Apollo Tyres, a leading tyre manufacturer is planning to invest Rs 300 crore in its Kalamassery unit in Kerala in the next two years, as it plans to make it an export unit for industrial tyres. The tyre maker also plans to introduce premium Dutch brand of tyres, Vredestein, later this year.
The Kalamassery unit will manufacture industrial tyres to export to Europe, South America and North America. The tyre maker has acquired two companies in South Africa and Europe in the last six years and is also looking for the greenfield projects in Eastern Europe.
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 | 129525.55 |
| Apollo Tyres | 430.50 |
| Ceat | 3489.45 |
| Balkrishna Inds. | 2235.70 |
| JK Tyres & Inds. | 397.10 |
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