Reports: Apollo sells South Africa operation
Local new reports suggest Apollo Tyres has sold Apollo Tyres South Africa (ATSA), including the Ladysmith passenger car tyre plant, to Japan-based Sumitomo Rubber Industries (SRI) for $60 million. The company will reportedly retain the Durban plant, which manufactures truck and bus radial tyres and off-highway tyres used in the mining and construction industries. All employees of the company, other than those in the Durban plant, will continue with ATSA, the company said in a statement.