Truck tyre production at Apollo Tyres’ factory in Gyöngyöshalász, Hungary will begin before the end of September. According to Gaurav Kumar, chief financial officer of Apollo Tyres Ltd., production is scheduled to start during the July to September quarter and the ramp-up of truck tyre production will then continue and reach a maximum capacity of 1,200 pieces per day by the end of March next year.
During a conference call held this month, the chief financial officer of Apollo Tyres Ltd. confirmed that passenger car tyre production at the Apollo Vredestein plant in Enschede, the Netherlands would be reduced as capacity for these products grows in the company’s new, more cost-competitive facility in Gyöngyöshalász, Hungary. However, this trend shouldn’t be seen as a transfer of capacity, as the plan for Enschede going forwards is for its continued utilisation, with greater emphasis placed upon other segments.
Following serious flooding in Kerala state, India, Apollo Tyres wrote to the stock exchange warning of plan shutdowns in light of the adverse conditions.
Flooding in India’s Kerala state has claimed hundreds of lives since June and forced hundreds of thousands of people to leave their homes. It has also affected industry within the region. In letters sent to the BSE and the National Stock Exchange of India, Apollo Tyres reports that flooding has disrupted production at two of its tyre plants.
On 3 April, former Pirelli marketing director Alberto Viganò began a new role at Apollo Tyres. As general manager for the company’s two-wheel division he answers directly to Neeraj Kanwar, vice-chairman and managing director of Apollo Tyres, and is tasked with introducing motorcycle tyre lines in numerous markets – including Europe.
The mangrove conservation project, referred to as ‘Kannur Kandal project’, initiated by Apollo Tyres in partnership with Wildlife Trust of India (WTI), recently commemorated the UNESCO-mandated international day for conservation of mangroves at Kannur, Kerala. Honourable Mayor of Kannur Municipality, Ms E P Latha was the chief guest at this half-day event, which was attended by senior government and forest officials, representatives of Apollo Tyres and WTI, Community Members and Academia.
Apollo Tyres has voiced its pleasure at being ranked highest in the small car segment of the recently-released JD Power 2018 India Original Equipment Tyre Customer Satisfaction Index (TCSI) Study.
During the final quarter of its 2017-18 financial year, net sales at Apollo Tyres rose 22 per cent year-on-year to Rs 39.82 billion (£437.3 million). Operating profit increased 33 per cent to Rs 5.59 billion (£61.4 million), while net profit in the three months to 31 March 2018 was up ten per cent to Rs 2.50 billion (£27.5 million).
Deepening it’s connect further with Hungary, Apollo Tyres has partnered with DVTK – a local top flight football and sports club. Apollo is now looking at leveraging DVTK’s “passionate and massive fan base” to raise awareness of its brand among potential customers, business partners and consumer audiences in Hungary.
To mark the occasion of International Women’s Day, Apollo Tyres has inaugurated a rubber sheet making unit at Vellavoor Panchayat in Kottayam, Kerala. Established with the help of one of company’s reputed Suppliers, the unit was inaugurated by Adv S Jayasooryan, vice chairman, Rubber Board of India in the presence of the Panchayat President, other Rubber Board members and the team from Apollo Tyres.
Although Apollo Tyres Ltd. reports that its sales were up in the third quarter of its current financial year and exceeded Rs 40 billion for the first time ever, net profit for the period was lower year-on-year. The tyre maker’s net sales increased 16.9 per cent year-on-year in the three months to 31 December 2017 to Rs 40.16 billion (£451.1 million), while operating profit was up 1.1 per cent to Rs 5.43 billion (£61.0 million). Net profit was down -17.2 per cent to Rs 2.45 billion (£27.5 million).
Great Place to Work Institute has identified Apollo Tyres, India’s leading tyre maker, as one of India’s Best Workplaces in Manufacturing – 2018. The company is ranked among the top 10 workplaces in the manufacturing segment in India. Apollo Tyres has been rated highly for its transparency in performance management process, especially the variable pay, and the employee development programmes.
After opening its new European factory last year, Apollo Tyres is now focusing on expanding its manufacturing footprint at home. A ceremony was held today to lay the foundation stone of the tyre maker’s fifth plant in India and seventh facility worldwide. The new factory is located in Chinnapanduru, Andhra Pradesh state, and is expected to enter operation in mid-2020. Apollo Tyres is investing close to Rs 18 billion (£209.4 million) in the first phase of the new plant project.
Apollo Tyres has caught football fever in India – within the last month it has announced sponsorship deals with two clubs, Chennaiyin FC and Minerva Punjab FC, and now the tyre maker has become an official partner of the Indian Super League (ISL) for the current season. Its support of the ten-club championship will be manifest in campaigns planned for cities where matches are scheduled to take place during the remaining three months of the current season.
Days after announcing its sponsorship of Chennai-based club Chennaiyin FC, Apollo Tyres has shared details of a new agreement with Minerva Punjab FC (MPFC). Under a five-year contract, the tyre maker will act as title sponsor to the Mohali-based club. MPFC plays in the Hero I-League, which along with the Indian Super League is one of two premier football leagues in the country.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.