Bansal Wire Industries, India’s largest stainless steel wire manufacturing company, is charting a dynamic course in the Indian tyre market with innovative solutions aimed at enhancing performance and sustainability. Leveraging its expertise in the automotive sector, the company is introducing advanced steel cords and bead wire products designed to improve tyre efficiency, rolling resistance and fuel economy.

Bansal Wire Industries is optimistic on capitalising on the growth of the Indian tyre market as tyre makers endeavour to offer more efficient rubber wheels. The Delhi-based conglomerate is planning to introduce products within its tyre-industry portfolio that will improve performance. The company already caters to the automobile industry with products spanning outer and inner spring, circlips and washer categories.

Speaking to Tyre Trends on upcoming products, Managing Director Pranav Bansal iterated, “Our modern manufacturing setup enhances product performance; this is particularly in line with current industry trends as we move towards producing super tension and super tensile plus steel cord products. These innovations are expected to improve rolling resistance and reduce tyre weight, both of which contribute to better fuel efficiency and performance. We are actively embracing complete digitalisation and bringing more automation into our processes, helping us increase efficiency and ensure product consistency.”

He added, “We pride ourselves in being the only Indian company manufacturing steel cord for the PCR and TBR sectors with offerings in normal tensile, high tensile and super tensile (ST). Additionally, we have expanded our bead wire manufacturing capabilities with facilities in both South and North India and we continue to explore innovations to serve the evolving needs of the tyre industry.”

Alluding to the reason behind expanding into the tyre industry, he noted, “Our expansion into the tyre industry is driven by the increasing demands of durable, high-quality materials and products, as supported by industry research reports done by Invest India, among others. By diversifying our product portfolio, we aim to meet this demand for efficient materials. By focusing on high-quality steel cords and bead wires, we help improve tyre performance, which in turn enhances vehicle stability, handling and safety, especially under challenging road conditions.”

“The Indian tyre industry has witnessed a significant growth over the past few years, which is driven by an exponential increase in production, domestic sales, exports and overall revenue. An integral growth factor in this is the increase in the ownership of vehicles, which further aids the tyre industry. Additionally, the surge in demand for tyres for trucks and buses, fuelled by expanding mobility and industrialisation, has given a boost to the sector,” he added.

The company caters to over 5,000 customers, offering more than 4,000 different wire products across industries such as automotive, infrastructure and consumer durables. While its primary market is India, the manufacturer also exports products to over 50 countries. The US and Europe are among its largest markets, where it continues to see significant demand for products.

Industry talk

Bansal mentioned that the increasing demand in the automotive industry, domestically, presents tremendous opportunities for the company. “Our high-performing products allow us to constantly evolve. However, challenges like fluctuating raw material prices as well as the changing regulatory requirements could impact. Expansion internationally, specifically in regions like the US and Europe, provides significant opportunities, but geo-political risks and trade regulations could challenge the operations on a global level,” he noted.

Alluding to the strategies implemented by the company to meet the growing demands, he iterated, “In the automotive and tyre industry, collaboration with stakeholders is key to driving innovation and meeting the growing demand for high-quality wire products. We focus on building strong partnerships with manufacturers, suppliers and research institutions to align our solutions with industry needs. Regular engagement through industry forums, trade shows and feedback mechanisms allow us to understand evolving requirements and deliver solutions that enhance performance, safety and sustainability. By participating in joint development projects, sharing technical expertise and staying updated on emerging trends, we ensure our products remain at the forefront of technological advancements.”

Quality and sustainability

The company has manufacturing facilities for bead wire in both South and North India. The production capacity at its South India facility is 50 kilotonnes per year, and at the North India facility, it is 30 kilotonnes per year. Additionally, it has a pilot manufacturing site for steel cords in North India, which currently has a production capacity of 20 kilotonnes per year. The company plans to gradually scale up this capacity to meet the growing demand of the tyre industry. 

Commenting on quality measures implemented to derive industry-grade materials, he explained, “We are committed to ensuring the highest product quality and will soon be the only company in India with dedicated in-house research and development wing for both steel cord and bead wire. Our research and development facility spans 12,000 square feet and is equipped with state-of-the-art equipment to drive innovation. To achieve 'First Time Right' production, we have conducted extensive gap analyses of our processes and implemented all necessary improvements. Additionally, our manufacturing facilities are equipped with cutting-edge machinery, all integrated with a complete digital interface to capture real-time data, ensuring the highest standards in production and quality.”

The company also puts focus in the principles of circularity with several initiatives. “Sustainability is a core focus area for us and we are addressing it in several ways. Our use of renewable energy has reached 70 percent in some of our plants and we are dedicatedly moving towards water positivity in many of our facilities. We are exploring the use of green steel in both our steel cord and bead wire products. To further reduce our environmental impact, we are investing in energy-efficient machinery and continuously seeking ways to minimise emissions across our operations,” said Bansal.

Future course

According to Bansal, the company is anticipating several key trends that will influence its business, including a strong focus on product innovation to enhance performance and quality. “We are committed to show resilience to maintain operational stability in dynamic markets. We work dedicatedly to improve the customer experience through feedback and satisfaction while also fostering diversity and inclusion within our workplace culture. Sustainability and corporate social responsibility remain priorities, alongside embracing technological advances to optimise our operations and product offerings for the future. These trends will guide our growth and ensure we stay ahead in a competitive market,” explained Bansal.

Besides, the company is also focused on significant growth opportunities through the establishment of new facilities and capacity expansions. “Our new manufacturing site in North India for both steel cord and bead wire has a current steel cord capacity of 20 kilotonnes per year with plans to scale it to 200 kilotonnes per year over the next five years. In bead wire, we now have two new state-of-the-art manufacturing facilities in South and North India with a combined production capacity of 80 kilotonnes per year, ensuring that we are well positioned to meet the increasing demand from our customers in the coming years,” concluded Bansal.

Pyrum Innovations AG has announced that its Supervisory Board has extended the contract with Chief Financial Officer (CFO) Kai Winkelmann until 31 March 2030 to ensure continuity in the management of the company.

Winkelmann joined the firm in February 2021, and on 1 April 2022, he was initially named to the Executive Board as CFO. He has so far played a major role in obtaining the company's funding during his tenure at Pyrum, including last year's successful capital raise. Winkelmann is in charge of Finance, Compliance and IT in his role on the Executive Board.

Alf Schmidt, Chairman of the Supervisory Board, said, “We are pleased about the contract extension of Kai Winkelmann, who has proven his skills and in-depth expertise in the financial sector and at the management level in recent years. Over the last four years, he has made a significant contribution to the development of the necessary administrative structures and to the success of the company, and has promoted its rapid further development. We have confidence in his foresight and are convinced that Winkelmann will continue to play a central role in the successful implementation of the company’s goals in the years to come.”

Bridgestone Corporation (Bridgestone) has been selected once again to continue as a constituent of three internationally renowned environmental, social and governance (ESG) indexes: the MSCI ESG Leaders Indexes, the FTSE4Good Index Series and the Dow Jones Sustainability World Index (DJSI World).

Bridgestone has been a part of the MSCI ESG Leaders Indexes for two years in a row since 2023, the DJSI World for three years in a row since 2022 and the FTSE4Good Index Series for seven years in a row from 2018. Bridgestone's specific Mid Term Business Plan (2024-2026) has been steadily implemented, putting sustainability at the centre of its operations. The company's 2020 vision and Mid-Long Term Business Strategy served as the foundation for the plan.

According to the company statement, “Setting forth the vision of ‘Toward 2050, Bridgestone continues to provide social value and customer value as a sustainable solutions company’, Bridgestone links its business to the realisation of carbon neutrality, a circular economy and nature positivity across the entire value chain. From the ‘produce and sell’ phase and the ‘use’ of its products through to their ‘renewal’ to raw materials, Bridgestone aims to build a foundation for creating sustainability value.”

The following initiatives have contributed to Bridgestone's inclusion in these indexes:

• Contributing to a circular economy and attaining carbon neutrality by using ENLITEN technology to make tyres from recycled and renewable resources, using BCMA and switching to ‘Green & Smart’ manufacturing at Bridgestone locations to increase resource productivity and energy efficiency.
• Encouragement of nature positivity through initiatives for the sustainable use of water resources and natural rubber that are closely related to the commercial operations of the firm, including strengthening assistance for natural rubber smallholders.
• Strengthening of a thorough structure and procedure for human rights due diligence that aims to identify, mitigate, avoid and disclose human rights concerns.
• Visualisation and disclosure of the impact of social contribution actions that are in line with the global goals.

German automotive company and tyre major Continental has been added another feather to its cap with bagging the ‘Tire Manufacturer of the Year’ at this year’s Tire Technology International Awards for Innovation and Excellence at this year’s Tire Technology Expo.

With this, Continental becomes the only tyre maker to have won two concurrent awards – Tire Manufacturer of the Year and Environmental Achievement of the Year – Manufacturing. The company’s Lousado facility in Portugal was also recognised for manufacturing tyres CO2-neutrally since last year.

Edwin Goudswaard, Head of Research & Development, Continental Tires, said, "We are especially proud to be the only manufacturer to be honoured twice at the Tire Technology Awards in an extremely competitive field. Both awards highlight our strong commitment to sustainable tire development and manufacturing. In such a highly competitive market, this success demonstrates our innovative prowess and our ability to actively shape the future of the industry."

Interestingly, this also marks it the fourth time that the German company has bagged the Tire Manufacturer of the Year award. The awards took into consideration tyre makers globally and were evaluated by a jury of 27 independent industry experts.

Going forward, Continental has outlined its ambition to switch all of its tyre plants to fully carbon-neutral production processes by 2040 at the latest.

Hankook Tire & Technology (Hankook Tire) has appointed Jongseon Ahn and Sanghoon Lee as Executive Directors and new Co-CEOs, following a resolution passed at the Annual General Meeting and Board of Directors meeting held on 26 March.

Ahn will be in charge of Hankook Tire's global innovation, R&D, procurement, production and quality, while Lee will be in charge of global sales and marketing initiatives to strengthen the premium positioning of the company's unified global brand, Hankook, as well as the supply of original equipment (OE) tyres for new vehicles. In addition to the leadership nominations, shareholders approved all eight agenda items at the Annual General Meeting, including the approval of the consolidated financial accounts, partial revisions to the Articles of Incorporation and director appointments.

Ahn has extensive leadership expertise and a proven track record of advancing technology innovation in the operational holding firm, Hankook & Company. He oversaw general management and spearheaded innovative initiatives in 2021 while serving as COO of Hankook & Company and Head of ES (Energy Solution) Business Headquarters. He became the CEO in 2022 and oversaw the company's expansion of premium Absorbent Glass Mat (AGM) battery sales into important international markets, which greatly increased profitability and strengthened the company's platform for long-term success.

Lee's vast worldwide leadership experience serves as the foundation for his profound understanding of marketing and global sales strategy. He has held important regional leadership positions in China and Europe since 2018, during which time he has played a crucial role in bolstering the company's premium brand positioning internationally and continuously promoting creative business performance, both of which have greatly increased revenue. At the conclusion of last year, he was nominated as Hankook Tire's Co-CEO due to his success and leadership.