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Apollo Tyres reports positive third quarter results

For the quarter ended December 31, 2021 Apollo Tyres Ltd, on a consolidated level, registered a revenue of Rs 5707 crores, an increase of 10% over the same period last fiscal. For the nine months of the fiscal (April – December), the company’s revenue closed at Rs 15,369 crores, an increase of 24% over the same period last fiscal. Both Indian and European Operations witnessed a growth of 11% each, in revenue, in the 3rd quarter, and much healthier revenue growth in the nine months of this fiscal.

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Giti Tire introduces Drive Your Creativity campaign

As part of its efforts to highlight the importance of sustainability, Giti Tire has introduced a new ‘Drive Your Creativity’ campaign. Through this spring, Giti will be focusing on communications that highlight the importance of sustainable thinking when it comes to tires, as well as some of Giti’s actions and how everyone can be involved in supporting smart tire use in a responsible way.

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Elkem Silicones USA Corp. has become the newest member of South Carolina’s Biotechnology Innovation Organization, SCBIO

Elkem Silicones USA Corp. has become the newest member of South Carolina’s Biotechnology Innovation Organization, SCBIO.
SCBIO is a statewide, not-for-profit, public/private life sciences industry association and economic development organization formed to actively promote, build, support, expand, and convene South Carolina’s life sciences industry.

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The tire testing machine market to reach $730 million by 2031

According to a study by ESOMAR-certified market research and consulting firm, the tire testing machine market to reach US$ 730.8 Mn by the end of 2031, growing at a CAGR of 4.6% over the forecast years (2021-2031). Their increasing application in testing tires for four wheelers will continue supporting growth. As per market intelligence study, four-wheelers account for above 30% of sales in market.

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Market ReportsNewsrss3

International Rubber Studies Group release latest industry outlook

The December 2021 edition of the World Rubber Industry Outlook (WRIO) is now available. The current forecast in WRIO comprises two economic scenarios: Base Case Scenario rooted from the IMF’s base line GDP forecast; Downside Scenario which imply the continuation of the of the COVID-19 in the near-to-medium term and assess its implications for the rubber economy. Advanced economies seem to be more negatively impacted than emerging market economies and a gradual recovery back toward Base Scenario will only commence from 2026

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