Tyre major Apollo Tyres is targetting higher revenue from overseas operations in the next five years and will pump in another Rs 3,000 crore in three years. Currently, its overseas operations generate around 40 per cent of the total group revenue and the rest comes from the domestic market.
Besides, the company has invested Rs 2,500 crore in a greenfield plant at Chennai to ramp up car and commercial vehicles radial tyre capacity. It has combined tyre processing capacity of 1,450 tonnes per day, which will be increased to 1,600 tonnes per day by the end of the current fiscal.
The company is open to acquisitions and greenfield manufacturing facilities in East Europe and Asia to meet the growing demand. Apollo Tyres is also scouting for opportunities in rubber plantations in South Asian countries for raw material security.
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