Continental is expanding its  manufacturing footprint for its speciality tyre business area in Sri Lanka.

The company will invest €13 million over the next three years to enhance local pre-production capabilities at its Kalutara plant, enabling it to produce material handling tyres self-sufficiently in the future. This will optimise the manufacturing process and reduce reliance on cross-country logistics, ultimately improving customer product availability.

The expansion is expected to create around 200 new jobs.

“Our Kalutara plant is an integral part of our global production network. The most recent investment decision is a testament to that. At Kalutara, we manufacture tailor-made speciality tyre products for our customers worldwide,” says Klaus Framenau, Head of Business Field Material Handling. Continental's Material Handling Business Field is looking further to expand its share of the growth markets worldwide. “We continue to systematically grow our speciality tyre business, as laid out in our Vision 2030 strategy programme.”

 Established Presence in Sri Lanka

Established in 2009, the Kalutara plant manufactures press-on-band and super elastic tyres for industrial solid tyres used in forklifts and other material handling vehicles, primarily serving the American, Asian, and select European markets.

Continental’s specialty tyre business unit operates under renowned brands like Continental, General Tire, and Barum, catering to various tyre applications across multiple sectors, including agriculture, earthmoving, port vehicles, material handling, bicycles, motorcycles, and racing.

Beyond tyres, the unit offers custom digital solutions to improve customer efficiency and reduce operational costs sustainably. Continental remains committed to developing innovative and sustainable technologies throughout the tyre value chain, from sourcing materials to end-of-life tyre recycling.

 South Korean tyre manufacturer Hankook Tire & Technology reported first-quarter consolidated sales of USD 3.42 billion, marking significant growth following the integration of Hanon Systems as a subsidiary.

The financial results show the combined performance of Hankook’s core tyre business and its newly acquired thermal management segment. For the quarter ending March, the company posted an operating profit of USD 244.1 million.

Hankook’s tyre business alone generated sales of USD 1.62 billion, representing a 10.3 percent year-over-year increase, while operating profit in this segment fell 16.3 percent to USD 229.7 million. The company attributed the profit decline to “rising costs—particularly the rise in raw material costs and ocean freight rates”.

The company’s pivot towards premium and speciality segments continues to gain momentum. 18-inch and larger tyres now comprise 47.1 percent of total passenger car and light truck tyre sales. This premium segment performed particularly well in China, accounting for 64.7 percent of sales.

Electric vehicle tyres have become an increasingly important growth driver for the manufacturer. EV-dedicated products represented 23 percent of original equipment sales for passenger cars and light trucks; a substantial six percentage point increase compared to the same period last year.

The company has expanded its portfolio of OE partnerships, recently beginning to supply its Ventus evo SUV tyres for the third-generation Volkswagen Tiguan. Hankook now supplies approximately 50 global premium automotive brands across more than 280 models.

Hanon Systems, the thermal management solutions provider acquired by Hankook in January, contributed USD 1.80 billion in sales but only USD 14.3 million in operating profit for the quarter.

The results come as tyre manufacturers globally face pressure from rising raw material costs and ongoing supply chain disruptions affecting logistics expenses.

Goodyear Tire & Rubber Company has finalised the sale of its Dunlop brand rights across Europe, North America and Oceania to Sumitomo Rubber Industries for USD 735 million, the American tyre manufacturer said.

The transaction, which became effective on May 7, includes consumer and commercial tyre rights, alongside certain intellectual property and inventory assets.

The deal forms part of Goodyear's ongoing transformation strategy, which executives have dubbed "Goodyear Forward", aimed at streamlining operations and reducing the company's debt burden.

"The sale of the Dunlop brand is another action that advances Goodyear Forward by optimizing our portfolio, reducing leverage and sharpening our focus on our core portfolio of brands," said Goodyear Chief Executive Officer and President Mark Stewart.

"Goodyear is making significant progress, transforming our operations and growing in our targeted segments, and I am confident in our ability to continue delivering on our objectives," he added.

The transaction's gross proceeds comprise USD 526 million for the Dunlop brand rights, USD 105 million for transition support and USD 104 million for inventory.

Goodyear said it intends to use the proceeds to reduce its debt as part of its broader transformation plan.

Goldman Sachs served as lead financial adviser on the deal, with Barclays Capital and law firm Cleary Gottlieb Steen & Hamilton also advising Goodyear.

THE TIRE COLOGNE (TTC) 2026 is adopting a new WALK OF SERVICES format that will focus not just on products but on solutions for the economic and organisational sustainability of the tyre industry. The event is scheduled to be held from 9 to 11 June 2026.

The WALK OF SERVICES addresses the dynamic change currently experienced by the tyre industry. Today, having the proper workshop equipment, specialised software architecture, good technical experience and long-term staff engagement and retention tactics are essential for surviving in a market that is becoming more and more complicated. By strategically connecting the pertinent partners, information and solutions in branded areas across the trade show, THE TIRE COLOGNE will provide visitors additional value through the WALK OF SERVICES.

Clear visitor instructions, exhibitor booths with a theme, live demonstrations and a diverse programme on the Service Stage all contribute to the WALK OF SERVICES' content-driven narrative. Employees, system and process solutions, workshop technology and tyre service, vehicle services and disposal and sustainability are the five topics covered by the WALK OF SERVICES. Additionally, the model gives exhibitors access to new prospects. They gain from more visibility, a tailored strategy for their target audiences and a pertinent content foundation for excellent conversations. This new format's emphasis on services shows a strong commitment to the trade show's continued growth.

Michelin, the world's foremost pioneer in tyre technology, has opened its first Michelin Tyres & Services shop in Lucknow, Uttar Pradesh, in collaboration with Tyre On Wheels, a top auto tyre dealer. Michelin India's emphasis on solid local connections is reflected in the new shop.

Tyre On Wheels offers a wide selection of Michelin tyres for high-end automobiles together with top-notch tools for tyre fitting, alignment and balancing. This alliance is well-positioned to meet changing consumer expectations given the continuous increase in private car ownership and the need for dependable after-sales servicing in Lucknow. Additionally, it backs Michelin India's continuous initiatives to grow its network of upscale stores and offer clients professional advice, high-quality goods and an exceptional level of customer service.

Tyre On Wheels has established itself as a reliable presence in Lucknow's automobile servicing industry by leveraging its 65 years of experience and three-generational heritage. In the city, Tyre On Wheels has two locations: one in Ashiyana Chauraha and one in Gomtinagar. The dealership, which is well-known for its knowledgeable advice, affordable prices and trustworthy after-sales support, provides a variety of services, such as alloy wheels, wheel alignment, balancing, nitrogen filling and tyre sales.

Shantanu Deshpande, Managing Director, Michelin India, said, “We are pleased to expand Michelin’s presence to Lucknow, a city that blends cultural heritage with rapid infrastructural growth. Our partnership with Tyre On Wheels reflects a shared commitment to quality, customer care and trust, values deeply embedded in both their legacy and Michelin’s brand ethos. As we continue to grow our footprint across India, this launch reinforces our commitment to bringing innovative tyre solutions and superior service experiences to emerging cities with growing mobility needs.”