Fornnax Technology, a renowned pioneering force in the industry of tyre recycling solutions, has yet again demonstrated its commitment to excellence by attaining the prestigious Best Tyre Recycling Industry Supplier Award at the Recircle Awards 2023. The award ceremony, a highlight of the Futurmotive Expo & Talks Event held in Bologna, Italy on Thursday, November 16, 2023, celebrated industry leaders and innovators contributing significantly to sustainable practices in the tire recycling sector.
The award is evidence of Fornnax’s continuous commitment to using its cutting- edge fleet of machinery to push the envelope of innovation in tyre recycling technology. Intending to transform the sector and tackle the worldwide issue of tyre waste, Fornnax has constantly proven its dedication to ecological sustainability and the concepts of the circular economy.
In addition to effectively recycling tyres nearing the end of their useful life, Fornnax’s award- winning technology places a strong emphasis on the production of high-quality recycled materials. This creative solution fits in well with the ongoing movement to reduce carbon footprints in industrial processes and to find more environmentally friendly alternatives. Modern equipment, astute automation, and a strong dedication to environmental stewardship distinguish Fornnax Technology’s tyre recycling solutions. The company’s tyre recycling machines are designed to maximize resource recovery, minimize environmental impact, and contribute to a more endurable future with adherence to several political policies established in foreign industries. Fornnax’s leadership and revolutionary influence on the tyre recycling landscape are acknowledged with the Best Tyre Recycling Industry Supplier Award at the Recircle Awards 2023. It is an affirmation of Fornnax’s unceasing efforts to push the limits of technological innovation and create new benchmarks for quality in the tyre recycling sector. While we commemorate this historic accomplishment, Fornnax Technology is dedicated to continuing to advance tire recycling technology and have a positive impact on a cleaner, greener future for the earth. More than just recognition, the Best Tyre Recycling Industry Supplier Award represents Fornnax’s continued dedication to environmentally conscious business operations.
Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.
Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.
According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.