India
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MTPYokohama investing US$165 million in new India OTR tyre factory
ATG, YokohamaThe Yokohama Rubber Co., Ltd. is set to build a new plant at Atchutapuram Industrial Park, Visakhapatnam, Andhra Pradesh, India to expand ATG’s (Alliance Tire Group) tyre production capacity. The new plant will have a daily production capacity of 55 tons (rubber weight), with planned capital investment totalling US$165 million. Construction will start in the third quarter of 2020 and the new plant is scheduled to come on line in the first quarter of 2023.
BKT sponsors 6 IPL cricket franchises
BKTOTR and agricultural tyre manufacturer BKT is extending its sponsorship of the shortest form of professional cricket, following its deal with Australia’s Big Bash League. In the 2020 season of the Indian Premier League, the most high-profile domestic T20 event, the multinational group from India will support Mumbai Indians, Chennai Super Kings, Delhi Capitals, Kings XI Punjab, Kolkata Knight Riders and Rajasthan Royals.
Ceat inaugurates factory expansion
Ceat Limited commissioned the second phase of its Nagpur plant in India’s Maharashtra state on Monday. The tyre maker says the two-wheeler tyre capacity added by this expansion project will be “be ramped up over a period of time, based on market demand and our overall capacities.”
Apollo aims for leadership in Indian two-wheel tyre market, Europe next
ApolloApollo Tyres is aiming for leadership in the premium two-wheeler segment in India with the inauguration of a dedicated two-wheel cross-ply and tyre manufacturing operation. India is the largest two-wheeler market in the world, and still has a headroom for further growth. In light of the Covid-19 pandemic, demand has increased as people move away from shared/public transport and gradually moving to own a personal vehicle. However, while India is at the forefront for Apollo’s venture into the two-wheel segment, the company is also hinting that it plans to export two-wheel tyres to Europe and North America.
First Apollo tyre rolls off production line at Andhra Pradesh factory
Apollo Tyres has commissioned its seventh tyre factory globally and its fifth in India, with the first tyre rolling off the production line from the Andhra Pradesh greenfield facility in the southern part of the country on 25 June. Chairman, Onkar S Kanwar, vice chairman and MD, Neeraj Kanwar, supervisory board members along with the entire senior management team participated virtually in this momentous occasion.
Maxxis re-appoints Dr Wally Chen as chairman
Maxxis InternationalFormer Maxxis International president Dr Wally Chen is leaving retirement to assume the chairmanship of the company. Dr Chen, who oversaw Maxxis’ rise to the ranks of the world’s top 10 tyre companies, will assume the chairmanship effective immediately following a vote by the company’s board of directors at a recent meeting. He replaces former Maxxis/Cheng Shin chairman Robert Lo (pictured).
Maxxis India resumes tyre manufacturing
MaxxisMaxxis India has announced a partial resumption of manufacturing operations at its Sanand, Gujarat factory albeit with reduced workforce numbers. Maxxis India had shut the operation on 23 March 2020 for a period of 42 days, following government calls for a complete lockdown in order to combat the coronavirus.
JK Tyre launches US operation
JK TyreIndian tyre manufacturer JK Tyre & Industries has inaugurated a new sales and marketing operation in the USA. The new arm of the company, Western Tires, Inc, is based in Houston, Texas. It will focus on sales, service and network expansion, the company stated. JK Tyre has been accelerating its global expansion efforts recently, in common with other Indian players, Apollo and MRF. With around 1.3 billion euros in turnover from tyres, JK Tyre is just outside the global top 20 manufacturers, according to the latest Tyrepress research.
RSDC offers free workforce webinar
The Rubber Skill Development Council (RSDC) foresees a shortage of skilled manpower in the rubber sector. With the objective of understanding the challenges and concerns related to absorption of workforce back into the business operations post-lockdown RSDC, is running a webinar to discuss “Demand of Skilled Workforce in the Rubber Sector Post Covid19 Lockdown” on Friday 15 May 2020.
BKT restarts production with distancing measures in place
BKTWith the approval of local authorities, BKT has restarted tyre production, albeit still on a partial basis, in all its plants in India. The off-highway tyre specialist has also resumed supply and delivery to both the OEM and aftermarket channels.
Apollo Tyres takes first step to resuming production in India
Following a slight easing of the lockdown regulations in India, Apollo Tyres reports it “partially resumed” tyre production yesterday at its Perambra plant in Kerala state. Apollo’s other plants in India remain closed for the time being.
India’s competition authority approves Warburg Pincus’ investment in Apollo Tyres
The Competition Commission of India (CCI) has approved Warburg Pincus’ indirect acquisition of a 9.93 per cent stake in Apollo Tyres Limited. The purchase of 108,000,000 compulsorily convertible preference shares in the tyre maker, each share worth Rs 100, is being carried out by Emerald Sage Investment Limited. This transaction is worth approximately Rs 10.8 billion (£114 million).
