Apollo Tyres, a leading tyre major, has closed the transaction with Sumitomo Rubber Industries (SRI), where in SRI takes over Apollo Tyres South Africa (ATSA) including the Ladysmith passenger car tyre plant and Dunlop brand rights in 32 countries of Africa for $60 million. Apollo retains the Durban plant which manufactures Truck & Bus Radial (TBR) tyres and Off Highway tyres (OHT) used in the mining and construction industries.
Post this transaction, Apollo Tyres will continue to sell Apollo, Vredestein and Regal branded tyres in Africa. Both companies will also undertake contract manufacturing of their respective brands at each other’s facility to have locally manufactured products available for the market.
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 | 139772.66 |
| Apollo Tyres | 445.30 |
| CEAT | 3713.55 |
| Balkrishna Inds. | 2329.80 |
| JK Tyres & Inds. | 428.30 |
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