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Apollo Tyres to further raise TBR tyre capacity in Chennai

Only quite recently Apollo Tyres Ltd gave word that truck and bus tyre production capacity at its factory Chennai, India would increase from 6,000 to around 9,000 tyres per day, yet the company has now announced a further truck and bus tyre capacity boost for the plant. A filing submitted to the BSE following a meeting of Apollo’s Board of Directors on 11 August shares the tyre maker’s plan of outlaying a capital expenditure of Rs 12 billion (£118.7 million) to further expand truck and bus radial capacity in Chennai from the currently planned 8,900 tyres per day to 12,000 tyres per day.

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  1. Apollo Tyres lifts profit margin to 18.7% in April-June quarter
  2. Apollo Tyres opens €475 million greenfield Hungarian plant
  3. Apollo Shares Drop Following Lock-Out
  4. Slight slowdown in India’s radialisation
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Apollo Tyres lifts profit margin to 18.7% in April-June quarter

Unaudited financial results for the first quarter of Apollo Tyre Ltd’s 2015-16 financial year were released yesterday, and these show a year-on-year rise in the company’s operating and net profits despite lower net sales.

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Related news:

  1. Apollo Tyres maintains turnover, increases profits
  2. Apollo Tyres looking for ‘healthy topline growth’ after 22% sales increase in FY 2017-18
  3. Apollo Tyres to further raise TBR tyre capacity in Chennai
  4. Apollo Tyres maintains revenues, increases profits
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Subsidies no remedy for low rubber prices – Onkar Kanwar

Falling natural rubber prices have driven output in India down, and many anticipate that tapping of natural rubber will soon reach its lowest point in almost two decades. Last month the state of Kerala announced an Rs 150 (£1.51) per kilogramme subsidy to help small-scale producers, however Onkar Kanwar believes that subsidy programme such as this can only be of limited help.

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  1. Kanwar speaks on Cooper and future growth at Apollo AGM
  2. Apollo Tyres: Raw material prices drags profit down 72%
  3. Apollo Tyres lays foundation stone for 7th factory
  4. Apollo Tyres to further raise TBR tyre capacity in Chennai
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Test victory a ‘testimony’ to Vredestein tyre development

Apollo Tyres says the Vredestein Quatrac 5’s victory in the all-season tyre test published by Auto Bild Allrad this month shows the level of research and testing it puts into the development of its products. In its test of six size 215/65 R15 SUV tyres, the German motoring magazine described the Vredestein Quatrac 5 as “outstanding in the snow” while demonstrating “respectable grip on dry and wet roads” and “very low rolling resistance”. With a score of 2618 N (Newton) traction on snow, the Vredestein all-season product was judged to be “virtually on par with genuine winter tyres.”

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  1. Vredestein points to strong summer tyre test showing
  2. Apollo comments on Alnac 4G All Season Auto Bild tyre test result
  3. 19 finalists chosen for 2015 AutoBild winter tyre test
  4. Auto Bild Allrad: ‘top-class’ performance from Apollo in winter tyre test
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Court dismisses Cooper Tire shareholder lawsuit

The US District Court in Delaware has dismissed the class action against Cooper Tire & Rubber that followed the unsuccessful Apollo Tyres acquisition attempt. The lawsuit, which was filed in January 2014, alleged the tyre maker, along with CEO Roy Armes and CFO Bradley Hughes, violated US federal securities laws by misrepresenting its financial condition, financial prospects, and the effectiveness of its internal controls. The action was filed by law firms Entwistle & Cappucci LLP and Bernstein Litowitz Berger & Grossmann LLP on behalf of Cooper Tire investors OFI Risk Arbitrages, OFI Risk Arb Absolu and Timber Hill L.L.C.

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  1. Cooper Appoints New HR Senior VP
  2. Cooper counters Apollo offer reduction talk with statement
  3. Cooper not yet ready to resume financial reporting
  4. Long awaited Cooper 2013 3Q report reveals Apollo, Chengshan damage
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Apollo appoints J. Walter Thompson as global creative agency

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Apollo Tyres has appointed J. Walter Thompson Company as its global creative agency. According to Apollo, the agency won after a multi-agency pitch. J. Walter Thompson Company replaces Apollo Tyres’ earlier agency, The Brooklyn Brothers.

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  1. Apollo’s acquisition of reifen.com a ‘sound strategic extension of the value chain’
  2. Apollo Tyres opens €475 million greenfield Hungarian plant
  3. 750 jobs to go at Apollo Vredestein’s Netherlands plant
  4. New kid on the block: Vredestein launches full North American range
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Apollo preparing for TBR sales surge in Iran, anticipates post-sanctions boom

Some 300,000 commercial vehicle tyres are sold in Iran every month, reports Apollo Tyres, with radials accounting for approximately 60 per cent of the total. The tyre maker began selling TBR tyres in Iran more than two years ago and now states that it aims for an unspecified but “significant” increase in sales of these products in the country before the current financial year ends on 31 March 2016.

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  1. Apollo Tyres to further raise TBR tyre capacity in Chennai
  2. Exclusively online & direct from manufacturer: European launch for Apollo TBR tyre range
  3. Apollo truck tyre range ‘fully retreadable’
  4. Slight slowdown in India’s radialisation
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Apollo Tyres promotes Gaurav Kumar to CFO

A replacement has been found for Raj Banerji, who resigned as Apollo Tyres’ chief financial officer after less than two months in the job. Gaurav Kumar, previously group head of corporate strategy and finance, has taken on the role and will oversee Apollo Tyres’ global accounts, finance, taxation and investor relations from the company’s headquarters in Gurgaon, India. He reports to vice-chairman and managing director, Neeraj Kanwar.

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  1. Banerji to help Apollo Tyres over the ‘cusp of next global growth phase’
  2. Francesco Gori appointed as Apollo Tyres advisor for strategy
  3. Francesco Gori now an Apollo Tyres director
  4. Apollo Tyres’ management takes coronavirus pay cut
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Apollo Tyres’ recently-appointed CFO resigns

Apollo Tyres informed the BSE on 2 May that it has “reluctantly accepted” the resignation of Raj Banerji, the company’s chief financial officer. Banerji informed the tyre maker of his decision on April 30, less than three months after Apollo Tyres first announced his appointment to the role.

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Related news:

  1. Banerji to help Apollo Tyres over the ‘cusp of next global growth phase’
  2. Apollo Tyres promotes Gaurav Kumar to CFO
  3. Apollo to establish Singapore base, redesignates Sarkar as chief business officer
  4. Apollo Tyres partners with truck manufacturer for India healthcare initiative
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Apollo lays foundation of Hungary Greenfield tyre manufacturing plant

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Construction of Apollo Tyres’ first European Greenfield plant in Gyöngyöshalász, Hungary, officially began on 10 April 2015, with a foundation stone laying ceremony. The international tyre manufacturer’s facility will start production in early 2017. The facility will produce both, Apollo and Vredestein branded tyres and will cater to the entire European market.

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Related news:

  1. Reports: Apollo chooses Hungary for new tyre factory
  2. European Commission says Hungary to host Apollo’s new tyre plant, endorses proposed investment
  3. Apollo Tyres aiming for 20/80 OEM-replacement mix in Europe
  4. Apollo Tyres: Netherlands car tyre production down, but not out
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Apollo increases retreading focus in India

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Apollo Tyres inaugurated its third Apollo Retread Zone (ARZ) in Mumbai, in the western part of India. Rajesh Dahiya, Group Head, Sales-APMEA (Asia Pacific, Middle East & Africa), Apollo Tyres Ltd inaugurated the outlet in Turbhe, Navi Mumbai. With the objective of providing quality retreading service to truck-bus customers and fleet owners, these branded outlets are equipped with most advanced retreading machines, high quality tread material and trained workers. The move demonstrates Read more

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  1. Apollo Tyres Launches Retread Range
  2. Apollo Tyres Begins Retread Production
  3. Apollo Opens First India CV Tyre Outlet
  4. Chinese Retreading Market Presents World of Opportunity
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Vredestein points to strong summer tyre test showing

Vredestein representatives are highlighting the results the brand’s summer tyres have achieved in recent independent tyre tests. The Vredestein Sportrac 5 and Vredestein Ultrac Vorti were rated highly in various independent European tyre tests across dry handling, sound level and fuel consumption tests.

German car magazine Auto Bild, the German and Austrian automobile clubs ADAC and ÖAMTC, and the consumer organisation Stiftung Warentest subjected the all-round model Vredestein Sportrac 5 and the Ultra High Performance tyre Vredestein Ultrac Vorti to their multipurpose testing programmes.

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  1. ‘Green’ Vredestein Quatrac Lite launched
  2. Test victory a ‘testimony’ to Vredestein tyre development
  3. Vredestein motorcycle tyre range coming in 2019
  4. Alberto Vigano on Vredestein’s new two-wheel range
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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.

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Related news:

  1. Alcoa doubles Hungary truck wheel production
  2. Nexen Tire signs Czech plant deal, ups investment to $1.17 billion
  3. European Commission says Hungary to host Apollo’s new tyre plant, endorses proposed investment
  4. Apollo lays foundation of Hungary Greenfield tyre manufacturing plant
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Apollo moves European truck tyre OE R&D to Enschede

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Attending the Geneva Motor Show is about original equipment (OE) positioning as much as it is about brand building. So when ambitious and fast-growing firms such as Apollo Tyres continue to make significant investments in such an exhibition it provokes questions about the company’s OE strategy. Geneva may ostensibly be about the latest and best cars, but our conversation with Apollo executives quickly shifted to the commercial vehicle tyres sector. Tyres & Accessories spoke with Apollo Tyres vice-chairman and managing director Neeraj Kanwar as well as chief business officer Sunam Sarkar in order to find out more about this as well as to consider the company’s future retreading options.

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Related news:

  1. Apollo Tyres opens €475 million greenfield Hungarian plant
  2. Hungary confirmed for first Apollo greenfield factory outside India
  3. First truck tyres shipped from Apollo Tyres’ Hungary plant
  4. Apollo developing tyres for Indian military
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Pedro Matos appointed as chief quality officer at Apollo

Former Continental manager, Pedro Matos, has been appointed as the chief quality officer at Apollo Tyres Ltd. He will be based at the company’s “Global Quality and Business Excellence Office” in Enschede, The Netherlands and will handle the entire portfolio of quality and business excellence in the organisation.

Commenting on Pedro’s appointment, Neeraj Kanwar, vice chairman & managing director, Apollo Tyres Ltd said: “As we grow our business across geographies, the scope of quality as a function has grown multifold. With Pedro’s well-rounded experience in benchmarking, developing and implementing best management systems and processes, he is best-suited to handle this critical function at Apollo Tyres.”

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Related news:

  1. Apollo Hosts Three-Day India Conclave
  2. Cooper appoints marketing VP
  3. Apollo Tyres launches 2015 Hungary recruitment drive for ‘100s of technicians’
  4. Matos to lead Apollo Vredestein’s OE strategy in Europe
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