TVS Tyres’ £7.7 million Expansion Plans
TVS Tyres is to invest 600 million rupees (£7.7 million) in expanding its domestic and export capacity. “Our new capacities will be ready by 31 March. We currently manufacture 7 lakh tyres a month; after the expansion, we will have capacities to manufacture 900,000 tyres per month,” S Balasubramanian, vice president, marketing, TVS Srichakra Ltd told India’s Economic Times.
Attending the launch of seven new product variations, Balasubramanian told reporters that the company aims to increase its presence in the domestic aftermarket from 12 per cent now to 16 per cent by 07, going up to 20 per cent in two years.
TVS Srichakra reportedly exported just under 20 per cent of its production in ‘04-05, and targets the off-highway and industrial segments with this part of its business.