Kanwar Comments Point to Apollo Investing in East Europe
Apollo Tyres is apparently still considering its options for production in Eastern Europe. Company chairman Onkar S. Kanwar has said, reports India based financial news site livemint.com, that Apollo is “evaluating takeover possibilities” within the region. The tyre maker may invest up to Rs 20 billion (£280 million) buying and setting up facilities in outside of India; livemint.com says that an Asian acquisition is also being evaluated. A further Rs 10 billion is said to have been earmarked for expanding capacity within India.