Apollo Tyres

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Apollo Tyres Limited
Public company
Traded as NSEAPOLLOTYRE
BSE500877
Industry Tyres
Founded 1972[1]
Headquarters Gurgaon, Haryana, India[2]
Key people
triangle eye (Chairman, MD & CEO)
Neeraj Kanwar (Vice-Chairman & MD)
Revenue Rs 140.53 billion (US$2.09 billion) [3]
Number of employees
16000
Website http://www.apollotyres.com

Apollo Tyres Ltd is the world's 17th biggest tyre manufacturer, with annual consolidated revenues of Rs 140.53 billion (US$2.09 billion) in March 2017. It was founded in 1972. Its first plant was commissioned in Perambra, Thrissur, Kerala, India. The company now has four manufacturing units in India, 1 in Netherlands[4] and 1 in Hungary.[5] It has a network of nearly 5,000 dealerships in India, of which over 2,500 are exclusive outlets.

It gets 69% of its revenues from India, 26% from Europe and 5% from other geographies.[6]

Apollo announced its entry into the two-wheeler tyre segment with contract manufacturing in March 2016.[7] In November 2016, the company signed a MoU with the Government of Andhra Pradesh to set up a new factory in Andhra Pradesh to manufacture tyres for two-wheelers and pick-up trucks.[8]

The company’s second plant in Europe, was inaugurated by the Hungarian Prime Minister, Viktor Orban, on April 2017.[9][10][11]

History[edit]

Timeline

  • 1976 - Company was conceived and promoted by Mathew T Marattukalam, Bharat Steel Tubes, Ltd. Raunaq International Pvt. Ltd., Raunaq & Co. Pvt. Ltd., Raunaq Singh and Jacob Thomas.
  • 1976 - Apollo Tyres was registered[1]
  • 1977 - 1st plant established at Perambra, Kerala, India[1]
  • 1991 - 2nd plant at Limda, Gujarat, India[1]
  • 1994 - Started selling tyres for 2-wheelers[2]
  • 1995 - Acquired Premier Tyres Limited- PTL. It is the 3rd plant at Kalamassery, Kerala, India[12]
  • 2006 - Expanded operations outside India by acquiring Dunlop's Africa operations.[13]
  • 2008 - A new plant at Chennai Tamil Nadu, India[1]
  • 2009 - Apollo Tyres acquired the Netherlands-based tyre maker Vredestein Banden B.V. (VBBV) for an undisclosed sum[14]
  • 2013 - Disposed of the Dunlop brand in Africa along with most of the South African operation in a sale to Sumitomo Rubber Industries of Japan.[15]
  • 2013 - Opens its Global R&D Centre in Enschede, the Netharlands.[16]
  • 2015 - Apollo has bought Germany’s Reifencom for €45.6 million.[17]
  • 2016 - Shifts corporate office for Europe region to Amsterdam from Enschede, the Netherlands.[18]
  • 2016 - Opens Global R&D Centre, Asia in Chennai, India.[19]
  • 2016 - Signs MoU with the government of Andhra Pradesh to set up a new factory in Andhra Pradesh.[20]
  • 2017 - Inaugurates its plant in Hungary [5]

Corporate Structure and Leadership[edit]

Apollo Tyres is structured in the following units:

  • Asia Pacific, Middle East and Africa (APMEA)
  • Europe

Board of Directors

European Operations[edit]

Apollo Tyres currently sells Apollo and Vredestein branded tyres in Europe.[13] The company currently operates one tyre factory in Europe, in the Netherlands, and the second factory in Hungary.[25] This second production facility in Europe was inaugurated[26] for production on 7 April 2017.[27]

References[edit]

  1. ^ a b c d e "Archived copy" (PDF). Archived from the original (PDF) on 19 November 2010. Retrieved 2010-12-17. 
  2. ^ a b "Forbes India Magazine - Apollo's Play in Europe". 
  3. ^ https://s3.eu-central-1.amazonaws.com/apolloproducts/4007/notice-annual-report-atl-fy17.pdf
  4. ^ "Apollo tyres roll into Europe today". The Hindu Business Line. 1 June 2010. Retrieved 17 September 2014. 
  5. ^ a b "Apollo Tyres expands global footprint, inaugurates Hungarian plant". www.autocarpro.in. Retrieved 2017-05-08. 
  6. ^ "Annual Report for the Financial Year 2015-2016". Apollo Tyres. 
  7. ^ "Widgets Magazine". epaperbeta.timesofindia.com. Retrieved 10 June 2016. 
  8. ^ Bureau, Our (2016-11-09). "Apollo Tyres plans ₹500-cr factory in Andhra Pradesh". The Hindu Business Line. Retrieved 2017-06-08. 
  9. ^ "Hungary Prime Minister Viktor Orban opens Apollo Tyres plant near Budapest". The Financial Express. 2017-04-08. Retrieved 2017-06-12. 
  10. ^ "H.E. PM Viktor Orbán inaugurates the Apollo Tyres plant in Gyöngyöshalász". Indian Embassy Hungary. 2017-04-07. Retrieved 2017-06-12. 
  11. ^ Bureau, BS B2B (2017-04-10). "Apollo Tyres starts production from Hungarian plant". Business Standard India. Retrieved 2017-06-12. 
  12. ^ "The Economic Times". 
  13. ^ a b "Forbes India Magazine - Apollo's Play in Europe". 
  14. ^ Apollo Tyres Acquires Vredestein Banden BV
  15. ^ Tire Review Staff. "Sumitomo Acquires Assets of Apollo Tyres South Africa". Tire Review Magazine. 
  16. ^ Bureau, Our (2013-01-14). "Apollo Tyres opens R&D centre in Netherlands". The Hindu Business Line. Retrieved 2017-08-17. 
  17. ^ "Apollo Tyres may miss 2020 revenue target". Retrieved 14 December 2015. 
  18. ^ "Apollo Vredestein management now based in Amsterdam". Tyrepress. 2016-05-20. Retrieved 2017-08-17. 
  19. ^ www.ETAuto.com. "Apollo Tyres opens its Global R&D Centre, Asia in Chennai - ET Auto". ETAuto.com. Retrieved 2017-08-17. 
  20. ^ Bureau, Our (2016-11-09). "Apollo Tyres plans ₹500-cr factory in Andhra Pradesh". The Hindu Business Line. Retrieved 2017-08-17. 
  21. ^ Mukherjee, Sharmistha (2017-03-16). "Apollo Tyres' Satish Sharma elected ATMA Chairman". The Economic Times. Retrieved 2017-08-21. 
  22. ^ a b "Apollo Tyres Management Team". corporate.apollotyres.com. Retrieved 2017-08-21. 
  23. ^ "Apollo Tyres appoints Mathias Heimann to head European Operations". The Economic Times. 2014-10-22. Retrieved 2017-08-21. 
  24. ^ "Francesco Gori: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 2017-08-21. 
  25. ^ Bureau, BS B2B (2017-04-10). "Apollo Tyres starts production from Hungarian plant". Business Standard India. Retrieved 2017-05-08. 
  26. ^ Bureau, BS B2B (2017-04-10). "Apollo Tyres starts production from Hungarian plant". Business Standard India. Retrieved 2017-04-17. 
  27. ^ "Hungary plant to start rolling out products by 2017.A new plant is considered to be launched in north India: Apollo Tyres". The Economic Times. 17 September 2014. Retrieved 17 September 2014. 

External links[edit]