German chemicals group Wacker Chemie lowered its full-year outlook after third-quarter profit fell by nearly a quarter, hit by weak demand and intense competition from China.

The Munich-based company, which makes silicones and polysilicon for semiconductors and solar panels, reported earnings before interest, tax, depreciation and amortisation (EBITDA) of 112 million euros ($121.6 million) for the July-September period, down 23 percent from 145 million euros a year earlier.

Sales fell 6 percent to 1.34 billion euros from 1.43 billion euros, weighed down by lower prices and unfavourable currency effects.

The results were broadly in line with analyst expectations, which had forecast sales of 1.37 billion euros and EBITDA of 101 million euros, according to Vara Research.

Wacker swung to an operating loss of 20 million euros in the quarter, from a profit of 30 million euros a year ago, whilst net income turned negative to 82 million euros, compared with a profit of 34 million euros.

“The chemical industry is under pressure – worldwide, but in Europe in particular. The economic situation is tense, and market demand is weak. At the same time, the market environment is changing, and competitive pressure is high – especially from China. And this is something that we are experiencing at WACKER as well,” Chief Executive Christian Hartel said.

“Like many other companies, we had to lower our full-year forecast in the middle of this year. Even though we closed Q3 in line with market expectations, sales and earnings were again down year on year in almost all business divisions,” he said.

Wacker launched a comprehensive cost-cutting programme in October aimed at achieving significant savings in production and administration, with implementation planned to begin in the first quarter of 2026.

The company now expects full-year sales at the lower end of its previously forecast range of 5.5 billion to 5.9 billion euros, with EBITDA in the lower half of its 500 million to 700 million euro range. It also anticipates a negative net result for the year, significantly below the previous year.

The company’s silicones division, its most significant business, saw sales decline 7 percent to 673 million euros, whilst EBITDA fell 19 percent to 86 million euros. The polysilicon unit, which serves both solar and semiconductor markets, reported a 40 percent drop in EBITDA to 18 million euros, as low prices and exchange-rate effects offset strong hyperpure polysilicon performance in semiconductors.

Wacker’s workforce declined to 16,616 employees at the end of September from 16,724 three months earlier.

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Continental Tire is launching a philanthropic initiative with ROUSH Performance and automotive influencer Supercar Ron to deliver hope to children with critical illnesses. The collaborative effort centres on raising funds for Make-A-Wish, the global leader in granting transformative wishes for children facing serious health challenges. At the campaign’s core is the ‘Full Throttle for Wishes Giveaway’. This sweepstakes offers a grand prize of a fully equipped ROUSH-supercharged F-150 Nitemare, outfitted with Continental ExtremeContact DWS-06 Plus tyres, with all proceeds directly benefiting the charity.

Since 1980, Make-A-Wish has fulfilled over 615,000 wishes worldwide, providing hope and joy during immensely difficult times. The organisation believes a wish can serve as a pivotal moment, fostering resilience and optimism that positively impacts a child’s journey. With a child becoming eligible for a wish approximately every 25 seconds, the mission is urgent. By uniting high-performance automotive passion with philanthropy, this initiative aims to create life-changing experiences and deliver moments of joy to as many children as possible.

Brian Beierwaltes, Head of Marketing US PLT, Continental Tire, said, “Together, we have the power to create something extraordinary. By joining forces with ROUSH and Supercar Ron, we’re turning passion into action and making a huge difference for kids who need hope the most.”

Supercar Ron said, “Cars have always been my passion, but helping kids is my purpose. This initiative is about more than horsepower; it’s about giving these incredible kids the strength to keep fighting. I’m thrilled to team up with Continental and ROUSH to make this happen.”

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Apollo Tyres has achieved an A- rating from the Carbon Disclosure Project (CDP) in both Climate Change and Water Security for 2025. This recognition places the company among the foremost international leaders in transparency and tangible environmental action, as evaluated by this prominent disclosure platform. Apollo Tyres began its formal CDP reporting journey in 2020, demonstrating its dedication to accountability through alignment with major frameworks including the Taskforce on Climate-related Financial Disclosures (TCFD) and the Science Based Targets initiative (SBTi).

The company’s performance trajectory illustrates a consistent and marked improvement, rising from an initial Climate Change score of D in 2020 to achieving leadership status just five years later. This progression was bolstered in 2023 when Apollo Tyres expanded its disclosures to encompass water security, immediately securing a B- rating. The subsequent elevation to a dual A- rating underscores robust advancements in corporate governance, risk management, and comprehensive emissions reduction initiatives.

Central to this progress is Apollo Tyres’ commitment to achieving net zero emissions across its value chain by 2050. In support of this ambitious long-term vision, the company is developing a detailed decarbonisation roadmap and will shortly announce specific, absolute near-term emission targets. This systematic approach reinforces ongoing efforts to deepen stakeholder engagement and implement science-based environmental strategies, solidifying the company’s strengthened standing within the competitive global sustainability landscape.

Rajeev Kumar Sinha, Chief Manufacturing Officer, Apollo Tyres Ltd, said “Reaching an A- rating underscores our dedication to environmental stewardship and our progress towards a low-carbon, water-secure future. We remain committed to driving meaningful action and transparency across our operations.”

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Michelin is accelerating its retail expansion in North India through strategic new partnerships. The global tyre manufacturer has inaugurated two new Michelin Tyres & Services stores in Delhi NCR region. In Noida, Michelin has collaborated with Tyre Shoppe India, an established retailer with over 25 years of industry presence and a substantial facility renowned for its technical proficiency and customer service. A separate flagship outlet has also opened in Delhi’s Model Town in partnership with Liberty Tyres, a trusted automotive specialist operating for more than two decades.

These new stores provide customers with full access to Michelin’s premium tyre portfolio alongside comprehensive automotive care. Both facilities are equipped with advanced diagnostic tools, high-precision alignment and balancing equipment and offer a complete suite of vehicle services to ensure efficient and accurate maintenance. This expansion is part of Michelin’s focused strategy to strengthen its footprint across Northern India, enhancing convenience and reliable access for motorists.

Shantanu Deshpande, Managing Director, Michelin India, said, “Delhi–NCR plays an important role in Michelin’s growth strategy for India, with its strong base of premium and performance vehicle owners. The addition of these two new Michelin Tyres & Services Stores strengthens our retail presence in the region and brings us closer to our customers. As we prepare to introduce our Made-in-India passenger car tyre range next year, expanding our network remains central to ensuring accessibility and providing consumers with world-class mobility solutions.”

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Bridgestone Retail Operations, the service and retail arm of Bridgestone Americas, has named Zachary Borden as its 2025 Automotive Service Excellence (ASE) Master Technician of the Year, recognising his performance across technical skills, productivity and customer service.

Borden received the award at a ceremony hosted by the National Institute for Automotive Service Excellence, which oversees certification standards for vehicle repair and maintenance technicians in the US.

Borden joined the company’s Firestone Complete Auto Care network in Virginia Beach, Virginia, in 2016 after completing an associate degree in automotive technology at Tidewater Community College. He holds nine ASE certifications and has exceeded his service productivity rate by nearly 300 per cent for the past two years, according to the company.

Marko Ibrahim, president of Bridgestone Retail Operations, said: “Zach exemplifies the spirit of this award through his commitment to efficiency, clear and productive communication, and fostering a collaborative work environment. He is a standout technician and a trusted advisor for our customers, and it is an honour to recognise his servant leadership.”

Borden said: “Being named ASE Master Technician of the Year is truly an honour, and I’m grateful to be recognised for the quality of my work. What means the most to me is the opportunity to grow alongside a team that supports, challenges, and learns from one another every day.”

ASE Technician of the Year nominations are determined by employers based on test scores, on-the-job performance and community involvement. Bridgestone Retail Operations selects candidates from its network of more than 2,200 outlets across the US operating under the Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus and Wheel Works brands.

The award follows the accreditation of Bridgestone Retail Operations’ technician-training curriculum by ASE in October. Accreditation is granted to institutions that meet established standards for technical education and is intended to support technicians in gaining ASE certifications throughout their careers.

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