Apollo Tyres Archives - Page 44 of 48 - Tyrepress

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Ceat Identified as Strong in OTR Sector

The online stock broking firm India Infoline has recommended Ceat Ltd as a recommended buy only a day or so after making a similar recommendation regarding Apollo Tyre. India Infoline describe Ceat as a ‘diversified tyre major’ who is ‘ramping up its production facilities to benefit from the uptrend in [the] automobile industry,’ and claims the tyremaker has plans in the pipeline that will see its OTR capacity more than doubled from 40,000 to 100,000 units per year.

Tyres & Accessories has previously reported on the company’s intention to establish three new greenfield facilities, one of which would function as a ‘speciality tyre’ plant for OTR tyres. In addition to OTR investment Ceat intends to spend Rs200 million (£2.4 million) upgrading its passenger car tyre production facilities and increasing output in this segment.

19th April 2007/by Tyrepress Editors

Apollo Tyres Begins Retread Production

Apollo’s first DuraTyre branded retread rolled off the production line at the company’s Gurgaon, Haryana, greenfield site. According to an Apollo statement, the tyre marks the first time that a branded retread has been produced at a Greenfield site in India. The commercial launch is scheduled for May 2007. This makes Apollo Tyres the only Indian tyre Chairman & Managing Director of Apollo Tyres Ltd, Mr Onkar S Kanwar, said: “We have made a beginning here and by the end of the year we are targeting a four-fold increase in production. In three year’s time, we are looking at a turnover of 5 billion rupees from DuraTyre. It is a hasslefree, ready-made product for customers looking at retreading as an option. This is also the right time to introduce this product given the time constraints our commercial vehicle customers operate under, the increased use of multi-axle vehicles and our improved highway infrastructure.”

13th April 2007/by Tyrepress Editors

India’s BEML to Produce OTR Tyres With Apollo & JK Tyres

India’s Bharat Earth Movers Ltd (BEML) has announced its intention to diversify into the manufacture of OE and replacement market OTR tyres for mining applications. Along with its major customer, Coal India, BEML will work on this venture jointly with Apollo Tyres and JK Tyres. The OTR section is seen as a highly attractive market segment in India due to the larger profit margins offered compared with passenger car and truck tyres. Furthermore, at present 80 per cent of the OTR tyres sold in India are imported.

3rd April 2007/by Tyrepress Editors

Q4 Tough for Indian Tyremakers

Indian tyre manufacturers are expected to experience a difficult quarter in Q4 2007, the Business Standard has reported. According to the report “spot rubber prices in this quarter till date have averaged 95 rupees per kg levels as compared to an average price of 78.4 rupees per kg in same period last year.” Higher rubber prices this year are attributed to unfavourable weather conditions in key South East Asian producing countries, coupled with buoyant demand conditions from China, say analysts. As a result tyre stocks are said to have under-performed since the beginning of the quarter. Apollo Tyres is said to have 25 per cent during this period compared to a 7.6 per cent fall in the Sensex exchange. MRF also declined 24 per cent during this period.

29th March 2007/by Tyrepress Editors

India’s Apollo to Diversify

Apollo Tyres has diversified into the healthcare sector and is in the final stages of readying its new specialty hospital in Gurgaon, near the capital New Delhi. Named ‘Artemis Health Sciences’ (AHS), the Rs 2.1 billion (£24.6 million) 260 bed hospital is located on an 8.3 acre site, and plans are already in the pipeline for a further 240 beds to be added during a second phase of development.

“This is the first of similar ventures we have planned over the next seven-eight years. We will focus on cardiology, oncology and orthopaedics in these hospitals,” said AHS chief operating officer Somnath Chakarborty told local media.

26th March 2007/by Tyrepress Editors

Apollo Tyres’ “Beyond Business?” Conference

Indian manufacturer Apollo Tyres recently organised a day-long conference, attended by over 80 participants from the company’s raw material and machinery suppliers and business partners. Called “Beyond Business?”, the theme of the conference was whether a company’s corporate social responsibility (CSR) initiatives are an integral part of business activities, or beyond the scope of business.

20th February 2007/by Tyrepress Editors

New Indian Plant for Michelin

As the 51/49 per cent joint venture between Michelin and Apollo Tyres has failed to materialise, the French tyremaker now plans to establish its own truck and bus radial manufacturing facility in the Indian city of Pune.

19th February 2007/by Tyrepress Editors

Apollo Tyres Net Sales up 26 per cent

At the end of January, Apollo Tyres Ltd, published un-audited financial results for the 2006/07 financial year that show net sales grew by 26 per cent year-on-year to 8.575 billion rupees (£100 million). At the same time net profit as a percentage of sales increased to 4.1 per cent from 2.4 per cent.

29th January 2007/by Tyrepress Editors

Apollo Wins Two Awards

Apollo Tyre’s new UHP Aspire has been voted Automotive Product of the Year by NDTV Profit and Car India magazine. The W-speed rated tyre – safe to up to 270km/h – was awarded this distinction by India’s leading business television channel and the popular car magazine at a function in Mumbai attended by leading representatives of India’s automotive industry.

At a separate awards ceremony, this time in New Delhi, Apollo was awarded a commendation for its road safety campaigns. Throughout the past year Apollo has undertaken to increase road safety awareness by highlighting correct tyre maintenance procedure. The commendation was given by the Institute of Road Traffic Education as part of their 2006 awards programme, and Apollo was the only commercial entity, alongside seven individuals and non-profit groups, to be granted such a distinction. Apollo intends to continue its road safety programmes in 2007.

16th January 2007/by Tyrepress Editors

Straight Set to Apollo

Indian tyremaker Apollo Tyres has reaffirmed its commitment to the development of professional tennis in its homeland by signing up a doubles team to compete in the 2007 ATP and Grand Slam Tours. The two players are top Indian player Mahesh Bhupathi and the Czech Republic’s Radek Stepanek.

11th January 2007/by Tyrepress Editors

Apollo Tyres to Diversify

Major Indian tyremaker Apollo Tyres has made the decision to diversify into the transportation and logistics industry. Sister company Apollo International is in the process of establishing a cargo container freight depot near Mumbai, and is eager to acquire an established third party logistics firm to facilitate the development of the new business.

4th January 2007/by Tyrepress Editors

Textiles Firm to Enter Tyre Business

Indian textiles company Gupta Synthetics seems set to be entering the tyre raw materials market after announcing plans to invest 2.23 billion rupees (£25.5 million) to set up a nylon tyre cord fabric (NTCF) making and nylon filament yarn (NFY) making factory in the city of Silvassa.

The facility will produce the cord fabric and yarn for the tyre, textile and furniture industries and will have an output capacity of 8,128 tonnes per year. The NFY side of the operations should be producing output by October 2007 while NTCF production fabric will commence in 2008.

18th December 2006/by Tyrepress Editors

Novex Welcomes Dealers to Durban Plant

UK and international Novex dealers were recently given first-hand insight into the production of and technical knowledge behind the tyres they sell. In a visit to the Dunlop Tyres International facility in Durban, South Africa, a selected group of retailers were taken through the stages of manufacture that go into each Novex car and light commercial tyre.

11th December 2006/by Tyrepress Editors

Apollo to Start R&D Facility In Germany

Apollo Tyres plans to set up a research and development facility in Germany, according to Onkar S. Kanwar, co-managing director of Apollo Tyres. The company plans to use the facility as a stepping-stone towards strengthening the company’s relationship with the Leipzig Institute of Polymer Science, a school of Germany’s Leipzig University which employs professionals from various global tyre majors as experts. These experts are helping to develop novel technology for tyres. News reports suggest the company is also on the look out for another two universities in Germany for similar partnerships. Apollo is also working with Indian institutes such as National Institute of Design, Ahmedabad and IIT, Kharagpur, for design and development of rubber technology, respectively.

11th December 2006/by Tyrepress Editors

Apollo Tyres OE on Volkswagen?

Apollo Tyres is in talks with Volkswagen about supplying tyres to the small car the German carmaker is planning to introduce in the next two years. India’s Business Standard newspaper quoted Onkar Kanwar, chairman and MD of Apollo Tyres as saying: “We are holding talks for supply of car radials for Volkswagen vehicles, which are expected to roll out in the second half of 2009-10.” It is not clear if the deal will cover Europe or just India. According to reports Volkswagen recently firmed up its plans to set up a car plant in Chakan near Pune and is expected to sign a memorandum of understanding (MoU) with the Maharashtra government by next week.

5th December 2006/by Tyrepress Editors