Apollo Tyres has received an approval for expansion of the Truck & Bus radial tyre capacity at the Chennai plant from the present 6,000 tyres per day to 8,900 tyres per day and conversion of the company’s leased operations at Kalamassery plant from bias truck tyres to speciality/industrial tyres involving capex of $340 million.
The board of directors at its meeting held on July 02, 2014, has approved for the same. The board also approved to increase in the limit of investments by FIIs from 40% to 45% in the equity share capital of the company.
Apollo Tyres produces the entire range of automotive tyres for ultra and high speed passenger cars, truck and bus, farm, off-the-road, industrial and specialty applications like mining, retreaded tyres and retreading material. These are produced across Apollo’s eight manufacturing locations in India, Netherlands and Southern Africa.
Company Name | CMP |
---|---|
MRF | 125165.70 |
Apollo Tyres | 480.50 |
CEAT | 2357.65 |
Balkrishna Inds. | 2450.45 |
JK Tyres & Inds. | 397.25 |
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