Apollo Tyres is planning a facility in Eastern Europe to manufacture passenger car radials. The company launched its Apollo branded tyres in the European market a few months ago and has been selling an average of 50,000 units of truck radials every month entirely for the replacement market,
Apollo, which already owns a facility in the Netherlands – Apollo Vredestein BV, is now on the look out for another facility – either through acquisition or a green field unit in Europe to meet the increasing demand for passenger car radials there.
The company expects to achieve Chennai terminal capacity of 16,000 passenger car tyres and 6,000 commercial vehicle tyres a day by early 2012. The company recently invested an additional Rs 500 crore in the Chennai facility, taking the total investment to Rs 2,100 crore. The company may also consider increasing its tyre prices in India as margins have been under severe pressure thanks to spiralling input costs.crackcrack
Company Name | CMP |
---|---|
MRF | 128501.00 |
Apollo Tyres | 489.45 |
CEAT | 2391.20 |
Balkrishna Inds. | 2647.00 |
JK Tyres & Inds. | 398.75 |
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