No European Plant for Apollo, Vredestein Plant Gets Nod
India’s Apollo Tyre has apparently dropped plans to build a new tire plant in Europe, and will instead turn its attention to expanding its Vredestein facility in the Netherlands, reports Tire Review.
Apollo acquired Vredestein last year, including its plant in Enschede, Netherlands. That facility has limited land upon which to build, but Apollo feels it can double capacity there to 10 million tyres per year. Apollo officials did not announce a timetable or budget for the expansion effort.
Before buying Vredestein, Apollo had been looking to build its own European plant and budgeted $300 million for the project. That plan has been put on hold for the time being in favor of expanding capacity at its existing facilities.