Michelin, one of the global leaders in tyre technology, announced a collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT) to launch India’s first AI Startup Challenge. The initiative aims to propel innovation and entrepreneurship in the country’s manufacturing sector.
The challenge was unveiled in the presence of senior DPIIT officials, including Joint Secretary Sanjiv and Director Sumeet Kumar Jarangal. Dr Ambica Rajagopal, Group Chief Data and AI Officer, and Shantanu Deshpande, Managing Director of Michelin India, represented Michelin. A recorded address by DPIIT Secretary Rajesh Kumar Singh emphasised the programme’s significance.
Rajesh Kumar Singh, Secretary of DPIIT, said, “Michelin and Startup India, through the AI Challenge, invite Indian startups to co-build technical solutions using large language models for business use cases. The Michelin AI Startup Challenge offers opportunities to develop solutions in manufacturing, supply chain, operating software, and infrastructure, leveraging AI and robotics to enhance manufacturing processes, improve product quality, boost safety, and reduce defects. This initiative aims to create sustainable products and expose Indian talent to global contexts and clients. I encourage all DPIIT-recognised startups to apply for the programme and wish them the best.”
Sanjiv, Joint Secretary, DPIIT, highlighted the importance of public-private partnerships and the key role that manufacturing companies like Michelin play in bringing the right resources to help elevate the country’s entrepreneurial ecosystem. He also focused on the department’s commitment to empowering startups to scale their innovations and make a lasting impact on a global scale.
Sumeet Kumar Jarangal, Director, DPIIT, spoke about the importance of AI and the government’s focus on advanced manufacturing and automation. He congratulated the Michelin team for developing a programme completely synergistic with the nation’s vision.
The 12-week challenge, hosted on the Startup India portal, invites applications from leading Indian AI startups. Selected participants will receive mentorship and the opportunity to compete at a demo day in Delhi this September. The top eight finalists will pitch their solutions to a panel of judges from Startup India and Michelin India.
The top three startups will be awarded paid pilot projects with Michelin, valued at up to INR 5,00,000 each. Additionally, they will be eligible for long-term global contracts and incubation support from Michelin leadership. The challenge focuses on fostering AI-powered solutions in manufacturing, supply chain management, operational software, and infrastructure development.
Dr Ambica Rajagopal, Michelin Group Chief Data and AI Officer at Michelin India said, “There has never been a more exciting time for startups in the AI world, and we are delighted to contribute significantly to advancing India’s technology sector. It is a proud moment for us to strengthen our commitment to the AI industry in collaboration with the government’s visionary Startup India initiative.”
Commenting on this initiative, Shantanu Deshpande, Managing Director, Michelin India, stated, “At Michelin, we are committed to a greener future where sustainability and innovation are at the forefront of our efforts. We eagerly anticipate the participation of Indian startups in the AI challenge as we co-build global solutions together.”
The initiative will unfold in stages, beginning with outreach and application collection in July. Shortlisted startups will undergo mentorship until September, culminating in a final pitch event.
This 12-week AI Startup Challenge aims to find and support innovative startups in manufacturing. Top winners will receive mentorship, pilot projects, and incubation opportunities. This collaboration aims to bridge the gap between industries and startups, empowering them with AI to become global leaders.
Radar Tires Expands Us Footprint With Two New Distribution Centres
- By TT News
- November 05, 2025
Radar Tires has expanded its US distribution network with the opening of two new domestic distribution centres in Knoxville, Tennessee, and Parkesburg, Pennsylvania, as part of efforts to strengthen product accessibility and service reliability for its growing customer base.
The expansion increases the brand’s domestic distribution centres from one to three. It aims to improve delivery efficiency and inventory availability across key regions, particularly in the Southeast and Northeast of the United States.
“Stocking domestic tyre inventory is a key part of the Radar strategy going forward,” said Rob Montasser, Vice President of Sales for Radar Tires, USA. “It ensures our distributors and retailers have easy access to the products that their customers need, without the long lead times or supply chain uncertainty. These new locations allow us to be faster, more flexible, and more dependable.”
The company said the additional facilities will reduce delivery times and ensure that its core product range remains readily available to meet rising market demand.
With existing operations in Texas, the addition of centres in Tennessee and Pennsylvania underscores Radar Tires’ long-term strategy to enhance supply chain responsiveness and reinforce its position as one of the most customer-focused distribution networks in the tyre industry.
Cabot Corp Posts Lower Quarterly Profit, Sees Subdued Demand Outlook For Fiscal 2026
- By TT News
- November 05, 2025
Cabot Corporation reported lower quarterly earnings, as weaker demand in its Reinforcement Materials segment and softer volumes in Performance Chemicals weighed on results. However, the company ended fiscal 2025 with solid cash flow and continued shareholder returns.
For the fourth quarter ended 30 September, Cabot posted net income of USD 43 million, or USD 0.79 per share, compared with USD 137 million, or USD 2.43 per share, in the same period a year earlier.
Full-year diluted earnings per share were USD 6.02, while adjusted earnings per share rose 3 percent year-on-year to USD 7.25.
“I am very pleased with another strong year of Adjusted EPS growth where we achieved USD 7.25, up 3 percent year over year, in a year with a challenging macroeconomic backdrop,” said Sean Keohane, Cabot’s President and Chief Executive Officer. “This performance was driven by higher EBIT in our Performance Chemicals segment, which increased 18 percent year over year, partially offset by EBIT in our Reinforcement Materials segment, which declined 5 percent.”
Cabot’s revenue for the quarter fell to USD 899 million from USD 1.0 billion a year earlier, while full-year sales declined to USD 3.7 billion from USD 4.0 billion.
The Boston-based speciality chemicals manufacturer said fourth-quarter cash flow from operations totalled USD 219 million, enabling USD 64 million in shareholder returns through dividends and share buybacks. For the full fiscal year, Cabot generated USD 665 million in operating cash flow, funding USD 274 million in capital investments, USD 96 million in dividend payments and USD 168 million in share repurchases.
Keohane said the company’s balance sheet remained strong, with a net debt-to-EBITDA ratio of 1.2 times, providing flexibility to invest in growth while continuing to return capital to shareholders.
The company’s Reinforcement Materials segment reported a USD 4 million decline in EBIT from the prior-year quarter, reflecting lower volumes in the Americas and Asia Pacific, partly offset by cost efficiencies. Global volumes fell 5 percent, including a 7 percent drop in the Americas, where lower tyre production by customers was attributed to increased Asian tyre imports.
Performance Chemicals EBIT decreased USD 2 million year-over-year, mainly due to a 5 percent drop in volumes led by weaker demand in Europe, particularly from construction-related applications.
Cabot ended the quarter with percent 258 million in cash and spent percent 64 million on capital expenditures. The company recorded a 55 percent effective tax rate in the fourth quarter and an operating tax rate of 27 percent for fiscal 2025.
Looking ahead, Keohane cautioned that market conditions remain challenging, particularly in the Reinforcement Materials sector. “We do not yet see signs of improvement in the external environment, particularly as it relates to regional demand trends in Reinforcement Materials due to the impact of elevated Asian tire imports into western regions,” he said.
The company anticipates improvement in Performance Chemicals, led by growth in battery materials and infrastructure-related applications, while maintaining strong cash flow to support investment and shareholder returns.
“While market conditions remain challenging, we continue to execute on our foundation of commercial and operational excellence, and we remain focused on managing costs, strengthening operations, and positioning the company for long-term growth,” Keohane said.
In fiscal 2025, Cabot also announced an agreement to acquire Bridgestone Corporation’s reinforcing carbons plant in Mexico and released its 2024 Sustainability Report, noting it had achieved 11 of its 15 sustainability goals ahead of schedule and established new 2030 targets.
wdk Hails 'Berlin Declaration' As Vital For German Industry And Jobs
- By TT News
- November 05, 2025
The German Rubber Industry Association (wdk) has responded positively to the 'Berlin Declaration’, characterising it as an essential and long-awaited political signal. From the wdk's perspective, the declaration represents a crucial commitment from the ‘Friends of Industry’ to bolster the manufacturing sector, which is fundamental to preserving Germany's industrial core and the multitude of upstream and downstream jobs it sustains. The association's Managing Director, Boris Engelhardt, emphasised that this initiative correctly identifies the urgent need for Europe to recognise and champion industrial value creation.
The wdk finds it particularly significant that the impetus for this declaration originated from a coalition of 17 member states, a fact that underscores a shared political priority independent of the EU Commission's agenda. While the declaration's broad framework allows for various interpretations, the wdk has identified the reduction of bureaucratic burdens as its paramount objective. On this specific point, the association reports being in complete alignment with Federal Minister for Economic Affairs Katherina Reiche. The wdk now asserts that the true measure of the declaration's success will lie in its translation from a political statement into actionable policy, urging the addressed EU institutions to move beyond acknowledgment and proceed with swift and decisive implementation.
Japan’s Zeon Lifts Full-Year Profit Outlook On Strong Battery Materials, Optical Films Demand
- By TT News
- November 04, 2025
Japanese chemicals maker Zeon Corporation raised its full-year operating profit forecast after first-quarter earnings more than doubled, driven by robust demand for battery materials and optical films.
The Tokyo-based company, which produces speciality plastics and synthetic rubbers, posted operating income of 12.1 billion yen ($83.3 million) for the three months to June 30, up 136 percent from the previous quarter and 59 percent higher year-on-year.
Net sales declined 2 percent to 103.1 billion yen from a year earlier, affected by yen appreciation and lower elastomer prices reflecting declining raw material costs. However, sales volumes of optical films and battery materials increased during the period.
The company revised its full-year operating income forecast upwards to 30.5 billion yen from a previous estimate of 28 billion yen. However, this still represents a 9 percent decline from the prior year. Full-year sales are now expected to reach 415 billion yen, up 4 percent.
Zeon maintained its annual dividend forecast at 72 yen per share and said it is proceeding with a share buyback programme of up to 10 million shares or 10 billion yen for the current fiscal year.
The speciality materials business, which includes optical plastics, films and battery materials, generated operating income of 7.4 billion yen in the first quarter, jumping 40 percent year-on-year. Sales in the division fell 3 percent to 29.3 billion yen, partly due to timing differences at overseas affiliates related to the Chinese New Year.
Demand for battery materials remained steady, supported by China’s electric vehicle subsidy policies, whilst shipments to the United States energy storage systems market began during the quarter. The company said European EV sales showed signs of recovery, though inventory adjustments were prolonged.
In optical films, shipments increased due to expanded market share in large-sized televisions, whilst demand remained steady for tablet and smartphone applications.
The elastomer business posted operating income of 4.2 billion yen, up 12 percent from a year earlier, though sales were flat at 58.1 billion yen. The division was affected by weak overseas demand and lower selling prices caused by falling raw material costs.
Zeon also announced plans to sell a portion of its investment securities between August 2025 and March 2026, expecting to book a gain of approximately 10.9 billion yen to improve capital efficiency. The move is expected to reduce its cross-shareholdings ratio to around 11-12 percent of net assets by the end of the fiscal year.
The company said it had completed a reorganisation in June, transferring its chemicals business to the speciality materials division to accelerate decision-making and maximise profitability.
For the second half of the year, Zeon cautioned that optical film shipments are expected to decline due to panel production adjustments and seasonal mobile device demand. However, it described the adjustment as temporary with growth anticipated in fiscal 2026.
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