NEXEN TIRE Reports Record Q2 Revenue as European Expansion Drives Growth
- By TT News
- August 15, 2025
South Korean tyre maker posts USD 605m in sales, marking second consecutive quarterly record
NEXEN TIRE, the South Korean tyre manufacturer, reported record quarterly revenue of USD 605 million for the second quarter of 2025, driven by expanded European production capacity and strengthened sales in key markets, including the United States.
The company posted an operating profit of USD 32 million for the three months ended 30 June, maintaining stable margins despite headwinds from elevated raw material costs that emerged in late 2024.
The strong performance marked NEXEN TIRE’s second consecutive quarter of record revenue, underscoring its growth momentum amid continued uncertainty in the global automotive sector.
The revenue surge was primarily attributed to increased output following the completion of Phase 2 expansion at the company’s Czech Republic manufacturing facility, alongside targeted sales strategies tailored to regional markets.
NEXEN TIRE secured key supply volumes in advance, achieving what the company described as balanced growth across both original equipment manufacturer (OEM) and replacement tyre segments.
In the United States, sales continued to recover in the second quarter after experiencing a temporary decline in the latter half of 2024. The improvement was supported by the expansion of newly secured retail distribution channels.
The Asia-Pacific region also delivered strong results, with Australia and Japan achieving record sales volumes, backed by continued investment in distribution network development.
Operating margins remained under pressure from raw material cost inflation that began in late 2024, though the company noted that ocean freight costs provided some relief during the quarter. NEXEN TIRE expects profitability to improve in the second half of 2025 as key raw material costs have been trending downward since early this year.
The tyre maker has been building brand recognition through localised marketing campaigns across North America, Europe, the Middle East, and Asia-Pacific whilst expanding its retail presence through strategic partnerships with regional distributors.
In the first six months of 2025, NEXEN TIRE began supplying OEM tyres for 11 vehicle models, including the Hyundai NEXO, Kia EV4 and TASMAN, deepening its collaboration with global automakers, including premium brands.
The company said it would implement gradual price adjustments in the US market in response to recent tariff policy changes, whilst focusing on expanding its high-margin product portfolio and strategically reallocating global supply volumes to mitigate profitability risks.
“Despite persistent macroeconomic challenges, NEXEN TIRE achieved record-breaking sales for two consecutive quarters by maintaining balanced growth across both OE and RE segments,” said John Bosco (Hyeon Suk) Kim, chief executive of NEXEN TIRE. “We will continue to reinforce our global competitiveness through strategic partnerships and region-specific initiatives.”
The company maintains real-time monitoring of trade developments and flexible response mechanisms as bilateral trade negotiations continue to evolve.
Hankook Tyre UK Expands Truck And Bus Team With Two Key Appointments
- By TT News
- September 14, 2025
Hankook Tyre UK has expanded its Truck and Bus team with two key appointments. Jason Bloor has been appointed as National Account Manager, while Peter Hatton has been appointed as Regional Sales Manager for the combined Midlands and Northwest region.
Bloor, who will be overseeing national fleets activities, brings with him 34 years of experience in the tyre industry, while Hatton, who joined Hankook Tyre UK in May, has over three decades of expertise in the tyre and transport industry.
Chang-Yool Han, Managing Director, Hankook Tyre UK, said, “Following the opening of Hankook House, our new UK headquarters, we are pursuing ambitious growth plans for the UK market. We are delighted to welcome Jason Bloor and Peter Hatton to the team. Their extensive industry experience will undoubtedly make an immediate impact on the company’s continued success."
Bloor said, “I joined the tyre industry straight out of school in 1991 starting as a fitter where I discovered a passion for fleet management. Over the last 20 years, I have managed mileage contracts and key accounts, taking on responsibility in both sales and operations. I am excited to bring my decades of experience to Hankook and help drive brand awareness and strengthen customer relationships.”
Hatton said, “Having spent 30+ years working in the tyre and transport industry, I am privileged to be part of the Hankook UK team. The company offers an excellent range of tyre products across its premium Hankook brand and associate brand Laufenn. I look forward to applying my skills and experience in supporting both current and new customers while working alongside a brilliant team.”
CAMSO Construction Appoints Steffen Sahl As Sales Director Europe
- By TT News
- September 13, 2025
CAMSO Construction has appointed Steffen Sahl as Director of Sales for Europe. Sahl brings with him 25 years of experience in the European OTR mobility sector.
The company statement read: “With over 25 years of experience in the European OTR mobility sector, and a successful entrepreneurial journey in distribution, Steffen combines deep market insight with a customer-first mindset.”
“This is a tremendous opportunity, and I am filled with gratitude for everyone who has been part of my professional path so far. A huge thank you to my previous colleagues, mentors and teams – I carry your lessons and support with me. I am deeply honoured by the trust of the CEAT leadership, and am immensely looking forward to building on Camso's strong foundation, driving growth across European markets and collaborating with the talented team in the CEAT speciality family,” said Sahl on his appointment.
JK Tyre Secures Co-Presenting Sponsorship of Men's Asia Cup 2025
- By TT News
- September 12, 2025
JK Tyre & Industries Ltd, one of India's largest tyre manufacturers, has announced its partnership as co-presenting sponsor of the Men's Asia Cup 2025, as the cricket tournament begins its three-week run across venues in the United Arab Emirates.
The sponsorship deal with Sony Sports Network covers the Twenty20 International tournament running from September 9 to 28 across Dubai and Abu Dhabi, marking JK Tyre's expansion from its traditional motorsport sponsorship into cricket broadcasting.
The partnership positions JK Tyre to reach cricket audiences across India and Asia during prime-time broadcasts of the 19-match tournament, which features eight national teams competing for the continental title.
"At JK Tyre, we have always believed in the power of sport to unite, inspire, and drive passion. Having nurtured motorsport for over three decades, we are excited to bring the same spirit to cricket, a game that binds millions of fans across Asia," said Srinivasu Allaphan, Director-Sales & Marketing at JK Tyre & Industries Ltd.
"Our association with the Men's Asia Cup 2025 is a strategic step in strengthening our brand visibility across India and Asia and reinforcing our positioning as 'Desh Ka Tyre,' a brand that reflects the aspirations and passions of today's India."
JK Tyre, which has built its sporting credentials through decades of involvement in motorsport, is leveraging cricket's popularity to strengthen its market position across Asia's emerging economies.
The Asia Cup represents one of cricket's premier regional tournaments, with the current edition featuring teams including India, Pakistan, Sri Lanka, Bangladesh and Afghanistan amongst others. The tournament serves as preparation for next year's T20 World Cup.
InnoVent Technology Appoints Jose Rodriguez As CTO
- By TT News
- September 11, 2025
InnoVent Technology LLC has appointed Jose Rodriguez as its new Chief Technology Officer. He brings three decades of extensive experience in industrial digital systems, automation and simulation platforms to the role.
Rodriguez was most recently the Global Technical Authority at Wood Group, a multi-billion-dollar engineering firm, and previously served as CTO of Ingenious Inc., prior to its acquisition by Wood. In his new position, he will direct a global team focused on advancing the company's InnoSIM digital twin platform.
His leadership will be central to integrating commercial AI and automation systems, significantly boosting predictive modelling capabilities and deploying digital twin projects on an international scale. The appointment underscores InnoVent's strategic commitment to leading the industry through cutting-edge technological innovation and advanced digital solutions.
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