TVS Tyres Planning to Expand Capacity
Indian manufacturer of tyres for two and three wheeled vehicles as well as agricultural and industrial tyres, TVS Tyres, will soon begin a Rs 350,000,000 (£4.3 million) expansion of its factory in the southern city of Madurai. This investment will boost tyre and inner tube production capacity by approximately 12 per cent, giving the company a greater ability to extend its focus upon exports to South East Asia.
TVS presently has the capacity to produce 11 million tyres per annum and a similar quantity of tubes. During the 2007/08 fiscal year the company is placing an emphasis on exports, and expects to see the value of its exports increase from Rs 750,000,000 (£9.1 million) in the 2006/07 year to Rs 1,000,000,000 (£12.2 million) in 2007/08. Exports account for some 16 per cent of the company’s revenues, and TVS enjoys sales to more than 60 countries, including the UK.