Apollo Tyres Owned Zimbabwean Fast Fit, Retreader Restructures

Zimbabwe’s National Tyre Services (NTS) is in the process of finalising a strategic restructuring exercise to rationalise its operations. Dunlop Group (Dunlop Zimbabwe, owned by Apollo Tyres, is a major shareholder in NTS) managing director Kennedy Mandevani, recently appointed to oversee operations at the distributor and retreader, said the exercise would also increase the company’s operational efficiencies.

“Given the trading environment, the exercise brings NTS and Dunlop Zimbabwe closer to each other in order to deliver increased synergistic benefits to all stakeholders,” Mandevani said. “The right-sizing and restructuring will see a more flexible and customer focused entity poised to take advantage of current and future opportunities.” Mr. Mandevani added that NTS has maintained a strong presence in key geographical locations in order to maintain its market share.

In addition to retailing new tyres, NTS retreads tyres under a strategic franchising partnership with Bandag. The company also provides fast fit services, including fitting, balancing, wheel alignment and tyre management systems. To overcome Zimbabwe’s currency woes, the Reserve Bank of Zimbabwe has issued a number of NTS outlets with licences to trade in foreign currency. “The licences enable NTS to import more raw materials and tyre stocks thus increasing production and eliminating the middleman and resulting in competitive pricing to customers,” Mandevani said.