India, Aug. 26 -- In an unfortunate incident, a fire broke out at Contec's tyre facility in Szczecin during the night of 23-24 August. The company confirms that all 10 employees on site were safely evacuated thanks to the effective response of emergency services, with no injuries reported. While the situation is now under control, the incident resulted in significant material damage and a complete halt to production operations.

The company has expressed profound disappointment at the damage to an installation that had operated safely for over a decade. The timing is especially difficult given recent operational achievements. As an independent entity, Contec had successfully been converting 85 percent of end-of-life tyres into circular raw...