JK responds to Apollo Michelin link

JK Tyres has responded to the Apollo Michelin JV by saying that it is open to an equity tie with Continental. “We are in constant dialogue with Continental. India is an important market for them.

It’s one of the potentially developing markets. It is a possibility that we can enter an arrangement with them,” JK Industries MD, R. P.

Singhania said. Singhania is not worried about Michelin’s entry into the Indian tyre market. It will not pose a big threat to JK Tyres, he said.

“We have been producing truck and bus radials for the last four years and have foreseen the market and opportunity. We have radialised the Indian market to the extent of 1.5 per cent.