Apollo Tyres Archives - Page 30 of 48 - Tyrepress

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Indian fleets honoured at Apollo awards ceremony

On 23 January Apollo Tyres held its inaugural Apollo Fleet of the Year awards. With the awards, the tyre maker’s aim was to acknowledge the importance of safety, technology, sustainability and customer service initiatives to fleet operators in India. Taking away the large operator award was VRL Logistics, while Sangha Freight Carrier secured the honour in the medium operator category. The two top winners and other awardees were selected from more than 5,140 entries received from fleet operators across India.

24th January 2012/by Tyrepress Editors

Margins still tight in India despite lower rubber prices

The recent easing of rubber prices was understandably welcomed by tyre manufacturers, yet it represents no panacea for the industry; other costs, notably for energy, continue their upward trend. In India, these issues are accompanied by a weakening rupee. Financial daily the Business Standard reports that despite a 15 per cent fall in natural rubber prices, India’s tyre makers are facing ever tighter operating margins.

21st December 2011/by Tyrepress Editors

Apollo still confident of global growth

In an interview with the Hindu Business Line, Apollo Tyres vice-chairman and managing director Neeraj Kanwar stated he expects to see more gains like those the company experienced in Europe during the second quarter of the financial year. “The trend will continue, Kanwar told the paper. “Already we are seeing good growth even in Q3. In fact, in Europe, Q3 will be much better than Q2, both on sales and profitability.”

28th November 2011/by Tyrepress Editors

Ready for launch: Vredestein Wintrac Nextreme SUV

At the Essen Motor Show in Germany, which gets underway on 25 November, Apollo Vredestein will present the Vredestein Wintrac Nextreme SUV, a tyre initially displayed at last year’s Reifen Essen show. Capacity restrictions prevented the tyre from being introduced in time for the winter of 2010/11; now the tyre maker is ready to bring its new 4×4 product to market. No mention has been made on a release date for the passenger car version of the Wintrac Nextreme, which was also shown at Reifen Essen.

24th November 2011/by Tyrepress Editors

Apollo Tyres ordered to return 4.95% ‘Harshad Mehta share’

Almost 20 years ago, Harshad Mehta achieved infamy in India through an engineered rise in the Bombay Stock Exchange that became known as the ‘securities scam’. After the stock broker’s activities came to light in mid-1992, a number of Mehta’s assets were sold off as part of court proceedings. This sale included 5,488,850 shares in Apollo Tyres, equal to 15.1 per cent of the company’s equity, which were purchased by Apollo and its managing family the Kanwars in April 2003. Now the Supreme Court in New Delhi has ordered Apollo Tyres to return a portion of these acquired shares to the Mehta family custodian. A two-judge Supreme Court bench accepted in part the appeal of Ashwin Mehta, brother of Harshad Mehta (who died in 2002) challenging the Mumbai Special Court’s 2001 order that allowed the sale of bulk holding shares back to Apollo Tyres.

10th November 2011/by Tyrepress Editors

Despite positive H1 results, Apollo wary of slowing growth

Commenting on a half-year that saw the increase in Apollo Tyres’ net profit fall behind sales growth, company chairman and managing director Onkar Kanwar noted that “currency fluctuations, especially a weaker rupee, and continued cost push have impacted our bottom line.” Kanwar described the “near flat growth” in India’s commercial vehicle tyre segment during the first half of the country’s fiscal year as “worrying” and a situation that “could pose a challenge in the coming quarters.” The Apollo chairman said the company’s European business is currently registering strong growth, however his view of the region remains cautious: “We are alert to the broader economic situation there and are keeping a close watch on developments,” he stated.

9th November 2011/by Tyrepress Editors

Amtel-Vredestein debt dispute to be heard on 26 October

A commercial court will hear on 26 October TIRE Invest's 42.256 million euro lawsuit against Holland's Amtel-Vredestein N.V., the court told the Russian Legal Information Agency (RAPSI). Nomos-Bank was the initial plaintiff, but reportedly assigned its claims to TIRE Invest last summer.

25th October 2011/by Tyrepress Editors

Tread depth measurers – the new speed camera?

Earlier this year, Tyres & Accessories reported on one tyre maker's installation of a tread depth measurement unit at its premises in the Netherlands. Similar equipment may become a familiar sight to British motorists in the future – and not everybody is pleased about this.

30th September 2011/by Tyrepress Editors

Goodyear India Awarded Superbrand Status

Goodyear India Ltd was awarded the 'Superbrand' status at a ceremony held in New Delhi 3 August. The award was received by Rajeev Anand, vice chairman and managing director, Goodyear India Ltd. Goodyear India garnered one of the highest scores amongst an assortment of companies and is reportedly the only tyre company in India to receive this recognition.

4th August 2011/by Tyrepress Editors

Apollo book released for growing 4×4 market

Saloon car owners here in the UK have long drawn pleasure from deriding the “Chelsea tractor”, and giving drivers of off-roaders ample guff about their vehicles’ environmental hostility and shyness to leave the tarmac is a firmly entrenched part of our motoring culture. But it seems that over in India the 4×4 has yet to be tarred with this brush. Recognising their widespread appeal, Apollo Tyres has released a 4×4 coffee table book in conjunction with Autocar India.

18th July 2011/by Tyrepress Editors

Apollo, JK Tyre pondering rubber plantation investments

Existing speculation on Apollo Tyres’ intention to branch into the natural rubber segment has been boosted by an article in India’s Business Standard newspaper. This suggests that both Apollo and JK Tyre may be in the business for plantations in Southeast Asia. The two tyre makers’ dependence, along with their competitors, upon ever more expensive spot market purchases has locked them into a situation where external factors determine the price they must charge for their products; the attractiveness of eliminating reliance upon the fickle natural rubber market is therefore very easy to understand.

12th July 2011/by Tyrepress Editors

Sivik 3D balancers “providing extremely positive feedback”

Relative newcomer to international tyre and automotive servicing machinery Sivik has a comprehensive range of quality products that has seen exports increase, first from its Siberian home and now from its Slovakian sales office, as export manager Nikolay Valov told Tyres & Accessories in Bologna: “It was around six years ago that our marketing strategy was broadened, initially to develop sales in traditional Eastern bloc countries, but gradually this evolved to include several countries in Western Europe and beyond.

1st July 2011/by Tyrepress Editors

Apollo fleet awards aimed at encouraging best practices

In order to recognise and reward fleet operators who fuel the growth of India’s economy, Apollo Tyres has introduced the Apollo Fleet of the Year Awards. Through these awards, Apollo intends to annually honour commercial vehicle fleets that operate in India and encourage the uptake of innovative practices within the sector. The tyre maker says it is “looking to create a platform for information exchange and sharing of best practices within the transportation industry, enabling more and more fleet owners to move up the value chain.” The first awards ceremony, covering four categories, will be held in September 2011.

17th June 2011/by Tyrepress Editors

Apollo still on track to introduce Vredestein into India

Despite a later than originally anticipated timeframe, the manufacture of Vredestein brand tyres is still expected to begin in India before the end of 2011. Satish Sharma, the chief of India operations for Vredestein parent company Apollo Tyres, has been quoted as saying “we may start rolling out Vredestein tyres from our Chennai or Vadodara factory in three to six months.” He noted, however, that initial production quantities would be very low.

14th June 2011/by Tyrepress Editors

Apollo opens first CV service centre

Apollo Tyres has opened what it says is “India’s first full-service commercial vehicle tyre outlet.” Located on the outskirts of Delhi, the first Apollo CV Zone was inaugurated by company chairman Onkar S Kanwar on May 30; the tyre maker now plans to establish a network of outlets across India.

30th May 2011/by Tyrepress Editors