With the ramp-up of its plant in Hungary, Apollo Tyres Ltd. is growing in Europe. The company also has ambitious plans in its home market of India – it aims to become the country’s leading tyre maker, and is investing to do so. Total investments over the period between 2015 and 2021 approach £900 million.
Construction of Apollo Tyres’ first European Greenfield plant in Gyöngyöshalász, Hungary, officially began on 10 April 2015, with a foundation stone laying ceremony. The international tyre manufacturer’s facility will start production in early 2017. The facility will produce both, Apollo and Vredestein branded tyres and will cater to the entire European market.
Work on Giti Tire’s new factory site in the US will be commenced by Brad Cole Construction, a firm said to be one of the largest heavy civil construction companies in the southern United States. The company will ready 250 acres of the 1,152 acre site, and will clear land, compact soil, install drainage and perform other related tasks. The contract calls for Brad Cole’s work to be largely complete by 1 July 2015.
Following news reports that Apollo has chosen Hungary as the location of its new tyre plant, the company has released a statement reiterated its plans and stating that it is “yet to finalise the exact location” for its factory.