Held on 15 May 2014
Apollo Tyres announced that the Board of Directors of the Company at its meeting held on 15 May 2014, inter alia, has noted/approved the following :Shardul S Shroff has resigned from the Board of Directors of the Company with immediate effect.
Pallavi Shroff has been appointed as an Additional Director (Independent) on the Board of the Company.
The Board approved greenfield project in Eastern Europe, at a project cost of approx. Euro 500 million over the next 4 years, funded with accruals and debt at the Company's European subsidiary. The planned capacity is expected to be 16000 Passenger Car Tyres (PCR) per day and 3000 Truck Bus Radial Tyres (TBR) per day.
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