After initiating a radical reconstruction at the start of 2015, one of the world’s biggest tire recyclers – Genan Holding – has recently presented its first annual report. Although considerable impairment has negatively affected the 2015 report, the core business of the group does show a stable profit performance.

The most crucial prerequisite for Genan’s sustained existence, according to chairman of the board Peter Thirsen, is that a considerable profit of the group result from its core business – the sale and production of rubber powder and granulates through environmentally right tire recycling.

Thorsen said, “Overall, the board of directors regard 2015 as a dissatisfactory year. Yet, first and foremost, we note that the core business is developing in the right direction, already providing reasonable earnings. We work in patience, acknowledging the fact that the 2015 and 2016 fiscal years will be significantly affected by non-operational items in the form of financial impairment and waiver of debt. Not until 2017 onwards will the annual report reflect the core business, and it is thus pivotal to determinedly follow the plan supported by both owners, board, management and staff.”

Poul Steen Rasmussen Image source:

Poul Steen Rasmussen
Image source:

In September 2015 Poul Steen Rasmussen has been recruited for ensuring a progressive development of the core business. “There is no doubt that Genan has a very large business potential – in Europe as well as in the USA and in other parts of the world,” Rasmussen commented. “Sustainability and recycling are increasingly gaining currency, and in respect of products like ours, time is on our side.”



Article source: Tire Technology International