French tyre maker Michelin reported sales of €27.2 billion in 2024, down 4.1 percent from €28.3 billion in 2023, demonstrating resilience in a challenging market environment marked by declining volumes and currency headwinds. The company achieved a segment operating income of €3.4 billion with a 12.4 percent margin, while generating a net income of €1.9 billion. The board has proposed a dividend of €1.38 per share for shareholders.

Managing Chairman Florent Menegaux stated: "Our 2024 results are solid, despite a particularly unstable economic and geopolitical context. To maintain our competitiveness, we also had to make difficult industrial restructuring decisions in Poland, China, Sri Lanka and France. Michelin continues to implement its 'Michelin in Motion 2030' strategy".

In the Automotive and Two-wheel segment, Michelin recorded sales of €14.7 billion, representing a 1.3 percent decline, while maintaining a strong operating margin of 13.1 percent. The segment demonstrated robust performance in the premium category, with MICHELIN-branded Passenger car tyre sales reaching 65 percent in the 18-inch and larger tyre segment.

The Road Transportation division witnessed sales of €6.6 billion, declining 4.9 percent year-on-year. However, the segment showed significant improvement in operating margin, which rose to 9.0 percent from 6.8 percent in the previous year. The division's Connected Solutions business, under the MICHELIN Connected Fleets brand, continued to expand successfully.

The Specialties business recorded sales of €5.9 billion, marking a 9.4 percent decrease, with an operating margin of 14.6 percent. While the mining tyre business faced temporary challenges, it maintained its market share, and the aircraft tyre segment demonstrated positive growth momentum.

In terms of regional performance, Europe's replacement tyre market grew by 9 percent, despite a 7 percent decline in passenger vehicle Original Equipment and a 20 percent drop in trucks. North America showed resilience with a 2 percent growth in the replacement market, while experiencing declines of 2 percent and 11 percent in passenger and truck Original Equipment segments respectively. The Chinese market contracted by 5 percent overall, though Original Equipment grew by 3 percent in passenger vehicles.

Michelin has undertaken significant strategic initiatives in 2024, including manufacturing network optimisation through plant conversions in Olsztyn (Poland) and Shenyang (China), while announcing the closure of operations in Cholet (France) and the sale of Sri Lanka plants to CEAT Group. The company launched the innovative BioButterfly project for bio-based butadiene production and partnered with Microsoft for energy optimisation across its facilities.

On the financial front, Michelin executed a €1 billion bond issue in two tranches and announced a €1 billion share buyback programme for 2024-2026. The company's strong financial position was recognised with a credit rating upgrade to A2 by Moody's.

Looking ahead to 2025, Michelin anticipates slight market growth, though with a decline in the first half due to lower Original Equipment demand. The company expects to improve its segment operating income at constant exchange rates and generate free cash flow before acquisitions exceeding €1.7 billion.

Apollo Tyres Ltd has launched the Vredestein Superpasso Pro competition-ready road bicycle tyres. This is the first model in the company’s all-new range of high-performance bicycle tyres scheduled for launch throughout the coming year.

The Superpasso Pro was developed using Apollo Tyres' cutting-edge ‘TriComp’ technology in Europe, which combines several rubber compositions for the tread and sidewall to maximise rolling resistance, puncture prevention and traction in both wet and dry situations. While the tyre's shoulder is composed of a softer composition to improve cornering grip at all speeds, the centre of the tread features a tougher compound to reduce rolling resistance and to prevent penetration. The new Superpasso Pro achieves a 14 percent improvement in rolling resistance, a 23 percent increase in puncture resistance and an eight percent weight reduction when compared to its Vredestein predecessor.

For TLR tyres, the new ‘Active Control’ technology offers a novel design that substitutes a bridging gap for the conventional overlapping centre join. Because of this development, the tyre is lighter and quicker, offering better control, better feedback and unwavering comfort. In order to increase puncture resistance and provide consumers the assurance that they can go farther, the Vredestein tyre also has a reinforced breaker layer. As part of a business collaboration with Apollo Tyres, the Dutch professional cycling team BEAT Cycling Club has put the Superpasso Pro through a rigorous testing process. Three sizes of the new Vredestein tyre are available: 700x25C, 700x28C and 700x32C. Both tubeless-ready (TLR) and tube type choices are available.

Nic Knippers, Division Head – Vredestein Two Wheel Tyres, Apollo Tyres Ltd, said, “The Superpasso Pro represents a significant leap forward in tyre technology, offering cyclists a product that excels in both performance and durability. With its innovative design and advanced materials, it delivers unmatched speed, comfort and reliability for cyclists of all levels.”

Thijs Zonneveld, Sportive Director, BEAT Cycling Club, said, “As a team that consistently pushes the limits of performance, we’ve been thoroughly impressed by the Superpasso Pro. The advancements in rolling efficiency, grip and durability have been evident in both race-day conditions and intense training sessions, and we’re excited to continue using it in competition.”

Bridgestone India has expanded its Flagship Select Store network with the opening of four new Select outlets in Hyderabad. With these new outlets, the company has taken its tally of stores in Hyderabad to 46 with an aim to transform the tyre buying and servicing experience by addressing the evolving needs of Indian consumers.

The Bridgestone Select Stores, which are supported by a robust premium network, offer an engaging and instructive experience that enables consumers to choose tyres with knowledge. To assist consumers get the most out of their tyres, the business also gives demos so they can see the impact that each service offers. At the moment, Bridgestone has a strong dealer network of 3,200, which includes 820 Bridgestone Select stores in India. Bridgestone India operates a few select storefronts in important cities including New Delhi, Ghaziabad, Bangalore, Kolhapur, Chennai and Hyderabad. The Select shops are designed to address a long-standing demand for a more intelligent tyre retail structure.

Hiroshi Yoshizane, Managing Director, Bridgestone India, said, “Hyderabad is an important market for us, and we’re proud to expand this pioneering concept of Select stores in the city. Bridgestone is committed to provide superior products and services to customers in line with its mission of serving society with superior quality. At Bridgestone, we’ve consistently led in enhancing customer experience, and these stores will help customers in Hyderabad to make informed tyre choices tailored to their needs. It also offers our dealers a unique, differentiated format to drive more walk-ins. As tyres are the only point of contact between a vehicle and the road, the store is designed to offer customers premium products, services and an elevated buying experience through its exclusive network.”

Premium tyre manufacturer Hankook Tire’s associate brand Laufenn is celebrating 10-year milestone of the brand’s presence in Europe.

The brand started with passenger car tyres since 2015 and added commercial vehicle treads to its portfolio five years later. Laufenn today boasts market presence in over 100 countries, offering passenger car tyres in 341 sizes along with a commercial vehicle portfolio of 18 sizes. Hankook intends to boost marketing expenditures in order to raise awareness of its Laufenn brand. In addition, a new generation of passenger car treads for the summer and winter will soon be introduced. Laufenn will increase its market share and supply original equipment tyres to a European automaker in 2025, in addition to its current offering in the passenger car replacement market. Laufenn has also been an official sponsor of the UEFA Europa Conference League since the 2021/22 season, further emphasising its position in strategically important sales markets.

Laufenn first made its foray into the market with performance and touring summer tyres for passenger automobiles. The X Fit Van summer tyre for SUVs and passenger vehicles, as well as the i Fit, the first winter tyre for SUVs and passenger cars in Western and Central Europe, came next. The i Fit ICE, a studded winter tyre for passenger automobiles and SUVs, marked Laufenn's entry into the Northern and Eastern European markets over the ensuing time frame. All-season tyres are now part of the range in addition to summer and winter tyres. Laufenn unveiled the improved summer tyres S FIT EQ+ and G FIT EQ+ in 2020. Laufenn's total market share in Europe has increased fourfold since its launch.

Laufenn is also commemorating a significant milestone in the commercial vehicle tyre industry: the company has been providing truck, bus, and trailer treads throughout Europe for five years. In 2025, the 18 sizes that are now available in the commercial vehicle portfolio will be expanded to include additional sizes, beginning with the trailer tyres LF95 and LR02, which are 265/70 R19.5.

In an effort to further innovate the truck market, Laufenn is this year launching ‘Laufenn365’, a new digital platform that will make it easier to resolve unintentional damage claims for the company's commercial vehicle tyres and provide clients with additional insurance against unforeseen expenses. Initially, this platform will be available in the United Kingdom. Laufenn intends to reach further European markets with its smart product and tyre warranty. The launch of another affiliate brand, Optimo, is a recent illustration of Hankook's strategic brand growth. Optimo serves a market niche with increasing demand for passenger automobiles and enhances Hankook's sibling and premium brands.

Jongho Park, President and Chief Operating Officer, Hankook Tire Europe, said, “With our associate brand Laufenn, we offer tyres that deliver excellent value for money without compromising on safety, reliability and quality. Customers benefit from the many years of experience of the Hankook brand and get a product that meets the highest standards. This allows us to create a win-win situation in every respect.”

Jang Hyuk Moon, Vice President – Marketing Department, Hankook Tire Europe, said, “Laufenn has established itself as a strong associate brand to Hankook with a steadily expanding portfolio and growing international presence. The brand will continue to focus on quality and customer relationships in order to further build on its success.”

The International Institute of Synthetic Rubber Producers (IISRP) has elected Douglas Wilson as its President-International for the year 2025–2026 at the association’s 65th Annual General Meeting on April 9, 2025. Wilson replaces Zhuang Yi of Sinopec, who became the Institute's Past President-International.

Wilson is now in charge of P&L for every facet of LCY's Styrenic Block Copolymer business in North and South America, including the Baytown SBS production facility, as the General Manager of the Americas business for LCY Elastomers LP. After 22 years at Honeywell International, Wilson served as Global Business Director for Vertellus (now Aurorium) for five years in the Polyether Sulfones, Citrates and Additives business until joining LCY in 2023. Wilson served as the Global Business Leader for two distinct divisions at Honeywell. He started up as the head of Honeywell's nylon-based film and active resins division, which supplied materials for composites and food and industrial packaging. Later on, he oversaw Honeywell's Research Chemicals division, which included integrating a USD 120 million purchase.

In addition to Wilson, the other members elected to the association’s Executive Committee for the year 2025–2026 include Masayoshi Iwasa of Asahi Kasei Corporation as President of the Asia Pacific Section and member of the FPAC; Giovanni Cassuti of Versalis as EMEA Section Vice-President; Brian Chapman of Kuraray Americas as Member of the FPAC; Shiga Satoru of ENEOS Materials as Vice-President of the Asia Pacific Section; Robert Rikhoff of Lion Elastomers as President of the Americas Section; Zhuang Yi of Sinopec as past President-International and Roxanna Petrovic of IISRP as Managing Director, Assistant Treasurer and Recording Secretary.