Apollo Tyres to set up its 7th Manufacturing Facility in Andhra Pradesh
Published On 2018-01-10 21:22:44 2205 views
Apollo has laid foundation for its 7th manufacturing, at Andhra Pradesh and would start manufacturing tyres in this unit from 2020.
Fuelled by aggressive expansion and strategic acquisitions, Apollo Tyres has made an indelible impact for itself in the tyre industry.Ranked among the best tyre manufacturers in India and globally, through its marque Vredestein, Apollo seems to be relentlessly aiming for a larger chunk in the market. And after setting up a manufacturingfacility in Hungary and Netherlands, Apollo has laid foundation stone in Andhra Pradesh for its 7th manufacturing facility.
Apollo had officially announced its plans to set up this manufacturing unit in the later half 2016.
The foundation stone was laid by Chief Minister of Andhra Pradesh Mr. N Chandrababu Naidu, who was accompaniedby Onkar S Kanwar, Chairman of Apollo Tyres and Neeraj Kanwar, company’s Vice-Chairman and Managing Director.
Mr Naidu, speaking on the occasion, said: “I am very delighted to have Apollo Tyres, the Indian multinational, after setting its world-class facilities in Chennai and Hungary recently, now setting-up a state-of-the-art manufacturing unit in Andhra Pradesh. This will provide direct jobs to nearly 700 people and to many more indirectly, in the first phase. The employment opportunity would further get increased when the company expands in the future.”
Onkar Kanwar expressed his elation and said, “While planning for this state-of-the-art manufacturing facility, we have provisioned for the future capacity expansion requirements in India for the next five years and more.”
He added, “We are thankful to the Andhra Pradesh government for excellent cooperation received from them so far, and are confident of getting the same going forward as well towards the smooth construction and management of this facility. As a responsible corporate, we would be more than happy to contribute towards Shri Chandrababu Naidu’s vision of making Andhra Pradesh a ‘sunrise’ state.”
This state-of-the-art facility would provide employment to around 700 people and would facilitate many indirect jobs in its first phase.
Even though their bids to acquire Cooper Tires and Kumho Tires couldn’t bear fruition, the company is pushing hard to vie for the top spot, at least in the Indian market. This grit seems obvious from their growing Original Equipment partnerships with popular vehicles, including Baleno, Ciaz, Vitara Brezza and the recently launched Renault Captur.