Tag: Apollo Tyres
Lockdown stops tyre production in India
The lockdown now in place across India is one of the most radical measures seen to date during the COVID-19 pandemic. As a result, tyre production has come to a standstill at plants across the country. While India’s government exempts the manufacture of “ essential commodities” from the three-week lockdown it hasn’t provided clarity as to what products it considers essential. Therefore it is unclear when tyre manufacture will recommence within the country.
Apollo Tyres suspends production at four plants in India
Several states across India have announced lockdowns in order to better deal with the COVID-19 outbreak, and as a result Apollo Tyres Ltd. has halted operations at its plants in Kalamassery & Perambra (Kerala), Limda (Gujarat) and Chennai (Tamil Nadu) until 31 March. In addition, employees in the company’s offices have been instructed to work from home.
Apollo Tyres’ management takes coronavirus pay cut
Top management at Apollo Tyres have announced they’ve accepted a pay cut during the market difficulties brought about by the COVID-19 pandemic. The tyre maker says it is also preparing to implement further measures.
Apollo Vredestein plant restructuring: Dutch politicians seek answers from European Commission
Some 750 jobs will be lost due to restructuring at the Apollo Vredestein tyre plant in Enschede, the Netherlands over the next couple of years, and Dutch politicians want to know if the European Union has contributed in any way to the chain of events that will lead to some of Enschede’s tyre production relocating to Hungary. MEPs from Dutch political party the CDA (Christian Democratic Appeal) have asked the European Commission to clarify certain points.
750 jobs to go at Apollo Vredestein’s Netherlands plant
A meeting between the management of Apollo Vredestein BV (AVBV) and employees took place today to discuss the future of the company’s tyre factory in Enschede, the Netherlands. The workforce was told that Apollo Tyres intends to “specialise” production at the site in order to ensure profitability. Measures related to this realignment include reducing AVBV’s personnel by approximately 750 full-time employees over a period of 24 months.
Warburg Pincus investing £117 million in Apollo Tyres
Private equity firm Warburg Pincus is investing around £117 million in Apollo Tyres via a subsidiary. On 26 February, the tyre maker’s Board of Directors approved the issue of up to 108,000,000 million compulsorily convertible preference shares, each with a face value of Rs 100, to Emerald Sage Investment Ltd. The transaction is subject to shareholder and regulatory approvals.
Asia: Apollo expands SAARC region presence
Some 21 per cent of the world’s population live in countries belonging to the South Asian Association for Regional Cooperation (SAARC). Nepal is one of these eight countries, and this is the market where Apollo Tyres generates more than 35 per cent of its SAARC region export revenues. To better service customers there, the company has now set up an office in the capital, Kathmandu.
Apollo Tyres partners with truck manufacturer for India healthcare initiative
Under a new partnership with commercial vehicle manufacturer Ashok Leyland, Apollo Tyres will provide healthcare facilities to truckers at a major transport hub in southern India. The tyre maker describes this collaboration as “a unique, first of its kind partnership.”
Apollo Tyres enters Saudi Arabia tyre market
Apollo Tyres Ltd has entered the Saudi Arabia tyre market in cooperation with Al-Jomaih Tyres Company Limited, the exclusive distributors for the Kingdom. Apollo Tyres reports that it will be focussing on the large and growing truck-bus radial and passenger car tyre market, aiming to capture “a sizeable market share” in each of these segments.
Auto Bild Allrad: ‘top-class’ performance from Apollo in winter tyre test
The team at Auto Bild Allrad faced a problem when it came to performing their annual winter tyre test – they couldn’t find enough snow. To get around this shortcoming, the testers travelled to Japan with their equipment and ten brands of European market winter tyres. They also took a set of summer tyres with them for comparison and to serve as a warning to anyone tempted to drive on them in the snow and ice.
Apollo Tyres’ Thelma truck to race at Le Mans ‘one more time’
The Apollo Tyres TOR Truck Racing team will bring its racing truck ‘Thelma’ to Le Mans on 28-29 September for its final 2019 appearance on track. The team has been making a few alterations to the racing truck following a successful weekend at the ‘Convoy in the Park’ event at Donington in August, in preparation for the penultimate rounds of the European Truck Racing Championship.
Apollo Tyres opens first truck tyre centre in Thailand
Apollo Tyres has extended its Apollo Truck Tyre Zone (ATTZ) fleet service concept to Thailand. The first ATTZ outlet, a collaboration between Apollo and local partner Ten Ten Auto Tyres has opened in Hat Yai District, Songkhla Province and is equipped to provide a range of services such as wheel alignment for trucks and cars, tyre changing and wheel balancing.
Slight slowdown in India’s radialisation
The radialisation in India’s commercial vehicle and off-highway tyre market has slowed down but is still progressing, says Apollo Tyres. During an earnings call earlier this month, chief financial officer Gaurav Kumar commented that radialisation in the market as a whole has “slowed down slightly from earlier expectations.”
Apollo Tyres: Netherlands car tyre production down, but not out
Passenger car tyre production and capacity at Apollo Tyres’ Gyöngyöshalász plant in Hungary has steadily grown over the past two years. These respectively reached 2.1 million and almost 3 million units a year by the end of March 2019, and Apollo is still ramping up in Hungary. It’s a different story in Enschede, some 700 miles to the west, but Apollo Tyres says it isn’t preparing to end car tyre production in the Netherlands any time soon.
Apollo Tyres introduces EnduMaxx brand in India
Apollo Tyres has introduced the Endumaxx brand of tyres for light trucks in India. The company described light truck radial demand as having “a potential of 112,000 tyres per month in India, and it is growing at a much faster pace than any other segment”.