Linglong Tire, a leading Chinese tyre manufacturer, plans to establish a factory in Kenya serving the African continent, President William Ruto said after meeting with company Chairperson Wang Feng.

Ruto, in his twit, said that Kenya continues positioning itself as a premier foreign investment destination, offering competitive incentives to enhance investor confidence. The proposed manufacturing plant aligns with government strategies to attract international business.

The facility is expected to generate thousands of local jobs and expand Linglong's manufacturing presence in Africa

No financial details of the investment were immediately disclosed.

Bridgestone EMEA has unveiled a leadership transition, with Laurent Dartoux, Group President of Bridgestone EMEA and Vice President and Senior Officer of Bridgestone Corporation, set to retire.

Dartoux will remain in an advisory role until 31 March 2025 to ensure a seamless handover, the company said in a statement.

Effective 1 February 2025, Mete Ekin will assume the role of Group President of Bridgestone EMEA. Ekin, a nearly 30-year veteran of the tyre industry, joined Bridgestone’s Joint Global COO Office in 2023 after leading sales teams across the Middle East and Africa.

He currently serves as President of Core Tire Europe, a position he took up in 2024.

In his new role, Ekin will lead the Bridgestone EMEA Management Board and report directly to Scott Damon, CEO of Bridgestone West, which oversees operations in the Americas, Europe, Middle East and Africa.

Dartoux, who joined Bridgestone EMEA in 2014, has been credited with steering the region through the global pandemic and other significant challenges. During his tenure, the company advanced its sustainability goals, though specific details on progress were not disclosed.

"We are deeply grateful for Laurent's contributions and thoughtful leadership throughout his career at Bridgestone," said Scott Damon, CEO of Bridgestone West and Group President of Bridgestone Americas. "We extend our heartfelt thanks to Laurent for his dedication and leadership and wish him all the best in his retirement. We also look forward to Mete's leadership. His extensive experience and strategic vision make him the ideal leader to guide Bridgestone EMEA into its next chapter."

"I would like to express my sincere gratitude to Laurent for his leadership and for overcoming various important challenges in the EMEA region over the past 10 years,” said Shu Ishibashi, Global CEO of Bridgestone Corporation. “His contributions will serve as our cornerstone for growth as we enter the next chapter under Mete’s leadership.”

Mumbai-headquartered diversified, multi-product, multi-fuel company Greaves Cotton has appointed Parag Satpute as the new Managing Director (MD) and Group CEO. In his new role, he will be responsible for Greaves Engineering, Greaves Retail, Greaves Finance, Greaves Technologies and Excel Controlinkage.

Satpute an automotive industry veteran brings with him over 29 years of experience and last held the position as the President of Bridgestone’s Fleet Business in Europe within the Global Business Unit Bridgestone Mobility Solutions. Prior to that he had led Bridgestone India as the MD.

He started his career with Sandvik as a Product Manager in 1997, and by 2014, he had become MD and Chairman of the Board (subsidiaries) for India operations.

He holds a Mechanical Engineering degree from Pune University and an Executive MBA from Warwick Business School.

China National Tire & Rubber Co. plans to invest in Egypt, expanding its current operations with two key projects, Egyptian Prime Minister Mostafa Madbouly announced after meeting with company executives.

The company will double heavy-duty tyres production at its Alexandria factory and establish a new passenger car tyre manufacturing facility on an adjacent 180,000-square-metre plot. Its current factory produces 1.1 million heavy-duty tyres annually, exporting 70 per cent of its output and employing 2,000 workers.

Government officials, including Deputy Prime Minister Kamel El-Wazir, expressed support for the expansion, providing comprehensive market data and investment incentives. Wang Jijun, the company’s chairman, described the investment outlook as “very positive.”

The projects aim to address local market demand, with most passenger car tyres currently imported. The Egyptian government has pledged to facilitate swift project execution and provide necessary support.

In this regard, Wang Jijun said: “We will work diligently to expedite the implementation of our upcoming investment plan in Egypt,” adding: “After our meeting with the Prime Minister, our confidence in the Egyptian market has increased.”

He added: “We hope you will return to us with the studies related to the two projects as soon as possible, and we will witness the signing of the final contracts for the two projects soon.”

He continued: “Regarding the land adjacent to the factory, where the passenger car tyre manufacturing activity will be established, we are open to all options, whether through establishing a partnership between the government, via the Ministry of Public Business Sector, and the company, or through the company purchasing the land.”

Orion S.A., a global speciality chemicals company, announced a preliminary unaudited financial update for its fiscal year ending December 31, 2024.

Orion now expects 2024 adjusted EBITDA to be nominally below our guidance range of USD 305- USD 315 million, due primarily to foreign exchange translation impacts related to the strengthening dollar and one-time costs associated with a cost reduction plan.

Weaker than anticipated Rubber segment volumes late in the fourth quarter and a slightly less favourable Specialty segment mix were also factors and would have positioned the company at the lower end of guidance, excluding the items noted above. In the fourth quarter, Orion commenced an initiative to reduce its non-plant workforce by around six percent and expects to realise approximately USD 6 million in annualised cost savings in 2025.

“We believe the Rubber demand softness we experienced late in the year reflects continued pressure on Western tyre production resulting from elevated levels of tyre imports into North America and Europe, respectively, from Southeast Asia and China, as well as some year-end inventory adjustments at certain key customers,” said Corning Painter, Orion’s Chief Executive Officer.

“Despite stepped-up tyre imports into our key geographic markets, we believe the outcome of our Rubber segment’s commercial strategy positions us well for 2025, and for when trade flows rebalance within the global tyre market.”

Painter added, “Regardless, we initiated discrete cost reduction actions in the fourth quarter of 2024, which we expect to substantially complete in the first quarter of 2025. Overall, based on factors within Orion’s control and despite the strengthening FX headwind, we continue to expect modest growth in 2025, building upon the structurally improved returns our company has generated over the past several years.”

Orion said these expected financial results are preliminary and unaudited, have not been reviewed by the company’s independent registered public accountants, and remain subject to the completion of normal year-end accounting procedures and adjustments and are therefore subject to change.