Apollo Tyres

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Apollo Tyres Limited
Public company
Industry Tyres
Founded 1972[1]
Headquarters Gurgaon, Haryana, India[2]
Key people
Onkar Kanwar (Chairman & MD)
Neeraj R S Kanwar (Vice-Chairman & MD)
Revenue Increase127.5 billion (US$1.9 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 121.5 billion (US$2.5 billion) in 2011. It was founded in 1976. Its first plant was commissioned in Perambra, Thrissur, Kerala. The company now has four manufacturing units, one in South Africa, two in Zimbabwe and 1 in Netherlands.[4] It has a network of over 4,000 dealerships in India, of which over 2,500 are exclusive outlets.

It gets 62.6% of its revenues from India, 27.9% from Europe and 9.5% from Africa.[5]

It is planning to become the 10th biggest tyre manufacturer in the world with annual revenues of $6 billion by 2016.[2]

On 12 June 2013, it was reported that Apollo Tyres Ltd would buy US-based Cooper Tire & Rubber Company for about $2.5 billion in a deal that would make it the world's seventh-largest tyre maker, however the takeover collapsed after legal battles.[6]

Apollo announced its entry into the two-wheeler tyre segment with contract manufacturing in March 2016. The factory is likely to go on stream by 2018.[7]

History[edit]

  • 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.
Apollo Tyres was registered[1]
Apollo is set to acquire the US based Cooper Tire & Rubber Co. which is expected to be completed at the end of the year.[11]
The takeover collapses after a legal stand off and months of delays in December 2013.[12][13]
  • 2015 - Apollo has bought Germany’s Reifencom for €45.6 million.[14]

European Operations[edit]

Apollo currently sells 30,000 tyres/month in Europe.[9] The company currently operates one tyre factory in Europe, in the Netherlands, and will build a second factory in Hungary. This second production facility will begin production in early 2017.[15]

References[edit]

External links[edit]