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Apollo Tyres’ Oragadam unit by December

Onkar S. Kanwar

KOCHI: With a target of $2 billion turnover by 2010-11, Apollo Tyres is all set to become a truly global company, says Onkar S. Kanwar, Chairman, Apollo Tyres.

Talking to reporters here on Thursday, the Chairman said the company’s Tamil Nadu facility at Oragadam near Sriperumbudur would be commissioned by November-December this year with an investment of over Rs. 2,000 crore. About 2.4 million truck radials would be produced at this facility when the plant becomes fully operational.

He said that the acquisition of tyre factories at the Netherlands and Dunlop Tyres International in South Africa had given Apollo much leverage in the international tyre market.

He said the information technology skills of the Indian company would be integrated to the newly acquired plants to generate better operational efficiency and improve production and productivity. Sourcing of raw materials like natural and synthetic rubber and chemicals could be made more efficient because of the acquisitions in the European arena and could result in better economies of scale.

Mr. Kanwar said the operational profit of the company had surged by 11-12 per cent after the acquisitions though the recorded growth continued to be in the range of 7-8 per cent because of global slowdown and closure of major auto makers like General Motors.

The Netherlands plant would be able to make tyres of international quality for luxury vehicles manufactured by Porsche, BMW and Audi, said Neeraj R. S. Kanwar, Managing Director, Apollo Tyres.

The Netherlands unit would become the export hub for products from India said Sathish Sharma, chief of India operations.

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