Apollo Tyres is reportedly planning to construct a green field facility in Eastern Europe as part of its overseas expansion plan. In this regard, the company will invest Euros 500 million. The board of directors of the leading automotive tyre manufacturer had already cleared this investment and the facility will be functional by 2017-18.
The new factory will mainly cater to the original equipment (OE) segment in Europe, which is becoming a critical market to the company. The company is yet to indentify the location of the project. Apollo already has an R&D facility for car and SUV segment in Europe.
Apart from this, the company would invest roughly Rs 2,000 crore in next three years to further consolidate its market share. The local plan includes expansion of the green field facility in Chennai and Kalamassery plant in Kerala.
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.
