Hankook Publishes 2022-23 ESG Report

Hankook, the premium tyre manufacturer, has released its 2022/23 Environmental Social Governance (ESG) Report, detailing its sustainability initiatives and strategies for the current year. Notably, the Science Based Targets Initiative (SBTi) has validated Hankook's greenhouse gas emission reduction targets, committing the company to achieve net zero emissions by 2050 according to the SBTi Net Zero standard.

This marks Hankook's 14th ESG Report, following its ESG vision, "Innovation for a Sustainable Future" introduced in 2010. The report encompasses the company's sustainability activities and its medium- and long-term strategies across environmental, social, and governance areas. It places equal emphasis on three key priority areas: Eco Value Chain, Sustainable Product, and Responsible Engagement.

Hankook has been progressively strengthening its commitment to sustainable management, enhancing its ESG management system. This journey began in 2009 with the establishment of a corporate social responsibility (CSR) organisation, followed by the formation of the ESG Strategy Committee and Steering Committee in 2010. In 2018, Hankook initiated a strategic effort to implement sustainable natural rubber policies and promote an eco-friendly circular economy system. By 2021, the company established an ESG Committee within the Board of Directors, and in 2022, it unveiled a Corporate Governance Charter, cementing its commitment to transparent and ethical ESG practices.

Hankook has proactively reduced its greenhouse gas emissions, positioning itself as a leader in constructing an eco-value chain. The company has developed a comprehensive climate change response strategy and incorporated a Climate Change Committee into its management activities. It has also undertaken various energy-saving initiatives, including adopting high-efficiency equipment, optimising energy efficiency, and using renewable energy. These efforts have resulted in a 2.74 percent reduction in greenhouse gas intensity compared to the previous year.

With a firm commitment to addressing climate change, Hankook joined the Science Based Targets Initiative in March 2022 and submitted its greenhouse gas emission reduction targets. These targets align with the latest climate research findings and the goals of the Paris Agreement. By 2030, Hankook aims to achieve a 46.2 percent reduction in total direct and indirect greenhouse gas emissions (Scopes 1 and 2) generated during the production stage, compared to 2019 figures, in compliance with the SBTi validation. Additionally, the company has set a 2030 target to reduce total greenhouse gas emissions generated throughout the value chain (Scope 3) by 27.5% compared to 2019 figures. This recognition by the SBTi signifies Hankook's commitment to achieving net zero emissions by 2050 based on the SBTi Net Zero standard, a responsibility shared by approximately 5,700 companies worldwide.

Hankook is also dedicated to developing eco-friendly tyres using highly functional synthetic rubber, furthering its ESG goal of increasing the use of sustainable raw materials. Recognised for its efforts to achieve carbon neutrality, Hankook has received top ratings from multiple global ESG evaluation agencies.

Moreover, the company is actively engaged in intelligent tyre technology, incorporating sensors in the tread to detect wear and developing airless tyres like the i-Flex. To contribute to a more sustainable future, Hankook is actively involved in establishing a sustainable supply chain, implementing human rights management, promoting employee well-being, and participating in social contribution activities.

Hankook has been included in the Dow Jones Sustainability Indices (DJSI) World, a prestigious sustainability index, for seven consecutive years.

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Ironman Tires, a brand owned by Hercules Tire and Rubber Company (HTR), a wholly owned subsidiary of American Tire Distributors, has unveiled the iMOVE Sport G2, a next generation all season ultra-high-performance tyre crafted for modern sport sedans, performance crossovers and select electric vehicles. This launch responds directly to shifting demands in the automotive market.

Building on the original iMOVE Gen2 A/S, the new model features an advanced tread compound, a refined tread pattern and better durability. It offers confident traction on both dry and wet roads, extended tread life and a quieter, more comfortable ride. Priced competitively, it helps dealers gain ground in the rapidly growing Tier 4 performance tyre segment. The asymmetrical tread layout balances precision handling with daily comfort, using large outer shoulder blocks for cornering stability and a continuous centre rib for straight line control. Strategically placed 3D siping and angled grooves push water away from the contact patch to improve wet and light snow traction, while a variable pitch tread sequence cuts road noise for commutes or long trips.

A new generation rubber compound reduces heat buildup and extends tread life by managing frictional heat and optimising rubber density, which also boosts fuel efficiency. The tyre is EV ready, designed to handle the higher torque and weight of electric vehicles. Available in 17 sizes for 18- to 21-inch rim diameters, 16 sizes will arrive by early May, with the first eight ready now. Several emerging sizes new to the Ironman lineup give dealers fresh sales opportunities.

Competitive pricing and dedicated merchandising support help dealers grow their share in the value-oriented performance tyre segment while maintaining strong inventory and fill rates. The iMOVE Sport G2 comes with a 5-year limited protection policy covering workmanship and materials, road hazard protection and a 50,000-mile (approximately 80,467-km) warranty.

Keith Calcagno, Chief Strategy Officer, Proprietary Brands, American Tire Distributors, said, “The ultra‑high‑performance tyre market has evolved rapidly as vehicles become more powerful and more refined and as demand grows for tyres that can meet the unique requirements of electric vehicles. The iMOVE Sport G2 delivers the performance drivers expect while helping dealers boost inventory flexibility and capture more market share.”

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GRP Ltd, a leading manufacturer of reclaimed rubber, engineering plastics and repurposed polyolefins, has announced the retirement of Virendra Rathod, President of Marketing and Business Development, effective 31 March 2026. Following his retirement, Rathod will no longer be part of the company’s senior management personnel, said the company in its BSE filing.

During a board meeting held on 27 March 2026, the directors formally took note of Rathod’s retirement and recorded their appreciation for his valuable contributions throughout his service with GRP Ltd. His departure marks the conclusion of a significant chapter in the company’s marketing and business development functions.

In a separate leadership change, Jyoti Sancheti has resigned from her role as Company Secretary and Compliance Officer, effective from the close of business on 7 April 2026 to pursue external opportunities. Consequently, she will also step down from additional responsibilities, including Compliance Officer under the SEBI Prohibition of Insider Trading Regulations, Nodal Officer under IEPF rules and the authorised person for determining event materiality and stock exchange disclosures under SEBI Listing Regulations.

GRP Ltd has confirmed that the process to appoint a new Company Secretary is underway and will be completed within the prescribed timeframe.

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Niutech Environment Technology Corporation (Niutech), a China-based company specialising in continuous pyrolysis technology for recycling waste tyres, plastics and oil sludge, marked a major milestone on 24 March 2026 as its majority owned subsidiary, Shandong Hesheng Environment Technology Co., Ltd., broke ground on a significant expansion. This project will add 100,000 tonnes of annual tyre pyrolysis capacity, raising Hesheng’s total processing volume from 60,000 to 160,000 tonnes per year. With this increase, Hesheng becomes the world’s largest operation for collecting, processing and comprehensively utilising scrap tyres through pyrolysis technology.

At the heart of this expansion is Niutech’s latest generation of high capacity, continuous intelligent pyrolysis equipment, which delivers better performance in per unit output, system reliability and automation compared to conventional designs. These improvements are expected to reduce operating costs per tonne and strengthen the overall financial viability of the project. Solving the challenge of large scale, uninterrupted commercial pyrolysis has long been a central goal for the industry. This project proves Niutech’s progress not only in advanced equipment development but also in making continuous pyrolysis practical for widespread industrial use.

On the product quality side, Hesheng has drawn on Niutech’s research capabilities to steadily improve the consistency and performance of its pyrolytic outputs. The tyre derived oil has already earned international certifications, giving it access to demanding global markets. At the same time, through ongoing technical innovation, the pyrolysis carbon black is being upgraded towards standardised, higher value applications. These efforts directly address customer needs for uniform quality, reliable handling and strong application specific performance.

With the circular economy gaining speed worldwide, major tyre producers, chemical companies and material buyers are seeking greater volumes of high-grade pyrolysis oil and carbon black. Once the expanded facility is online, Hesheng will be equipped to meet that demand with stable, large-scale supply of dependable recycled materials. Niutech has also stated that it will continue using its public company strengths in technology and capital to drive further equipment upgrades and broader deployment of pyrolysis systems, supporting global waste tyre recycling and low carbon development.

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Sun Auto Network has expanded its footprint in Southern Indiana and the Greater Louisville market with Carmerica in Sellersburg, Indiana, officially becoming part of the network on 6 April 2026. This integration strengthens Sun Auto’s regional presence while bringing new resources to the local shop. Carmerica will retain its full range of automotive services, including tyre replacement, alignments, brake work, oil changes and preventative maintenance, ensuring that loyal customers continue receiving the same trusted care.

Under Sun Auto’s guidance, Carmerica now benefits from enhanced tools such as round the clock online appointment scheduling and digital vehicle inspections. These additions are backed by Sun Auto’s Driver Commitment, which emphasises clarity, confidence and genuine customer care. The acquisition reflects Sun Auto’s broader growth strategy of partnering with established operators in markets with strong long-term potential and easy customer access.

With over 575 locations nationwide, Sun Auto Network stands as one of the largest independent tyre and automotive service platforms in the country. By combining trusted local brands like Carmerica with the scale and support of a national organisation, Sun Auto continues to build a network rooted in both community reputation and operational excellence.

Rob Kingery, Regional Vice President, said, "This acquisition reflects a disciplined approach to expanding in high-opportunity regional markets where we can build density and deliver a consistent, high-quality experience. Sellersburg helps us deepen our presence in Southern Indiana and better support drivers throughout the Greater Louisville area."

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