Apollo Tyres Archives - Page 45 of 48 - Tyrepress

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Apollo Launches India’s first W-speed Rated Directional Tyre

Apollo Tyres has launched India’s first ever w-rated ultra-high performance directional tyre. Dubbed “Aspire”, the new tyre was unveiled by Dilip Chhabria of DC Design and Onkar S Kanwar, chairman and managing director, Apollo Tyres Ltd at the Autocar Performance in Mumbai. This latest offering from the Apollo stable comes close on the heels of the launch of the V-speed rated Apollo Acelere Sportz earlier this week. Meant for sporty car lovers, currently the 17-inch Aspire can be shod on the Mercedes E and C Class, Audi A6 and A4, Toyota Camry, Skoda Superb, Laura and Octavia and the Honda Accord. More sizes are going to be added in the coming months.

24th November 2006/by Tyrepress Editors

Asymmetric UHP Tyre From Apollo

Apollo Tyres Ltd has launched the Apollo Acelere Sportz – a premium V-speed rated tubeless car radial for the rapidly-growing range of premium and luxury cars. Acelere Sportz is India’s first complete range of asymmetric tyres, incorporating many performance, aesthetic, fuel efficiency and safety features.

This premium tyre can be fitted to a wide range of sedans and is an addition to the growing Acelere range of tubeless tyres, catering to the new generation of automobiles on Indian roads. Currently, Apollo commands a 15 per cent share of the tubeless radial market, and, with Acelere Sportz this is expected to grow to 20 per cent in a year’s time.

20th November 2006/by Tyrepress Editors

Apollo Q2 Sales Grow 21 per cent

Apollo has published un-audited financial results showing second quarter sales of 7.67 billion rupees (£90.5 million), up 21 per cent year-on-year. Net profits grew 3.8 per cent to 193 million rupees (£2.28 million) despite global raw material increases. Sales improvement was reflected in the half-year results. Net sales were up 27 per cent to 15.246 billion rupees (£180 million). Operating profit grew 2.8 per cent in the six-month period to 1,167 billion rupees (£13.78 million).

12th October 2006/by Tyrepress Editors

Apollo Tyres to Raise 2.5 billion Rupees

Apollo Tyres has received approval from shareholders for raising 2.5 billion rupees through the issue of equity shares. The shareholders also gave approval for the board to allot up to 400,000 warrants on a preferential basis in one or more “tranches to promoter group companies,” Apollo Tyres informed the Bombay Stock Exchange.

10th October 2006/by Tyrepress Editors

Apollo Tyres Net Sales Grow 33 per cent in Q1 2006-07

Apollo Tyres Ltd’s un-audited financial results for the first quarter of the 2006-07 financial year show net sales grew over 33 per cent to 757.2 billion rupees from 568 billion rupees. The company also reported that a 20 per cent growth in unit volume was led by increased radial car and truck tyre sales. Post tax profits remained stable at 1.62 billion rupees. In the past quarter Apollo has raised selling prices by around 9 per cent across its range.

25th July 2006/by Tyrepress Editors

Michelin Explores Indian OE Market

Michelin is keen to enter the OEM (original equipment manufacturer) segment of the Indian passenger car and truck markets, according to the Indian press. This was made clear in an article with The Hindu recently, in which Herve Dub, Chief Executive Officer, Michelin India Tyres Private Ltd. said, “We are in discussions with some OEMs. There will be some good news on this front in 12 months,” he added.

18th July 2006/by Tyrepress Editors

MRF Considering Price Rise

Indian tyre maker MRF Ltd. is considering a price rise of up to six per cent to meet a sharp increase in rubber and oil prices, a top official said.
However, the company would decide the timing and degree of the increase only after watching market conditions and the strategy of competitors, said Philip Eapen, executive director for marketing.
“Eventually if we do not increase our prices fully, there will be a time when we will incur losses,” he continued.

17th July 2006/by Tyrepress Editors

Apollo Tyres Assists in Disaster Management

Following last year’s devastating floods in Mumbai, Apollo Tyres and CVONDM – a Maharashtra-based non-governmental organisation, have compiled a comprehensive disaster management booklet, which will be distributed to all Mumbai motorists. The booklet, which will comprise comprehensive disaster and road safety management tips as well as complete list of all emergency numbers, will be distributed free of charge to all motorists, to equip them with proactive steps and numbers, to effectively reach out as and when required and save theirs as well as their fellow motorists’ lives.

10th July 2006/by Tyrepress Editors

Apollo Tyres Plans Share Issue

The board of Indian tyre manufacturer Apollo Tyres Ltd. has approved a plan to raise 2 billion rupees (34 million euros) through a public issue of shares. Apollo also plans a rights issue, whereby company shareholders would get one share for every six held under the rights issue. The company would also allot one warrant for every four rights shares issued.

26th May 2006/by Tyrepress Editors

Apollo Tyres Launches Retread Range

Apollo Tyres has launched a new range of DuraTread retreading materials for commercial vehicles in Southern India. The range, which Apollo says shows it is a step closer to being a complete tyre solution provider, will be produced at Apollo’s Kalamassery plant near Cochin. DuraTreads will subsequently be available across the country by leveraging Apollo’s operations network.

19th May 2006/by Tyrepress Editors

Apollo Tyres Reports 2005 Results

Publishing its full-year 2005 results Apollo Tyres Ltd has reported that it has crossed the 30 billion-rupee turnover mark, compared 26.56 billion the previous year. Operating profit soared 35 per cent to 2.22 billion rupees while net sales grew 18 per cent to 2.64 billion rupees.

8th May 2006/by Tyrepress Editors

Apollo Acquires Dunlop International – Update

International News

Further details of Apollo Tyres’ acquisition of Dunlop International (also known as Dunlop South Africa) have emerged. Firstly Dunlop Nigeria (estimated turnover of $65 million, £40 million) is not included in the sale. Apollo representatives gave no reason for this. Furthermore, the Indian company confirmed it would keep the troubled Dunlop Zimbabwe business.

“Dunlop is the only tyre manufacturer in Zimbabwe and it is a profitable operation,” Apollo spokesperson Kankana Das told Tyres & Accessories. However in light of inflation rates as high as 800 per cent any profitability must be difficult to maintain. “Any operation can be profitable as long it is able to pass on price increases to cover the cost push. The Zimbabwe operations have been able to do this,” Das added.

7th February 2006/by Tyrepress Editors

Apollo Tyres Invests In Truck and Bus Radial Manufacture

Apollo Tyres is to invest 400 million rupees in truck and bus radial production at the company’s Limba plant. Apollo’s announcement follows the news in October 2005 that Michelin had bought Apollo Tyres’ stake in the two companies’ joint venture. At the time Michelin cited the “slower than projected pace” of radialisation as its reason for the move.

26th January 2006/by Tyrepress Editors

Apollo Sets its Sights on Dunlop Zimbabwe

Life has been hard for Dunlop Zimbabwe in recent months, now the company is being targeted for takeover by India’s Apollo Tyres, it has emerged. Dunlop International CEO Mark Hankinson is expected to travel to Harare in the next two weeks, the Zimbabwe Financial Gazette reported. Hankinson, whose group controls 75 per cent of Dunlop Zimbabwe is quoted as saying “We are talking to a number of people.”

19th January 2006/by Tyrepress Editors

Michelin’s Radial Plans Rely On Demand

Michelin has put its planned collaboration with Apollo Tyres on hold while the businesses wait for the national radialisation rate to gather speed. The companies maintained that their working relationship was on track, but that demand has to increase before manufacturing work gets underway.

10th January 2006/by Tyrepress Editors