Apollo Tyres chalks out three-fold expansion plan for West Asia

Apollo Tyres rolled out its plan for a three-fold expansion in business in the next one year to $100 million (Rs 450 crores) in West Asia, through group subsidiary Apollo Tyre Middle East (ATME) Ltd in Dubai. Sales are expected to rise up to $250 million in three years.

The entire demand in the region will be catered by Apollo's Indian operations. India currently contributes 62 per cent of the group revenue of $2 billion as on March 2011. Apart from India, Apollo has operations in South Africa (Apollo Tyres South Africa) and the Netherlands (Apollo Vredestein).

While the company's cross-ply truck/bus tyres and the passenger radials were already in sale; with its Chennai plant in place, Apollo will now target the dominating truck bus radial market in the region in a big way. The company expects truck-bus radials to contribute 25 per cent of sales in the region. Dubai will be our sales hub for the region including Iran, Iraq, Saudi Arabia and others. And, with supply logistics now in place in Dubai we will be able to cater even the smallest market segment in any of the countries in the region.