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Apollo Tyres is now sourcing 100% of its natural rubber supplies from companies who have committed to sustainability throughout the supply chain, aligning with the code of conduct set out by the Global Platform for Sustainable Natural Rubber (GPSNR). The new initiative, which came into full effect recently, and forms part of Apollo Tyres’ Global Sustainability Strategy, applies to the supply of natural rubber to the company’s two European production facilities in the Netherlands and Hungary.

U.S.-based manufacturer Marsh Bellofram is being recognized for its commitment to safety in the workplace. The Association for Rubber Products Manufacturers (ARPM) will honor the company at its 2023 Safety Awards by recognizing Marsh Bellofram in its Best Safety Practice category.

Specim, Spectral Imaging announces the next-generation near-infrared line-scan hyperspectral camera, Specim GX17, for advanced machine vision. The new Specim GX17 complements Specim’s highly successful FX camera series, the first hyperspectral cameras designed specifically for industrial use.

GRI announces the appointment of Mr Giorgio Gramegna as Director for Europe and Mr Simon Michael as Director for MEA & South America. GRI, one of the leading specialty tire companies, continues to expand its presence worldwide and these appointments signal the company’s commitment to being close to and serving customers in those regions.

Smithers announced that it’s reached a definitive agreement to purchase Midway Lab in Columbus, Ohio. This transaction represents Smithers intent to enter the Ohio cannabis testing market. The sale is expected to be completed in Q3 2023 subject to customary closing conditions, including regulatory approvals.

Continuing Sumitomo Rubber North America’s (SRNA’s) policy of promoting personnel from within, Rob Montasser has accepted the position of Vice President, Replacement Sales effective January 1, 2023.

First Quarter 2023 Financial Highlights include Net sales of $215.7 million compared to $225.5 million in the prior year period. Gross margin of 32.9%, up 100 basis points versus the prior year period. GAAP net income per diluted share of $0.35 compared to $0.47 in the prior year period. Adjusted earnings per diluted share of $0.38 compared to $0.50 in the prior year period. Cash flow provided by operations was $25.8 million and free cash flow was $16.7 million.

Hankook Tire & Technology (Hankook Tire) has announced sales of KRW 2,104.0 billion and an operating profit of KRW 190.9 billion based on global consolidated financial results for the first quarter of 2023. Both sales and operating profit increased by 17.5% and 51.5% respectively year-over-year (YoY

The first quarter was characterized by muted economic activity and weak demand, with customers still destocking, especially in the first weeks of the new year. Overall, sales fell 11 percent to 4.0 billion euros. Volumes declined by 14 percent. Higher prices offset some of the volumes lost and compensated for inflation effects. Earnings before interest and taxes, depreciation and amortization (adjusted EBITDA) declined by 44 percent to €409 million.

Elliott is one of Goodyear’s largest investors because it has strong conviction in the significant value-creation opportunity achievable at the Company, the letter said. Despite the Company’s strong brand, leading market share and favorable industry tailwinds, Goodyear’s stock has meaningfully and consistently underperformed. The Company’s poor stock performance is a direct result of its significant margin erosion, suboptimal go-to-market strategy, and unfocused brand strategy, which have collectively led to a loss of investor confidence, according to the letter.