Update: Apollo factories running again
Following serious flooding in Kerala state, India, Apollo Tyres wrote to the stock exchange warning of plan shutdowns in light of the adverse conditions.
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Apollo Tyres stops production in flood-affected Kerala plants
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.
Marangoni GRP launches India’s first franchised Ringtread plant
Since late 2015, the Marangoni Ringtread process has been represented in India by Marangoni GRP, a joint venture between the Marangoni Group and India rubber recycler GRP. The joint venture operation has now begun the rollout of a network of franchised retreaders within the country – the first, Autobahn Retreading, has opened its doors in the city of Kochi (Cochin). The Autobahn Retreading plant was officially inaugurated by Giuseppe Marangoni, vice-president of the Marangoni Group, together with GRP’s chief executive officer, Harsh Gandhi.
Apollo commemorates International Day for Conservation of Mangroves
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.
Ceat signs India factory MoU
In a letter to BSE, Ceat Ltd. has confirmed entering into a Memorandum of Understanding (MoU) with the government of India’s Tamil Nadu state. The tyre maker told the stock exchange that the MoU for setting up a new greenfield facility covers an estimated investment of Rs 40 billion (£437 million) over a period of ten years. It adds that passenger car radials, commercial vehicle radials and two-wheeler tyres will be produced in the plant.
CEAT plans to invest US$500 million in new tyre factory
Indian tyre manufacturer Ceat is planning to invest around 40 billion rupees (£442.4 million; 499.8 million euros; $482 million) in the construction of a greenfield tyre manufacturing facility near Sriperumbudur, 40 kilometres west of Chennai. The Times of India reports that the Tamil Nadu cabinet met on Wednesday 27 June to “approve the new project and offered a structured incentive package for the unit, which when becomes operational in about a year, will directly employ 1,000 people”.
China Synthetic Rubber considering India location
Taiwan-based China Synthetic Rubber is considering investing 10 billion rupees (126 million euros; £110.9 million; US$146.8 million) in a carbon black manufacturing facility in Gujarat, India. According to the Financial Express, the company has identified potential locations in the chemicals and petrochemicals investment region for the proposed project.
JD Power survey confirms Apollo Tyres’ strength in India’s small car segment
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.
Ceat’s Goenka becomes chairman of India’s ATMA
Anant Goenka, managing director of Ceat Ltd., has been elected chairman of Indian tyre industry body the Automotive Tyre Manufacturers’ Association (ATMA). Rajeev Anand, chairman and managing director of Goodyear India Ltd., is the association’s new vice-chairman.
Maxxis opens tyre factory in India
The Maxxis Group has officially inaugurated its first plant in India. The Maxxis Rubber India facility in Ahmedabad, Gujarat state, was set up with an investment of approximately US$400 million and specialises in the production of tyres and tubes for two-wheel vehicles. Production at the site began half a year ago with an initial daily capacity of 20,000 tyres and 40,000 tubes.
Groundbreaking held for Maxion Wheels’ India plant
At an event held yesterday, groundbreaking took place for the future Maxion Wheels facility in India. Invited guests, including suppliers, customers, local officials and company management, were present to witness the ceremonial turning of the first sod and unveiling of a plaque to mark the occasion.
Indian online tyre retailer Tyremarket.com seeks UK, domestic investment
Online retailer Tyremarket.com is seeking to establish a market leading position in India through its latest investment drive. With India already the world’s second-largest internet user, and online transactions expected to rise rapidly in the next few years, the company is pursuing a strategy to reach the top spot in what is one of the largest developing tyre markets too. Lead by former Siemens executive Sanjeev Agrawal, and with UK online tyre retailer Blackcircles.com founder Michael Welch OBE on board as strategic adviser and shareholder, Tyremarket.com states that it is “on track for market leading position in the $5 billion plus domestic replacement market.”
Construction to begin on new Maxion Wheels plant in India
On 19 February 2018, Maxion Wheels will hold a groundbreaking ceremony for its new light vehicle aluminium wheel plant in India. Preparations for the facility have already commenced with the acquisition of a plant site in Pune (Maharashtra state) as well as the formation of a new legal entity, Maxion Wheels Aluminum India Private Limited. This company came into being on 8 January.
Apollo Tyres one of ‘best workplaces in manufacturing’
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.
India expansion to boost Yokohama Rubber’s off-highway tyre production
A total of US$45.5 million is being invested to expand the Yokohama Group’s global production capacity for off-highway tyres. The investment will cover the production of a new plant in India that will add a further 34,700 tonnes to Yokohama’s capacity by the end of 2019. Work on the plant will commence next month at the site in Dahej operated by ATC Tires Pvt. Ltd., a subsidiary of Yokohama Rubber’s July 2016-acquired off-highway company Alliance Tire Group (ATG).
