has been released. Limited to just 1,995 units – a direct nod to the year the partnership began – this collector’s item merges the iconic symbols of both brands. The cap features the Pirelli logo prominently on the front, accompanied by the Inter crest on the side. A distinctive Biscione motif extends elegantly across the design, seamlessly uniting the identities of both institutions. The number 30 is also featured, highlighting the three decades of continuous collaboration.

This exclusive accessory is now available for purchase online and at Inter Stores Milano, including the Castello and San Siro locations. More than just merchandise, the cap serves as a tangible symbol of a deep and historic bond between two legendary names.

The celebratory product will also be prominently featured during a symbolic sporting weekend. It will be showcased both at the Netherlands Grand Prix and during Inter’s Serie A match against Udinese on 30-31 August, linking two major events that reflect the partnership’s dual commitment to elite football and high-performance motorsport.

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