Apollo Tyres eyes more revenue from overseas operations
By IANSTuesday, September 28, 2010
KOLKATA - Tyre manufacturer Apollo Tyres is expecting to mop up more revenue from its foreign operations in the next five years, a top official said here Tuesday.
“Now our overseas operation generates around 40 percent of the total group revenue and rest comes from the domestic market. We are expecting overseas operations to generate 60 percent of revenue for the group,” Apollo Tyres chairman Onkar S. Kanwar said.
The tyre-maker is planning to invest Rs.3,000 crore in the next three years.
“We will be investing in capacity in South Africa, Europe and India,” he said.
The company plans to increase its combined tyre processing capacity to 1,600 tonnes per day by end of the current fiscal from 1,450 tonnes per day at present, he said.
To secure supply of key raw materials, the company is also looking for rubber plantations in South Asian countries.
