Yokohama Rubber posted record-high business and financial results for the first nine months of fiscal 2024, driven by substantial revenue and profitability growth across its key business segments.
The company reported a 13.1 percent increase in sales revenue from the same period last year, reaching USD 5022 million. Business profit rose 69.6 percent to USD 535 million, operating profit increased 63.8 percent to USD 551 million, and profit attributable to the parent company’s owners climbed 36.5 percent to USD 390 million.
The Group’s business profit margin also reached 10.7 percent, its highest level ever for this time frame.
Yokohama Rubber attributed this robust growth to efforts to expand sales volume, implement product price increases and optimise the product mix. A full-year contribution from Y-TWS and the positive impact of yen depreciation further supported the performance.
Segment Results
Tyre Business: Sales in the tyre segment reached USD 4498 million, a significant increase from USD 3931 million in the same period last year. Business profit for the segment surged to USD 505 million, up from USD 287 million. Growth was driven by higher sales volume, favourable product mix and effective price increases in response to raw material costs.
Yokohama Off-Highway Tires (YOHT: YOHT recorded sales of USD 684 million, up from USD 632 million in 2023, while business profit rose to USD 81.45 million, compared to USD 76.3 million the previous year. The segment benefited from strong demand in the agricultural and industrial tyre markets, particularly in overseas markets.
Yokohama Tire & Wheel Solutions (Y-TWS): Sales in Y-TWS totaled USD 737 million, a substantial increase from USD 432 million in 2023. Business profit came in at USD 46.81 million, reversing a loss of USD 7.05 in the prior year. The improvement reflects strong sales of speciality tyres and positive impacts from structural changes and efficiency improvements.
Yokohama Rubber’s CEO emphasised the company’s ongoing focus on strategic growth initiatives, including high-margin products and global market expansion. The results underscore Yokohama Rubber’s resilience and adaptability in a challenging economic environment.
Pyrum And UNITANK Combine Forces In Major Tyre Recycling Joint Venture
- By TT News
- February 03, 2026
A new joint venture, UniPyrum, has been established by Pyrum Innovations AG and the independent tank farm operator UNITANK Holding GmbH, with the ambition to build a European network for processing end-of-life tyres. Based in Hamburg, the venture will be managed by a dedicated team overseeing the expansion of multiple advanced recycling facilities. The initial blueprint calls for the development of five to 10 such plants across strategic European locations, beginning with several sites in Germany.
Each new facility will feature a modular setup, starting with a minimum of three modern thermolysis reactors. This configuration allows a single site to process at least 22,000 tonnes of scrap tyres annually, with the flexibility for future capacity increases based on local demand. For the launch, three initial target regions have been selected, with comprehensive preliminary work on engineering and business planning already completed. A UNITANK facility in Emleben, Thuringia, is under strong consideration as the first operational location, and the partners are preparing to initiate approval processes imminently.
UNITANK, which holds a 51 percent majority stake in the partnership to Pyrum’s 49 percent, is actively securing the venture’s commercial foundations. This involves concurrent negotiations to establish reliable supply chains for feedstock tyres and to secure offtake agreements for the recycled output. The collaboration combines Pyrum's proprietary technology with UNITANK's industrial logistics expertise to accelerate the rollout of this recycling infrastructure.
Jan Vogel, CEO, UNITANK Group, said, “We are delighted to take a decisive step forward in our longstanding and trusting partnership with Pyrum by establishing this joint venture today. In addition to our core business in the tank storage sector, this creates a new business area with strong growth potential that is independent of the energy transition. The combination of Pyrum’s leading technology and our extensive experience in operating critical infrastructure in the energy sector opens up exciting opportunities for the future. The aim is for the new joint venture to rapidly develop and operate a network of used tyre recycling plants in Germany and neighbouring countries.”
Pascal Klein, CEO, Pyrum Innovations AG, said, “Since our initial memorandum of understanding with UNITANK, we have worked intensively together to further develop our partnership. We are delighted to reach this important milestone today. Following the positive funding approval in Greece and the recently signed shareholder agreement with SUAS, the founding of the joint venture with UNITANK represents the next important step in finally accelerating the construction and operation of new plants. UNITANK’s many years of experience in operating critical infrastructure and its diverse technical and logistical expertise complement our technology perfectly. Together, we are significantly increasing Europe-wide recycling capacity for end-of-life tyres and actively promoting the circular economy.”
Sri Trang Agro-Industry Forges University-Industry Alliance For Sustainable Rubber
- By TT News
- February 03, 2026
Sri Trang Agro-Industry Public Company Limited (STA), under the leadership of Executive Director Chalermpop Khanjan, has entered a strategic partnership to advance sustainability through innovation. The company participated in a ceremony to sign a Memorandum of Understanding (MOU) with Chiang Mai University and five other leading industrial sectors. This collaboration is dedicated to promoting the development of knowledge, research and innovation, firmly aligning with STA's commitment to sustainability and its core Environmental, Social, and Governance (ESG) values.
The partnership’s specific objectives include advancing joint research, supporting specialised training programmes and strengthening collaborative networks to directly address climate change. A key focus is the transfer of technology and environmental innovations, including climate adaptation solutions, to be applied across business, government and community sectors to drive tangible, shared learning. This initiative reinforces STA’s mission to generate long-term value for all its stakeholders, including farmers, local communities, customers and consumers.
Concurrently, an industrial panel discussion titled ‘Innovations Toward Industrial Sustainability’ was held. Dr Saranthinee Mongkolrat, Sustainability Division Manager at STA, delivered a presentation on ‘Carbon-Smart Natural Rubber: Turning Plantations into Long-Term Carbon Sinks’. Her session underscored the critical role of natural rubber plantations in carbon sequestration and their contribution to a more sustainable industrial future.
Through this integration of expertise, technology and cross-sector collaboration, Sri Trang Group continues to drive its long-term sustainability mission. The Group is committed to consolidating its position as a global leader in the green natural rubber industry, thereby fostering balanced growth and supporting sustainable development on both a national and international scale.
Hankook And Al Dobowi Group Become Official Partner Of Al Ain Football Club
- By TT News
- February 03, 2026
In a strategic move to deepen its engagement in the Middle East, Hankook Tire, along with Al Dobowi Tyre Company, the official distributors of Hankook in UAE since 1978 under Al Dobowi Group, has entered a three-year official partnership with the celebrated football club Al Ain FC, effective January 2026. The alliance was formally inaugurated at Al Ain’s Hazza Bin Zayed Stadium. This collaboration aims to significantly elevate Hankook’s premium brand stature on a global scale by connecting with the club’s vast regional fanbase and leveraging prominent marketing channels, such as stadium LED advertising.
Al Ain FC, founded in 1968 and currently leading the 2024/2025 season, is the most decorated club in the UAE, boasting numerous domestic and continental titles. Partnering with such an institution provides Hankook a powerful platform to reinforce its market leadership. The sponsorship strategy includes exclusive initiatives like a VIP Hospitality Program and the Ainawi Membership season cards, designed to foster closer sales relationships and deliver distinctive experiences to stakeholders across the region.
This partnership builds upon Hankook's established efforts to cultivate a premium image in the Middle East and Africa, underscored by the introduction of its high-performance Ventus evo tyre series and its role as an original equipment supplier for luxury automotive brands in the local market. Simultaneously, Al Dobowi Group continues to enhance its advanced service infrastructure, aiming to surpass customer expectations at every touchpoint and further strengthen consumer engagement alongside Hankook.
Jong Woo Kim, Vice President – Middle East & Africa Regional HQ, Hankook Tire & Technology, said, “We are delighted to enhance communication with local customers and consumers and expand brand touchpoints through this partnership with Al Ain FC, a representative club of the UAE. Based on our global technical leadership, we will continue to share Hankook Tire’s premium value across the Middle East.”
Surender Singh Kandhari, Chairman, Al Dobowi Group, said, "Al Ain FC is a symbol of success, and we are honoured to join this journey. This partnership brings together three brands standing for performance and long-term commitment."
Citira Enters UK Market With Acquisition Of Nationwide Service Provider Tyrefix
- By TT News
- February 03, 2026
Citira, a Sweden-based company specialising in circular tyre management, has announced a definitive strategic step in its ambition to become a leading, integrated provider in the Northern European circular tyre ecosystem with the acquisition of Tyrefix. The agreement, executed on 20 January 2026 and expected to close imminently, secures a robust and scalable operational foundation for Citira in the United Kingdom, representing a core pillar of its geographic expansion.
Tyrefix is renowned for its four decades of specialised service excellence. The company operates a nationwide fleet delivering on-site tyre management, repair and replacement exclusively for off-highway and earthmoving machinery, a sector where equipment uptime, worksite safety and service reliability are non-negotiable for its industrial clientele.
This transaction is fundamentally value-driven. It provides Citira with immediate access to Tyrefix’s established national network, its deeply entrenched customer relationships and its unique mobile service expertise. The integration of this proven model is anticipated to generate significant commercial synergies and cross-selling opportunities across Citira’s broader portfolio, enhancing service offerings for all customers.
Post-closure, Tyrefix will continue its operations under the trusted Tyrefix brand, preserving its customer-facing identity and its experienced management team, including Oliver Johnson, Jon Pitman and Steve Bareham, who will transition to become co-owners within the Citira group. The transaction facilitates a full exit for the current investment company, Literacy Capital, and other minority shareholders, transferring ownership to Citira and marking a new chapter of growth.
David Boman, CEO, Citira, said, “I am very happy to welcome Oliver, Jon, Steve and the entire Tyrefix team to Citira. Tyrefix’s model is unique and has shown great success during several decades, and still has potential for growth across current and new market segments. With Oliver at the helm, I am confident that our expansion into the United Kingdom will become another success story of Citira.”
Oliver Johnson, CEO, Tyrefix, said, “Joining Citira allows Tyrefix Group to advance our already strong market position in off-highway tyre services while providing additional solutions to minimise vehicle downtime. By becoming part of a larger organisation, Tyrefix Group gains access to additional resources and increased opportunities to accelerate our growth plans.”
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