Apollo named a Hungary ‘Investor of Year 2014’

Apollo Tyres has been named as a Hungary ‘Investor of the Year 2014’ under the ‘Largest Greenfield Investment of the Year’ category. The award is instituted by the Hungarian Investment Promotion Agency (HIPA) and the Ministry of Foreign Affairs and Trade. The winners were announced during its third annual award ceremony held in Pesti Vigado in Budapest.

The Ministry of Foreign Affairs and Trade and HIPA present the awards in eight categories to companies on various parameters. Some of the other renowned companies like GE Hungary, Nokia Solutions & Networks, Autoliv and Miskolc South Industrial Park also bagged the awards in other categories.

Apollo Tyres announced a total investment of 475 million euros in Greenfield car and truck tyre production facility about a hundred kilometres from Budapest in Autumn 2014. The investment creates about 975 jobs and the first will officially break ground on the development shortly.

Tyrepress recently met with senior Apollo executives at the recent Geneva Motor Show, where we discussed OE and R&D developments. ‘Apollo moves European truck tyre OE R&D to Enschede‘ can be read here.