Marubeni Corporation has taken a significant step into Thailand’s tyre recycling industry by acquiring a 32 percent stake in Green Rubber Energy, an ELT pyrolysis company. This strategic partnership aims to address the tyre industry’s waste management challenges, foster sustainability and strengthen circular economy practices by producing high-quality recovered carbon black and other recycled materials.

Marubeni Corporation recently forayed into Thailand’s tyre recycling space with investing in Green Rubber Energy (GRE), an end-of-life tyre pyrolysis company headquartered in Samut Prakan.

Speaking to Tyre Trends on the partnership, GRE Chief Executive Officer Mai Auapinyakul said, “Marubeni, with its expansive upstream-to downstream network, has long sought to tackle the waste tyre challenge while addressing sustainability goals for major tyre manufacturers. GRE fills a critical gap in Marubeni’s strategy by stepping in as the recycler, a role previously missing in its ecosystem. The partnership between GRE and Marubeni is built on a foundation of trust, having worked together for over five years in the recovered carbon black (rCB) market. GRE’s expertise and Marubeni’s global reach create a natural synergy, fostering collaboration across the entire supply chain, from producers to recyclers.”

The executive revealed that Marubeni now holds a 32 percent stake in GRE, solidifying its entry into the ELT and tyre pyrolysis business in Thailand. While financial specifics remained undisclosed, she mentioned that this partnership is poised to significantly influence regional tyre recycling markets.

“GRE’s vision to lead as a key technological player in closing the circular economy loop aligns seamlessly with Marubeni’s strategy in tyre recycling. This collaboration marks a pivotal step in transforming the tyre industry’s linear supply chain characterised by ‘make, use and discard’ into a circular one focused on ‘use, remake and recycle’,” said Auapinyakul.

The recycler emphasised that a successful circular supply chain demands a seamless partnership among producers, users and recyclers. As tyre manufacturers push towards sustainability targets such as integrating recycled raw materials into their production processes by 2050, GRE plays a critical role in ensuring the quality and consistency of rCB.

“Recovered carbon black production is inherently tied to the formulation of input tyres, whether truck tyres, eco tyres or passenger car tyres. GRE’s approach underscores that ‘what goes in is what comes out’. Tyre manufacturers’ formulations directly influence the rCB quality GRE supplies back to the industry, making collaboration not just beneficial but essential,” said the executive.

She added, “Marubeni’s extensive network within the tyre manufacturing industry opens new avenues for GRE to meet industry-grade rCB standards. This collaboration fosters innovation and quality assurance while expanding the dialogue on the broader adoption of rCB in both tyre and compounding industries.”

DEMAND FOR RCB GRE’s

ELT recycling process produces three primary commercial products that include rCB, tyre pyrolysis oil (TPO) and steel wires. The rCB produced is equivalent to N660-grade carbon black, offering a sustainable alternative for industrial applications. TPO serves as a versatile byproduct used in fuel and chemical production, while the steel wires extracted during the process are sold to recycling markets.

The company currently focuses on the regional market with most of its rCB distributed within Thailand. However, GRE has begun exporting small quantities of rCB to Malaysia and Japan, indicating the growing international interest in sustainable materials. While regional demand remains GRE’s core focus, the international market offers significant potential for expansion as global sustainability goals and regulations gain momentum.

“In Thailand, the initial demand for rCB was driven largely by its cost advantage over virgin carbon black. Over time, this has evolved as manufacturers, especially those exporting to the European Union, adapt to stringent sustainability regulations that prioritise the use of recycled raw materials. Today, major tyre manufacturers are increasingly incorporating rCB into their production processes to meet their long-term environmental targets, resulting in heightened demand for GRE’s products,” said the official.

Adopting rCB, however, comes with its challenges. “Unlike virgin carbon black, rCB is not a one-to-one replacement due to its molecular differences stemming from the recycling process. Manufacturers must adjust their formulations and production methods to ensure compatibility. This shift in the supply chain mindset requires close collaboration between GRE and tyre producers. GRE has been proactive in addressing this challenge by working with manufacturers to align on product specifications and processes, fostering a ‘two-way street’ approach to innovation,” said Auapinyakul.

Currently, GRE’s plant in Samut Prakan, Thailand, processes around 10,000 tonnes of ELT annually, with Mai Auapinyakul, CEO, Marubeni an output split of approximately 38 percent tyre pyrolysis oil, 32 percent recovered carbon black and 13 percent steel wires. While operating below its full capacity of 13,000 tonnes, GRE plans to scale production in the coming year to meet the rising demand for rCB. With the local market currently using rCB in a 10 to 90 percent ratio compared to virgin carbon black, GRE anticipates this will shift to 30 percent rCB and 70 percent virgin carbon black within five years, signalling a transformative change in the tyre and materials industries.

FINE TUNING

GRE claimed to have achieved notable advancements in stabilising the quality of rCB for tyre applications through the implementation of continuous pyrolysis technology. While pyrolysis itself is not a new innovation, GRE has tailored its processes to prioritise rCB production over TPO, a strategy that sets it apart from many batch pyrolysis operations that emphasise oil production. Over nearly a decade, GRE has fine-tuned its technology to meet the stringent quality and stability requirements of the tyre industry, ensuring the rCB produced is suitable for tyre manufacturing.

Moreover, the collaboration seeks to purify rCB and TPO leveraging technology from Germany’s RCB Nanotechnologies GmbH, in which Marubeni has invested. Commenting on the implementation, the executive averred, “While GRE has not yet worked directly with Germany’s RCB Nanotechnology, the potential for collaboration is significant. GRE sees this as an exciting opportunity to further enhance the quality of its rCB and expand into higher-grade products, unlocking greater value in the sustainable raw materials market. The collaboration is expected to align with GRE’s goal of increasing market share by offering diversified grades of rCB, supported by Marubeni’s investment and resources.”

ENSURING SUPPLY

According to the company, Thailand generates approximately 80,000 tonnes of ELTs annually, with an additional 25,000 tonnes of off-spec tyres classified as waste. Currently, the ELT volume is increasing at a rate of around five percent per year driven by rising vehicle use and tyre turnover. With Marubeni’s expanded network and GRE’s growing capacity, the percentage of ELTs recycled is expected to increase significantly, reducing environmental impact and advancing the circular economy within the region.

Furthermore, the collaboration seeks to ensure a steady supply of the ELTs to GRE. Commenting on the supply chain, Auapinyakul noted, “Marubeni’s involvement brings strategic advantages in securing a consistent supply of ELTs. By leveraging its extensive network, including partnerships with tyre retailers and service providers, Marubeni ensures a steady flow of ELTs for GRE. This network also connects GRE to tyre manufacturers, allowing the collection of off-spec tyres directly from production lines.” “This expanded supply chain not only guarantees raw materials for GRE’s increasing production capacity but also addresses environmental concerns by ensuring ELTs are properly recycled and re-introduced into the market as sustainable products. Marubeni’s support enables GRE to scale its operations while promoting responsible waste management practices in Thailand,” she added.

EXPANDING REACH

Thailand offers a robust ecosystem for establishing a proofof- concept model. The country’s well-integrated tyre industry supply chain provides an ideal environment to demonstrate the feasibility and scalability of a closedloop recycling model. GRE aims to leverage this position by expanding its production capacity in Thailand, focusing on both domestic supply and exports.

The next five to 10 years will see GRE doubling its current maximum capacity to 26,000 tonnes with a clear strategy to expand the applications of its products. Once the model is fully operational in Thailand, GRE and Marubeni plan to adapt and replicate it in other regions, with Japan being a key target. Marubeni’s extensive network and expertise will play a pivotal role in expanding into Japan and potentially beyond the Asia-Pacific.

While the tyre industry remains the primary consumer of rCB, GRE is also exploring other markets.

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Balkrishna Industries Ltd. (BKT) has expanded its partnerships in India’s premier men’s T20 cricket league to eight teams, adding Royal Challengers Bengaluru for the upcoming season as it seeks to strengthen its position in the country’s consumer tyre market.

The company said its BKT Tyres brand would continue as Official Tyre Partner to Kolkata Knight Riders, Sunrisers Hyderabad, Rajasthan Royals, Mumbai Indians, Gujarat Titans, Punjab Kings and Lucknow Super Giants, alongside the newly added Bengaluru franchise.

The move comes as BKT advances its entry into India’s consumer tyre segment, using the tournament as a platform to expand visibility and engage a broader customer base, including commercial operators and private vehicle owners.

The partnerships are structured as long-term arrangements, incorporating stadium branding, broadcast integrations, dealer activations and digital campaigns aimed at strengthening fan engagement.

Rajiv Poddar, JMD of BKT, said: “Partnering with sporting institutions has always been central to BKT’s philosophy of Growing Together with communities. Cricket is one of the most influential cultural forces in India, uniting people across geographies, generations and backgrounds. Our continued partnerships as the Official Tyre Partner under the BKT Tyres brand allow us to connect with audiences in a meaningful way while strengthening our presence in the tyre segment. Through this association, we will further amplify our ‘Elevate Your Drive’ campaign featuring Ranveer Singh across broadcast and digital touchpoints, bringing the campaign’s message of ambition, progress and forward momentum to millions of viewers. These collaborations reflect our commitment to building long-term relationships founded on teamwork, performance and shared aspirations.”

Venky Mysore, Chief Executive of Kolkata Knight Riders, said: “BKT Tyres is not just a partner they are a brand that shares our relentless pursuit of performance. This renewed association is a testament to the trust we have built together and the ambition we carry forward. As BKT accelerates its growth in India's consumer market, the Knight Riders brand gives them the platform, the passion, and the global scale to make that journey count. At Knight Riders Sports, we do not build partnerships for visibility alone we build them for impact. This collaboration is precisely that: two performance-driven organisations, aligned in purpose, investing in a future they intend to win together.”

Rajesh Menon, Chief Executive of Royal Challengers Bengaluru, said: “Royal Challengers Bengaluru is proud to welcome BKT Tyres as our Official Tyre Partner. At RCB, we believe in pushing boundaries, embracing ambition, and creating meaningful connections with our fans, values that closely align with BKT’s ‘Elevate Your Drive’ philosophy. Together, we aim to accelerate our shared vision of excellence, resilience, and forward momentum both on and off the field.”

K Shanmugam, Chief Executive of Sunrisers Hyderabad, said: “We are happy to continue our partnership with BKT Tyres as part of this T20 cricket league. This collaboration reflects a strong alignment of values, bringing together a shared focus on excellence, performance, and consistency. Together, we move forward with clear intent, committed to raising standards both on and off the field, while delivering a meaningful and engaging experience for fans.”

Alok Chitre, Chief Operating Officer of Rajasthan Royals, said: “We are delighted to partner with BKT Tyres for the sixth year, with a shared energy and drive for performance that continues to strengthen our association. Their commitment to sport, and cricket specifically, reflects a clear focus on the growth of the game and its fan ecosystem in India. As we advance in scale and influence, we look forward to building on this partnership in a meaningful way this year as well.”

A Mumbai Indians spokesperson said: “BKT Tyres has been a valued long-term partner of Mumbai Indians, and this continued partnership reflects a shared commitment to consistency and performance. We look forward to building on this partnership through the season.”

Colonel Arvinder Singh, Chief Operating Officer of Gujarat Titans, said: “Gujarat Titans are pleased to continue the association with BKT Tyres. Partnerships like these reflect a shared commitment to performance, consistency and long-term growth. Such collaborations provide a strong platform for teams and brands to connect with fans across the world, and we look forward to building on this association while continuing to engage meaningfully with our supporters and striving for excellence both on and off the field.”

Satish Menon, Chief Executive of Punjab Kings, said: “We are very happy to continue our journey with BKT Tyres. They have been a loyal and valued partner for the Punjab Kings over the years. Their commitment to excellence matches our ambitions, and it is always a pleasure to work with a brand that understands the pulse of the sport and its fans so well.”

Vinay Chopra, Chief Executive of RPSG Sports Private Limited, said: “At Lucknow Super Giants, we believe that strong partnerships are built on shared values of performance, resilience, and ambition. Our association with BKT Tyres reflects this synergy, as both brands are committed to pushing boundaries and consistently striving for excellence. As we gear up for another exciting season, we look forward to engaging our fans more deeply and creating meaningful experiences together through this partnership.”

BKT said its sports partnerships form part of a broader global portfolio spanning multiple disciplines, aimed at reinforcing brand visibility and consumer engagement.

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Goodyear India Limited said its board has taken note of the resignation of Abhishek Arora as Director – Human Resources, India, with effect from April 20, 2026, and approved the appointment of Vishal Dhingra as HR Director, South Asia from April 21, 2026.

Arora, who will also cease to be a senior management personnel member on April 20, 2026, resigned to explore external growth opportunities, according to the company.

The board approved Dhingra’s appointment following the recommendation of the Nomination and Remuneration Committee. He will assume the role as a senior management personnel from April 21, 2026.

Dhingra has more than 25 years of experience in human resources. He joined Goodyear in July 2020 as Director HR – India and currently serves as HR Director – ASEANZ. Prior to this, he held roles at PepsiCo, India, GlaxoSmithKline Consumer Healthcare Limited, Eicher Tractors and Ballarpur Industries Limited.

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India has concluded that imports of emulsion styrene butadiene rubber (ESBR) of the 1500 series from the European Union, Japan, South Korea, Russia and Thailand were dumped, following an anti-dumping investigation initiated in March 2025.

The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce and Industry, found that dumping margins across all subject countries were above the de minimis threshold and “significant”.

The investigation was launched after Reliance Industries Limited filed an application alleging injury from imports of the product, which is widely used in tyre manufacturing and other rubber goods. The authority determined that the application met the requirements for standing, with support from Indian Synthetic Rubber Private Limited.

The product under consideration, ESBR-1500, is primarily used in tyres due to its abrasion resistance and ageing stability. The DGTR concluded that domestically produced material is comparable to imported goods and can be used interchangeably.

The period of investigation covered October 2023 to September 2024, with injury analysis spanning four financial years. During this time, imports from the subject countries rose overall and accounted for more than 90 per cent of total imports throughout the period.

The authority found that import volumes were highest during the investigation period and had increased relative to domestic production and consumption.

Dumping margins varied by country. Imports from the European Union and Japan were found to have margins in the range of 10–20 per cent, while Russia showed higher margins of 20–30 per cent. South Korea and Thailand recorded lower ranges, generally between 0–10 per cent for cooperating producers and up to 10–20 per cent for others.

The DGTR conducted a cumulative assessment of imports, concluding that goods from the subject countries compete with each other and with domestic production in the Indian market.

On injury, the authority determined that increased imports had affected the domestic industry through price suppression and declining profitability. It noted that while demand for the product rose steadily, the domestic industry’s financial performance weakened over the same period.

The DGTR also rejected arguments that the injury was caused by internal inefficiencies or raw material volatility, stating that such fluctuations were global and not specific to India.

The authority concluded that dumped imports had caused material injury to the domestic industry, establishing a causal link between import volumes and the deterioration in financial performance.

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Fornnax Technology, a global leader in recycling equipment manufacturing, has officially brought Sushil Upadhyay on board as the new Head of its Service Department, a leadership transition that takes effect immediately. With a professional background spanning over 26 years, Upadhyay arrives with extensive experience drawn from multiple multinational corporations. Throughout his career, he has successfully managed and coordinated large, cross-functional teams comprising more than 300 professionals. Within his new capacity at Fornax, his primary focus will involve steering strategic transformations within the service domain, with the objective of optimising equipment reliability, maximising value across the lifecycle of machinery and elevating the sustained performance of the company’s worldwide installed base of industrial recycling solutions.

In the coming year, the service division under his leadership is set to concentrate on a series of clearly defined operational objectives. Key among these is the effort to curtail instances of unexpected machinery downtime by integrating both preventive and predictive maintenance approaches. The team also intends to roll out measurable performance benchmarks for service delivery, which will include tracking metrics such as speed of response, Mean Time to Repair (MTTR) and overall equipment uptime. Moreover, there will be a concerted push to reinforce the availability of spare components by optimising regional warehousing and distribution processes.

Further developments on the agenda involve the creation and delivery of well-structured training modules targeting technical expertise and workplace safety, aimed at enhancing the capabilities of service personnel. In parallel, the organisation plans to introduce digital tools designed to boost transparency in operations and enable customers to more effectively monitor service activities. These combined efforts underscore Fornnax’s commitment to evolving its service infrastructure in response to growing demands for efficiency and reliability.

Jignesh Kundaria, Director & CEO, Fornnax, said, “Our people are the true engine behind our innovation and execution. As we scale globally and expand our footprint across diverse recycling applications, cultivating a culture of excellence remains central to our strategy. In 2026, we are intensifying our focus on talent development, leadership growth and building a high-ownership, high-accountability environment that drives continuous improvement across engineering, manufacturing, and service. This will set new benchmarks in the industry, and I believe Upadhyay will play a crucial role in this journey.”

Upadhyay said, “Fornnax’s strong positioning in high-capacity shredding solutions and its commitment to sustainable recycling deeply resonated with me. The company’s engineering strength and rapid growth trajectory present a powerful opportunity to build a world-class service organisation. In an industry where machine reliability directly impacts customer profitability, service becomes a direct driver of customer success. I am excited to elevate Service from a support function to a strategic growth enabler, which is specifically focused on uptime, lifecycle value and long-term partnerships.”

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