After the completion of a reorganisation process, Nynas, a Swedish manufacturer of speciality naphthenic oils and bitumen products, aims at increasing its market share globally with the continuous focus on its core business. Now the company has a strong balance sheet with a 5-year secured financing.  Bo Askvik, Nynas President & CEO, in an interview with Sharad Matade, said, “We have long-term financing in place, giving us the necessary financing to build volumes and increase sales turnover. With the current financial position, we are now focusing on taking back market share across all our different segments and businesses. The reorganisation also required us to focus on the things we were managing and better control the business.  We are now back in the normalised operational mode that enables us to focus on supply reliability.” He also shared his view on opportunities in new mobility and lowering the supply of Group I base oils.

Last year was a challenging year for Nynas. The company went through a reorganisation process amid pandemic challenges. In January this year, the reorganisation was formally completed. Recalling last year’s challenges, Bo Askvik, Nynas President & CEO, said, “Like many other industries, we were impacted by the slowdown due to the global pandemic. The reorganisation process which was in place all of last year restricted our possibilities of supply somewhat. But we managed to maintain most supplies for our customers and operations during the last year.”

Surprisingly, Nynas managed to do better- than -the industry in 2020. The tyre oil industry, as per a report, had a volume loss of around 14 percent across all segments, whereas the company’s sales were down by six and a half percent in the comparable geographic regions. In the Asian region, Nynas managed to maintain its 2019 sales level, while sales in central Eastern Europe, Middle East, India, and Africa witnessed an uptick.

Askvik said, however, though Nynas may not witness sales of the pre-pandemic levels this year, the company, with its long-term business plans, will continue to focus on its core products to support the growth of the industry.

Nynas AB is a Swedish manufacturer of specialty naphthenic oils and bitumen products. It produces bitumen for paving and industrial applications, transformer oils, base oils, process oils, and tyre and rubber oils. The company has three refineries under its own management – in Nynäshamn and Gothenburg in Sweden, and in Harburg Germany and a bitumen refinery in the UK operated as a 50/50 joint venture between Nynas and Shell, as well as application labs for bitumen, greases, adhesives, rubber and the electrical industry.

In 2017, the US imposed sanctions on Nynas, and additional sanctions in 2019 restricted the company to procure heavy crude oil from Venezuela. Nynas applied for company reorganisation on December 13, 2019, after its banks did not extend the loans. The US lifted sanctions on Nynas AB in May 2020 after the ownership restructuring, which resulted in Petróleos de Venezuela SA’s stake reducing from 50 percent to 15 percent.  An independent Swedish foundation now controls the divested stake.

The reorganisation somehow proved to be a boon for Nynas. The Swedish company is now no longer restricted by the reorganisation regulations and can again hedge oil prices and currency exposures. The company reached a composition agreement with the creditors resulting in a 5-year secured financing and a strong balance sheet. The company has already obtained the necessary permits from the authorities needed for running new feedstocks, which secure supply.

“Now we have a solid balance sheet, much stronger than what Nynas had for many years. We have long-term financing in place, giving us the necessary financing to build volumes and increase sales turnover. With the current financial position, we are now focusing on taking back market share across all our different segments and businesses. The reorganisation also enabled us to focus on the things we were managing and better control the business.  We are now back in the normalised operational mode that enables us to focus on supply reliability. And that’s what customers are looking for. Now we have the same challenges the industry is facing at large, which is COVID-19,” said Askvik.

Despite the challenging time, Nynas remained aggressive on product launches to cater to its customers and markets worldwide. Askvik added, “We launched a series of new products, including the biobased products, and improved our existing products. So, we never lost our focus on developing the business.”

Askvik attributes the successful reorganisation to the company brand, loyal customers, and employees.

Disruptions in shipments is also another major challenge for any company in the current circumstance. Shipment durations have gone up with increasing costs. However, Nynas has always been at the forefront to have a superior supply chain worldwide to serve its customers. Currently, it has 44 depots globally, of which Antwerp, Houston and Singapore are central storage facilities and blending stations. “We have a firm base in the supply chain structure. We focus on how we can be most efficient and maximise shipments to reduce costs per tonne,” said Askvik.

Growing demand for technical higher refined base oils and increasing production cost are accelerating the closure of traditional Group I plants. In 2011, Group I represented about 57% of base oil production capacity, which had dropped to 37% in 2019. However, for tyre  applications, highly refined paraffinic Group II and III oils cannot substitute Group I and it´s derivatives due to limitations in viscosity range and chemical composition differences. “Naphthenic oils provide the solvency and polymer compatibility that group II and group III base oil cannot provide,” explained Askvik. “We always look at bringing value to the tyre and rubber applications”.

The Nynas executive sees that the faster-than-expected adoption of electrification will bring more business opportunities to the company. Though the number of rubber and oil products will reduce in EVs, Nynas bets on its solutions for lubricating greases and metalworking fluids for the different parts in the EVs. “We see a balanced substitution in the electrification of vehicles. Of course, electric vehicles will still be needing tyres for the foreseeable future. Apart from that, we must bear in mind that there are two types of batteries in electric vehicles. You still have a starter battery of the ICE vehicles in the electric vehicles. Where again, our naphthenic oils are an excellent tool to control both, the production as well as the properties of the isolating membranes used in that type of batteries,” said Askvik.

Increasing demand for lower rolling resistance in tyres, which leads to improving fuel economy and reducing CO2 emission, for ICE-driven engine vehicles will extend to electric vehicles as well, said Askvik. “Another element where we have good offering is when it comes to winter performance. That’s a core value of all our products with their performance in lower temperatures.”

To meet the demand for non-mineral oil-based products, Nynas introduced NYTEX BIO 6200, the company’s first tyre and rubber process oil to be produced using renewable feedstock to support its customers reaching their sustainability goals without sacrificing critical technical properties. “When we developed this bio-based tyre oil, we did not want to compromise on the things that Nynas stands for, and that are quality, consistency and performance. We are, I think, one of the few truly global tyre oil suppliers that understand the requirement for consistent quality. NYTEX BIO 6200 is a product that combines all the key benefits of naphthenic oil with low rolling resistance and the winter performance with the bio base component,” explained Askvik.

In the future, Nynas will continue to focus on sustainable products and regulatory demand for safe tyre oils and substitution for Group I oil products. Region-wise, Askvik bets high on the APAC region, a hub of tyre and vehicle manufacturing. “ For us, we will continue to focus on product development to launch new products and increase the performance of our existing products.  We are into niche segment whereas, for our competitors, tyre oils and bitumen are very small part of their business. We offer the customer our technical competence and help them improve their products and we consider this as both challenges and opportunities.” (TT)

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India will once again be represented at the world's most formidable rally raid as veteran racer Sanjay Takale prepares for his second attempt at the Dakar Rally in 2026. This event, renowned as the ultimate endurance challenge, will see Takale draw upon his disciplined approach and decades of international racing expertise across both motorcycles and cars. His participation underscores a continued, though rare, Indian presence on this global motorsport stage.

Takale’s previous campaign was historically successful, culminating in an 18th-place overall finish. Framing his upcoming effort as an evolved chapter, he is focusing on intensified preparation and strategic refinement. This return is fuelled by over 35 years of accumulated track insight and a sharpened competitive perspective.

In addition to his driving career, Takale’s role as Director of aerpace Industries allows him to champion broader national ambitions in engineering and mobility. He consistently frames motorsport as a dynamic proving ground for core industrial principles like precision, systemic endurance and meticulous execution.

Ultimately, Takale's journey back to the Dakar starting line symbolises India's growing footprint in international motorsport. It is a narrative built not on fleeting speed but on profound experience, resilience and a dedicated pursuit of excellence under the world's most extreme racing conditions.

Takle said, “My first Dakar was an extraordinary experience. Dakar changes you once you race it; you are never the same. It challenges you mentally, breaks you down and teaches you resilience, discipline and the true meaning of fighting back. I emerged not just as a stronger driver but as a different person altogether. This year, my focus is clear to return, finish the rally again and significantly improve my position. I will once again be competing for my team, aerpace Racers, with technical support from Compagne Sharenne, France. I am proud to represent India as the only four-wheeler entry for the second consecutive year. My goal is simple: to see the finish line and to finish stronger.”

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Hankook Tire has been honoured with a Ministerial Commendation by the Ministry of Trade, Industry and Resources of Korea. The honour was conferred at the 2025 Outstanding Overseas Investment Contributors Awards, an event hosted at the Korean Cultural Center in Budapest, Hungary, designed to recognise firms that enhance national competitiveness through global investment. During the ceremony, the company's leadership detailed its achievements to an audience of diplomatic officials and fellow Korean businesses operating in the region.

The award celebrated Hankook Tire's excellence across four critical areas. Economically, its strategic manufacturing base in Rácalmás, Hungary, established in 2008, has become a significant contributor to the Korean economy through consistent profit repatriation. The company has also acted as a catalyst for other Korean enterprises, enabling market entry for supply chain partners while securing its own strategic alliances within Europe, thereby strengthening the collective agility and global standing of Korean industry.

Beyond commerce, the company's deep local social commitment was highly recognised. The Hungarian plant is a cornerstone of the regional economy, having multiplied its local workforce to approximately 3,000 employees and maintaining this stability even through periods of global economic uncertainty. This commitment extends through extensive community outreach, including the long-term donation of tyres to enhance public and private mobility safety, alongside targeted investments in local infrastructure, social welfare and youth scholarships.

Furthermore, Hankook Tire serves as a central pillar for the Korean business community in Hungary. By holding leadership roles in major business associations, the company facilitates essential dialogue and practical cooperation, helping to resolve common challenges and support the sustainable operation of Korean enterprises in the market. Through this powerful combination of economic performance, social integration and community leadership, Hankook Tire exemplifies the impactful role of responsible overseas investment in fostering mutual growth and strengthening international ties.

Ho Taek Lim, Managing Director of Hankook Tire Hungary plant, said, “As a representative company with deep roots in Hungary, Hankook Tire is committed to fostering unity within the Korean community and supporting the successful establishment of Korean companies entering the market. Through close collaboration with local institutions, we will continue enhancing the competitiveness of Korean companies in Europe while advancing Korea’s national interests.”

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Apollo Tyres Ltd has introduced the Vredestein Comtrac 2+, a new summer tyre engineered for light commercial vehicles. Set for a European launch in January 2026, this premium model will be available in 21 sizes for rims from 15 to 17 inches, including extra-load variants for heavier demands. It builds upon its predecessor with significant advancements in durability, efficiency and overall performance, aiming to lower the total cost of ownership for fleet operators.

A key innovation is a fourth-generation polymer compound, which boosts abrasion resistance by 13 percent. This advancement extends tread life, reduces replacement frequency and minimises the release of microplastics from wear. The tyre’s construction includes a reinforced bead area and a robust carcass for enhanced stability and reliability under heavy loads, improving vehicle uptime. Safety in wet weather is addressed through a specialised silica filler and an efficient tread pattern designed to prevent aquaplaning by rapidly dispersing water.

Furthermore, the Comtrac 2+ achieves a seven percent reduction in rolling resistance, improving fuel economy for conventional vehicles and helping to extend the driving range of electric and hybrid vans. Every aspect of the tyre is crafted for maximum longevity and cost efficiency, supporting business operations with fewer interruptions. The product also meets the stringent requirements of the European Union Deforestation Regulation, aligning with contemporary environmental and sustainability standards.

Yves Pouliquen, Vice President, Commercial EMEA, Apollo Tyres Ltd, said, “With the Comtrac 2+, we set out to address the changing demands of today’s light commercial vehicle operators, whether independent trade professionals or major fleet managers. Our R&D Team has engineered the tyre to deliver longer tread life, lower rolling resistance and a safer, more comfortable ride that drives greater efficiency – all at an accessible price point.”

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MRF Tyres has once again proven its motorsport pedigree by securing the 2025 FIA European Rally Championship Team Title. The official accolade was presented at the season-ending FIA Awards Gala in Tashkent, where Vice-Chairman and Managing Director Arun Mammen collected the trophy. This gala represents the pinnacle of the international motorsport calendar, formally recognising champions from across the discipline.

This victory marks the team’s third ERC crown, following previous successes in 2022 and 2023. It was earned through a campaign defined by remarkable consistency and adaptability across diverse rally stages. Strategic tyre choices and seamless coordination between the team’s personnel, engineers and driving crews were fundamental to this achievement, highlighting the programme’s overall strength and the reliability of its products.

The company has extended its appreciation to every individual who contributed to this result. The recognition at such a distinguished forum reinforces the company’s commitment to excellence and cements its position as a leading force on the global rally stage.

Mammen said, “We are deeply honoured to receive the Team Title at such a prestigious occasion. This award recognises not only the work of our engineers and staff, but also the spirit, dedication and resilience of the entire MRF Tyres organisation, both on and off the stages of the 2025 European Rally Championship. When preparation, performance and passion come together, tyres can make the difference. This trophy underlines our commitment and encourages us to continue delivering our very best in the seasons to come.”

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