| Limda, Gujarat, India, February 25, 2008: The foundation stone for an exclusive OTR or Off-The-Road tyre production facility was unveiled today by Mr Onkar S Kanwar, Chairman and Managing Director, Apollo Tyres Ltd, at the company's flagship manufacturing unit in Limda. This marks the beginning of Apollo Tyres' entry into the OTR segment, with an initial capacity of 10 tonnes a day in the first phase of the project, to be scaled to 60 tonnes a day over the next three years. |
| Said Mr Onkar S Kanwar, Chairman and Managing Director, Apollo Tyres Ltd, "Buoyancy in the mining and construction industries globally, has led to a demand-supply gap in OTR tyres, including in India. We will begin production with the conventional cross-ply tyres which are used in India. Over the next two-odd years, we will manufacture radial OTR tyres, which are currently not produced in India. Various earthmover equipment manufacturers have shown eagerness to get into agreements with us that allow them exclusive access to our OTR production." |
| The first set of tyres is expected to roll out in the next 15 months. The sizes produced here will begin from 25 inches (diameter) and go up to as much as 57 inches. |
| The first phase will entail an investment of Rs 1 billion, primarily for the production of cross-ply OTR tyres. Additional investments will be made for radial production. Radial OTR tyres are currently not manufactured in India and are imported primarily in the size range of 50 inches and higher, for vehicles used in the mining sector. |
| About Apollo Tyres Ltd |
| Apollo Tyres Ltd is a high-performance company and the leading Indian tyre manufacturer with revenues of over US$ 1 billion. It is built around the core principles of creating stakeholder value through reliability in its products and dependability in its relationships. The company has three manufacturing units in India, two in South Africa and two in Zimbabwe. It has a network of over 4,000 dealerships in India, of which over 2,500 are exclusive outlets. In South Africa, it has over 900 dealerships, of which 190 are Dunlop Accredited Dealers. Website: www.apollotyres.com |
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