NEXEN TIRE, the global tyre manufacturer, has reported exceptional financial performance for the first quarter of 2025, with revenues climbing to KRW 771.2 billion and operating profit reaching KRW 40.7 billion. The results represent a 13.7 percent year-on-year increase, setting a new quarterly record for the company and surpassing market expectations.

The South Korean tyre maker's strong showing comes despite ongoing industry challenges, with the company leveraging expanded production capacity and a focus on premium products to drive growth. The Czech plant's phase 2 expansion has significantly boosted output volumes, while increasing demand for larger 18-inch and above tyres has enhanced profit margins.

European operations emerged as the standout performer, generating KRW 316.5 billion in revenue—approximately 41 percent of NEXEN's global sales. The region has benefited from stable replacement tyre demand since late last year, with particular strength in seasonal products including winter and all-weather offerings.

"Despite continued exchange rate swings and uncertainties surrounding tariff policies, our long-term efforts in capacity expansion and brand building are now bearing fruit, allowing us to continue growing," said Travis Kang, Global CEO of NEXEN TIRE.

NEXEN's strategic supply of original equipment tyres to premium European automakers since 2016 has enhanced brand recognition, driving subsequent replacement tyre sales. Meanwhile, normalising freight rates have returned to comparable levels with the same quarter last year, helping reduce the company's freight-to-sales ratio despite persistently high raw material costs.

Looking ahead, the company plans to implement region-specific strategies to navigate economic volatility. In Europe, growth will centre around increased volume and expanded capacity, while the US operation will adopt flexible approaches to counter tariff measures. The Asia-Pacific region, particularly Japan and Australia, will see customer diversification efforts and enhanced local distribution.

NEXEN is also advancing a unified product strategy for both electric and conventional internal combustion vehicles, utilising artificial intelligence and virtual reality in its development processes. Recent in-house testing has validated the superior performance of its tyres across critical metrics including braking, noise reduction and ride comfort.

Kang added, "We will continue to strengthen our worldwide competitiveness by developing customer-focused product strategies and region-specific techniques."

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Maxam Tire has broadened its range of solid skid steer tyres by launching the MS705 NM, a non-marking iteration of its current MS705 model. The new tyre targets construction machinery operated indoors or on surfaces where leaving marks is undesirable.

By pairing the resilience of a solid tyre with a non-marking tread compound, the MS705 NM suits jobs that demand protection for finished flooring and other delicate surfaces. Its solid design removes the risk of punctures and sidewall failures while also doing away with regular air pressure checks, which helps lower maintenance demands.

The tyre incorporates a three-stage, all-rubber build and an aperture sidewall that together produce a gentler ride. Steel ring reinforcement internally works to prevent wheel slip, while a heat-resistant cushion centre compound adds durability for tough applications. With this non-marking option, Maxam now gives customers greater flexibility in matching skid steer tyres to specific jobsite needs.

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Evonik, a global speciality chemicals company, has outlined a three-year strategy to sharpen its focus and accelerate growth, assigning distinct roles across its business portfolio and setting specific tasks for its major German sites. Targeted growth projects are also intended to improve the group's geostrategic balance. To fund these investments, the company is relying on its Evonik Tailor Made restructuring programme to further reduce its cost base. The plan involves cutting 3,200 jobs worldwide, with roughly 2,150 of those losses falling in Germany.

At the annual strategy meeting, the executive and supervisory boards reviewed plans through 2030. Interim CEO Claus Rettig said the industry faces a structural and economic crisis, and Evonik will use this polycrisis to reshape old structures and improve its positioning. Many parts of the business are still growing, so efforts will concentrate on strengths, future topics and lucrative markets, with better cost positions creating room to manoeuvre.

Transformation will proceed at every level. Healthcare and biotechnology projects in Canada and Slovakia, worth several hundred million euros, will strengthen the portfolio, while business units are aligned by role as growth drivers or cash generators. A new business line, Designed Polymer Solutions, bundles growth areas in aerospace, automotive and gas separation, including biogas and hydrogen. Asia and America offer strong opportunities, and further investments there are under review. Each of the six major German sites will receive a clear profile, with implementation starting shortly.

Evonik is also exiting activities with no internal prospects. Rettig said long-term leadership requires leading in what the company does, and volatility demands flexible responses. Closures of smaller sites fit this approach, and divestments of C4 chemicals and infrastructure are progressing as planned. Tailor Made's second phase begins in 2027 and runs to 2029. Measures will be finalised by late 2026, including unfilled vacancies, early retirements and voluntary severance departures. Chief Human Resources Officer Thomas Wessel said Evonik has long lived social responsibility and maintained intensive dialogue with employee representatives, and this transformation will be completed together.

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Continental recently showcased its new TerrainContact A/T2 tyre during a five-day driving event in Iceland, held from 14 to 18 September 2026. Journalists and invited customers tested the tyre across winding roads, rugged highlands, glaciers and volcanic terrain.

Starting at Þingvellir, the group travelled through Iceland's Western Highlands and the Kaldidalur valley, where gravel routes highlighted the tyre's blend of on-road comfort and off-road traction. The TerrainContact A/T2 targets pickup and SUV owners who mainly drive on pavement but require extra grip when conditions change.

Compared with its predecessor, the tyre offers better wet braking and snow traction while preserving a quiet ride and off-road ability. A new tread compound boosts wet performance, greater tread depth aids snow grip, and optimised zig-zag grooves and traction teeth add control on loose or snowy surfaces. It carries the Three-Peak Mountain Snowflake symbol and is engineered with electric vehicles in mind.

Okan Sen, National Marketing Manager, Continental Tire Canada, said, “The TerrainContact A/T2, as one of the best-balanced performance all-terrain tyres in the market, was developed for drivers who want the freedom to explore without compromising their everyday driving experience. Iceland was the perfect setting to bring that versatility to life, giving attendees the opportunity to experience the tire across the kind of changing terrain it was designed to handle.”

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A new Oxford Economics study commissioned by Tyres Europe underscores the tyre sector's vital economic and social contribution, arriving as Brussels shapes its Industrial Accelerator Act to reinforce European industrial competitiveness. The report, titled ‘The Critical Importance of the EU Tyre Industry’, makes the case that EU industrial policy ought to encompass the finished products sustaining Europe's economy and essential services, rather than focusing solely on raw materials and technologies.

Through the lens of tyres, the research maps the relationships between European manufacturing capacity, reliance on external sources and the smooth operation of mobility, freight and public services. It concludes that EU-produced tyres potentially enabled freight, agriculture and passenger transport, directly yielding EUR 1.5 trillion in GDP – 9 percent of the EU's total – and providing work for 30.5 million people, 13 percent of EU employment.

The study further reveals exposure on both sides of the tyre value chain. Imported intermediate inputs constitute 11.9 percent of EU tyre production value, exceeding the EU economy average of 7 percent, while natural rubber supplies depend wholly on imports. In 2024, imported tyres made up 40 percent of newly fitted tyres across the EU, a proportion that continues to climb.

Adam McCarthy, Secretary General, Tyres Europe, said, “Economic resilience depends not only on access to materials but also on retaining the capacity to transform them into safe, advanced products in Europe. The Industrial Accelerator Act is an opportunity to recognise strategically-important finished products and support competitive manufacturing in Europe. A strong EU tyre manufacturing base reduces reliance on external suppliers and helps build a more resilient, competitive automotive value chain.”

Pete Collings, Managing Director, Oxford Economics, said, “Europe’s tyre industry is far more than a manufacturing sector: it is a critical enabler of mobility, trade and wider economic activity. Our analysis shows that EU-produced tyres support hundreds of billions of euros in GDP and millions of jobs across key customer sectors, while the industry itself depends on complex global supply chains. The findings underline the economic value of maintaining a strong European tyre manufacturing base.”

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