Michelin today announced the launch of its new employee share ownership plan, BIB’Action 2024, open to its 127,000 employees across 44 countries. The company has consistently offered employee share ownership plans since 2002 and affirms its desire to renew the plans annually.

The offering will be made through rights issue of 7,000,000 shares and will benefit employees of Group companies who are members of the Michelin Group Employee Shareholder Plan, irrespective of the nature of their employment contract, and who meet a seniority requirement of at least three months at the opening date of the subscription period. Each employee may acquire up to 2,000 shares under the plan, within the legal limit of a maximum subscription amount pursuant to the local country regulations.

The subscription period will run from 11 to 26 September 2024 (inclusive) and the subscription price has been set at EUR 28.08, which is equal to 80 percent of the reference price (corresponding to the average of the opening prices quoted for Michelin shares on Euronext Paris over the 20 trading days preceding the date on which the subscription price is set).

Employees who subscribe to the 2024 BIB'Action plan may exercise their voting rights at the shareholders meeting to be held in May 2025 and will receive the 2024 dividend as approved in that meeting.

Yves Chapot, General Manager and Chief Financial Officer, Michelin, commented, “Strengthening employee share ownership within the Michelin Group is a priority. By increasing the percentage of capital held by employees, we are highlighting the unique and crucial role of each individual in implementing our strategy. By becoming shareholders, employees can participate in the Group’s value creation and enjoy the benefits, both as employees and as shareholders.”

The following points elaborate the plan proposed by Michelin:

1. Up to the first five shares subscribed, the Group contributes two free shares for every share subscribed.
2. From six to 15 shares subscribed, the Group contributes one free share for every share subscribed.
3. From 16 to 65 shares subscribed, the Group contributes one free share for every five shares subscribed.
4. Beyond the 65th share subscribed, no further free shares are contributed by Michelin but the 20 percent discount is maintained.

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Apollo Tyres, one of the leading tyre makers in the country, has extended its strategic partnership with Manchester United Football Club, one of the world’s most iconic football teams, for an additional three years.

The partners stated that the renewal of the enduring partnership highlights a mutual commitment to excellence, innovation and shared values. This 12-year alliance has been instrumental in connecting both entities with millions of passionate fans globally, yielding highly engaging campaigns and delivering significant value, both in the realm of sport and business.

Since its inception, the partnership Apollo Tyres' stated has propelled its brand equity, leveraging Manchester United's unparalleled global visibility and deep emotional connection with its loyal fanbase. This association has not only bolstered Apollo Tyres' reputation and amplified consumer trust but also solidified its standing as a premier tyre manufacturer.

The renewal follows the recent visit of Manchester United's first-team players, Andre Onana, Diogo Dalot and Harry Maguire, to Mumbai. Their visit marked the official launch and commencement of activities for the fifth season of the ‘United We Play’ programme, providing an opportunity for direct engagement with fans in India.

Neeraj Kanwar, Vice Chairman and MD, Apollo Tyres, said, “We are thrilled to continue our association with Manchester United, a club that embodies passion, performance and global reach. Our partnership has been instrumental in amplifying our brand equity by aligning with a club that represents passion and perseverance. Together we will strive to create even more exciting experiences for fans, leverage new opportunities in digital and on-ground engagement, and strengthen our brand presence across key markets. We are also excited to expand our impact through a grassroots football initiative that aims to nurture young talent and promote access to the sport at the community level.”

Omar Berrada, CEO, Manchester United, added, “We are delighted to extend our successful partnership with Apollo Tyres, a valued and long-standing member of the Manchester United family. During our 12-year relationship, we’ve not only created impactful global campaigns but also delivered meaningful initiatives at the grassroots level, from youth development to sustainable infrastructure.”

“As we move into this next chapter, we look forward to continuing on our shared legacy -- driving further engagement with our fans around the world and creating lasting value both on and off the pitch,” added Berrada.

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Nokian Tyres plc has been awarded the prestigious Key Flag symbol by the Association for Finnish Work for its flagship Hakkapeliitta winter tyres and Hakka summer tyres.

The Key Flag, a nationally recognised emblem, is granted to products manufactured or services produced in Finland that contain a minimum of 50% domestic content based on break-even cost.

“We are proud of our Finnish heritage and our northern knowhow which is represented in our premium Nokian Tyres Hakkapeliitta and Nokian Tyres Hakka products,” said Ville Nikkola, Head of Sales, Finland at Nokian Tyres. “The Key Flag symbol is a sign of Finnish work and very well known among consumers. We are extremely happy to be able to present it next to our tyres manufactured in Finland for Nordic drivers.”

The Hakkapeliitta winter tyres and Hakka summer tyres are both developed and produced at Nokian Tyres’ factory in Nokia, Finland. The company’s global research and development centre is also located at the site, and both products undergo rigorous testing in Finland, including winter trials at the Ivalo test facility in Lapland.

This recognition is the latest in a series of Finnish quality accolades for the company. Nokian Tyres has previously received the Key Flag for its heavy machinery tyres, wheels, and retreading materials. Additionally, its truck and bus tyres carry the Design from Finland label, underlining their Finnish design pedigree.

Founded in 1898, Nokian Tyres began manufacturing tyres in 1932. The company introduced the world’s first winter tyre in 1934, followed by the first Hakkapeliitta-branded passenger car winter tyre in 1936. Since then, the brand has become a hallmark of Nordic winter driving.

“The Nokian Tyres Hakkapeliitta winter tyres, as well as the Nokian Tyres Hakka summer tyres,, are designed to withstand the challenges of their northern home: the harsh winters with ice and snow as well as the summer months from the first sub-zero mornings of the spring to the heavy rainfalls of autumn,” Nikkola added.

Nokian Tyres emphasised that both product lines are still made in the same factory in Nokia as their early predecessors. Over the decades, the plant has been modernised and now runs on electricity sourced entirely from CO2-free sources. Most of the steam used in the facility also comes from CO2-free fuels. Since 2015, the factory has sent no waste from tyre production to landfill.

The company has further strengthened its sustainability credentials by obtaining the International Sustainability and Carbon Certification (ISCC) PLUS for the Nokia passenger car tyre plant. The certification enables the integration of sustainable raw materials into tyre production at the facility.

“The Nokian Tyres Hakkapeliitta winter tyres are already a legend of Nordic winter roads and are, just like the Nokian Tyres Hakka summer tyres, still made within the same factory walls in Nokia as their predecessors in the 1930s,” Nikkola concluded.

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Hankook Tire is gearing up to electrify the 2024/2025 ABB FIA Formula E World Championship as the series returns to Jakarta on 21 June for Round 12 of Season 11.

After a one-year absence, the Jakarta International E-Prix Circuit (JIEC) will once again host the high-speed spectacle, set against the vibrant backdrop of Ancol’s shoreline. The 2.37-km track, celebrated since its debut in Season 8, blends high-speed straights, sweeping turns and a technical final section – inspired by the rhythmic flow of Java’s traditional Kuda Lumping dance. The challenging layout, combined with Jakarta’s intense tropical heat, will test drivers’ skill, endurance and tyre strategy to the limit. Powering every team will be Hankook’s GEN3 Evo iON Race tyre, purpose-built for Formula E’s cutting-edge electric race cars. Its advanced tread design and specialised rubber compound ensure superior grip, stability and heat resistance – key to handling Jakarta’s demanding conditions.

Sustainability remains a core focus, with the tyre incorporating 35 percent eco-friendly materials, including natural rubber and recycled fibres. Designed for extended durability, each tyre is fully recovered post-race and processed through Hankook’s recycling programme, reinforcing the brand’s commitment to reducing motorsport’s environmental footprint while pushing the boundaries of electric racing performance.

Maximilian Günther, the DS Penske driver and winner of 2023 Gulavit Jakarta E-Prix (Race 10), and most recently, the 2025 Jeddah E-Prix (Race 3) and 2025 Hankook Shanghai E-Prix (Race 10), said, “Jakarta delivers a unique blend of technical complexity and extreme climate. It’s a true proving ground for drivers and tire management. The enhanced grip of the GEN3 Evo iON Race tyre allows us to push harder through technical sectors without sacrificing traction. We’ve already observed gains during simulator sessions, and we’re optimistic about translating that into on-track performance.”

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The Yokohama Rubber Co., Ltd. has signed a Mizuho Eco Finance (Mizuho Environmentally Conscious Finance) loan agreement with Mizuho Bank, Ltd. on 17 June, reinforcing the company’s dedication to sustainable growth and decarbonisation.

This environmentally conscious financing programme supports companies transitioning to a decarbonised society by evaluating their climate-related initiatives and disclosures. Yokohama Rubber qualified for the loan after achieving high scores in Mizuho Bank’s environmental assessment, which examines corporate efforts in emissions transparency, greenhouse gas reduction and long-term sustainability goals.

The company has committed to reducing CO₂ emissions by 40 percent by 2030 (compared to 2019 levels) and achieving carbon neutrality by 2050. These targets, along with Yokohama Rubber’s focus on emissions reduction across its supply chain, contributed to its strong evaluation. Under its sustainability slogan, ‘Caring for the Future’, the company integrates social responsibility into its business strategy, aiming to create shared value by addressing global environmental challenges.

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