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Falcon Tyres pays 30 p.c.

Special Correspondent

Ties up with Sumitomo Rubber for know-how

KOLKATA: Falcon Tyres has signed a technical assistance agreement with Sumitomo Rubber Industries of Japan for technical know-how for two-wheeler tyres, according to company chairman, P. K. Ruia.

Mr. Ruia, who acquired the Mysore-based company from the Chhabrias, said the agreement covered the entire gamut of product upgradation, process improvement and introduction of tubeless tyres and other high-tech tyres.

He said although the company was focussing on the OEM (original equipment manufacturer) segment until now, the sluggish growth in demand now being witnessed, might force the company to look at the replacement market increasingly.

Falcon Tyres, which finalised its 2006-07 results at its board meeting here on Thursday said the dividend had been stepped up from 25 per cent to 30 per cent for 2006-07. This follows an increase in turnover from Rs. 255.63 crore to Rs. 321.78 crore. The net profit improved from Rs. 3.62 crore to Rs. 3.96 crore.

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