Cooper acquisition is a game changer – Apollo MD talks to T&A

1st July 2013 | 12,345 Comments
 
Cooper acquisition is a game changer – Apollo MD talks to T&A

With the ink still drying on Apollo Tyre’s agreement to purchase Cooper Tire and Rubber, on 27 June Tyres & Accessories met with Apollo vice chairman and managing director Neeraj Kanwar at the company's new global marketing office in central London in order to get the inside line on the deal, the impending integration and the strategy behind the purchase.

In 2010, Apollo's owners, chairman Onkar Kanwar and vice-chairman and managing director Neeraj Kanwar, told the world that the company was aiming to break into the global top 10…at least. At the time this announcement was made you could be forgiven for thinking such a proclamation was either an exercise in hyperbole or in corporate goal setting. And why not? There's nothing wrong with aiming high, as many of the world's fastest growing tyre companies are clearly doing. After all, as the saying goes, “he who aims at nothing hits it”.

But with all the speculation that surrounded the company's decision to engage in takeover talks with Cooper at the end of 2012, the fact that the deal has now been agreed arguably isn't as much of a surprise as the speed with which the top 10 goal has been attained. Early indications suggest that the amalgamated Apollo/Cooper will be the seventh largest tyre company on earth. So what's next? The exclusive club that is dominated and fiercely defended by the big five? Or, as is more likely, a period of integration and consolidation while the dust settles?

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Category: Company News, International News, News

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