Company to invest Rs 800 crores in the new plant and R&D facility to cater demand and drive growth.
JK Tyre & Industries Ltd., industry leader and manufacturer of well known brands JK TYRE, VIKRANT and TORNEL, had announced undertaking substantial expansion of its operations in one of the southern states. They had shortlisted Tamil Nadu and Karnataka for this purpose. In this connection Mr. Arun Bajoria, President JK Tyre met with a team of senior officials of Govt of Karnataka lead by Mr. V.P. Baligar, principle secretary (Industries) yesterday in Delhi. It is understood that Govt. of Karnataka has assured special incentives to the company for their forthcoming investments.
As part of company’s growth strategy of expanding its capacity and strengthening R&D, JK Tyre will invest in the state to manufacture truck, bus and car radials to cater to both domestic and international markets.
Announcing the expansion plans, Mr. Arun Bajoria, President, JK Tyre & Industries Limited, said” There is an increase in demand for commercial vehicles as well as for passenger cars in the country. We had announced last year to undertake substantial expansion of our tyre operation, therefore our new plant in Karnataka is part of our long term growth strategy.
“Our all new green field plant will by far be a state of the art tyre plant in the country. It will also provide substantial employment to the youths of the state,” he further added
JK Tyre has recently completed expansion of Rs. 315 crores to increase its capacity of Truck and Bus Radial tyres from 4 Lac to 8 Lac tyres per annum and is further planning to invest Rs. 1200 crores in the next 3 to 4 years to fulfill the demand for quality tyres in the country.
About JK Tyre & Industries Ltd:
JK Tyre & Industries Ltd. has been ranked as No. 1 in JD Power Customer Satisfaction Index in 2009 and is the first and only Tyre Company to be awarded ‘Superbrand’. It is the flagship Company of JK Organisation known for manufacturing leading tyre brands - JK Tyre, Vikrant and Tornel. JK Tyre is India's leading four-wheeler tyre manufacturer and the 22nd largest tyre manufacturer in the world. As the pioneers of radial technology in India, the company has taken forward this revolution in the Truck/ Bus radial segment. Over the years, JK Tyre & Industries has achieved innumerable feats including the top honours such as "The Brand Equity Award", "Rajiv Gandhi National Quality Award", "CII - Exim Bank Award" and several other awards. With a distribution network of over 4000 dealers and over 120 stocking points, the Company has left a mark across every Indian road treading into every nook and corner of the country.
