Apollo Tyres

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Apollo Tyres Limited
Company typePublic company
NSE: APOLLOTYRE
BSE: 500877
IndustryTyres
Founded1972[1]
HeadquartersGurgaon, Haryana, India[2]
Key people
Onkar Singh Kanwar (Chairman and MD)
Neeraj Kanwar (Vice Chairman & MD)
Revenue₹146.74 billion (US$2.28 billion) [3]
Number of employees
16000
Websitehttp://www.apollotyres.com

Apollo Tyres Ltd is the world's 11th biggest tyre manufacturer, with annual consolidated revenues of ₹146.74 billion (US$2.28 billion) in March 2018. It was incorporated 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

Apollo Tyres Ltd. was incorporated on 28th September, 1972 as a Public Limited Company and obtained certificate of Commencement of Business on October 24, 1972. The Company was promoted by Bharat Steel Tubes, Ltd. Raunaq International Pvt. Ltd., Raunaq & Co. Pvt. Ltd., Raunaq Singh, Mathew T. Marattukalam and Jacob Thomas [1]. In 1975, the company made its Initial public offer of equity shares and its first manufacturing facility was commissioned in Perambra Plant, Thissur, Kerala, India in 1977,[1] followed by its 2nd plant at Limda, Gujarat, India[1] in 1991. The company acquired Premier Tyres Limited- PTL in 1995, which became its 3rd plant at Kalamassery, Kerala, India[12]. In 2008, it started a new plant at Chennai Tamil Nadu, India[1]. A year later in 2009, the company acquired the Netherlands-based tyre maker Vredestein Banden B.V. (VBBV) for an undisclosed sum[13]

The company focused on the production of truck tyres in India and introduced its first truck tyre, Rajdhani in India.[2] [2] The company expanded its operation across Indian and, in 1996, it expanded operations outside India by acquiring Dunlop's Africa operations.[14] In 2013, it disposed off the Dunlop brand in Africa along with most of the South African operation in a sale to Sumitomo Rubber Industries of Japan.[15] The very same year, it started its Global R&D Centre, Europe in Enschede, the Netharlands.[16]

In 2015, Apollo Tyres bought Germany’s Reifencom for €45.6 million.[17] It shifted its corporate office for Europe region to Amsterdam from Enschede, the Netherlands[18] and opened a Global R&D Centre, Asia in Chennai, India a few months later.[19]

In 2016, the company signed an MoU with the government of Andhra Pradesh to set up a new factory in the state.[20] In 2017, it inaugurated its plant in Hungary [5]. On Jan 9, 2018, the Chief Minister of Andhra Pradesh, N Chandrababu Naidu laid the foundation stone for Apollo Tyres' ₹1,800-crore tyre factory in Andhra Pradesh. The plant will come up over a 200-acre site in Chinnapanduru village near Sri City in Chittoor district and produce passenger car radial (PCR) tyres with an initial capacity of 5.5 million tyres per year and will serve both domestic and export markets. [3][4].

Corporate Structure and Leadership

Apollo Tyres is structured in the following units:

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

Board of Directors

European Operations

Apollo Tyres currently sells Apollo and Vredestein branded tyres in Europe.[14] The company currently operates two tyre factories in Europe; in The Netherlands and in Hungary.[25] This second production facility in Europe was inaugurated[26] for production on 7 April 2017.[27]

References

  1. ^ a b c d "Archived copy" (PDF). Archived from the original (PDF) on 19 November 2010. Retrieved 2010-12-17. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)CS1 maint: archived copy as title (link)
  2. ^ a b "Forbes India Magazine - Apollo's Play in Europe".
  3. ^ https://s3.eu-central-1.amazonaws.com/apolloproducts/3984/051018-apollo-tyres-net-sales-up-22-in-q4.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 8 May 2017.
  6. ^ "Annual Report for the Financial Year 2015-2016". Apollo Tyres. Archived from the original on 27 September 2016. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  7. ^ "Widgets Magazine". epaperbeta.timesofindia.com. Retrieved 10 June 2016.
  8. ^ Bureau, Our (9 November 2016). "Apollo Tyres plans ₹500-cr factory in Andhra Pradesh". The Hindu Business Line. Retrieved 8 June 2017.
  9. ^ "Hungary Prime Minister Viktor Orban opens Apollo Tyres plant near Budapest". The Financial Express. 8 April 2017. Retrieved 12 June 2017.
  10. ^ "H.E. PM Viktor Orbán inaugurates the Apollo Tyres plant in Gyöngyöshalász". Indian Embassy Hungary. 7 April 2017. Retrieved 12 June 2017.
  11. ^ Bureau, BS B2B (10 April 2017). "Apollo Tyres starts production from Hungarian plant". Business Standard India. Retrieved 12 June 2017.{{cite news}}: CS1 maint: numeric names: authors list (link)
  12. ^ "The Economic Times".
  13. ^ Apollo Tyres Acquires Vredestein Banden BV
  14. ^ a b "Forbes India Magazine - Apollo's Play in Europe".
  15. ^ Tire Review Staff. "Sumitomo Acquires Assets of Apollo Tyres South Africa". Tire Review Magazine.
  16. ^ Bureau, Our (14 January 2013). "Apollo Tyres opens R&D centre in Netherlands". The Hindu Business Line. Retrieved 17 August 2017.
  17. ^ "Apollo Tyres may miss 2020 revenue target". Retrieved 14 December 2015. {{cite web}}: Cite has empty unknown parameter: |1= (help)
  18. ^ "Apollo Vredestein management now based in Amsterdam". Tyrepress. 20 May 2016. Retrieved 17 August 2017.
  19. ^ www.ETAuto.com. "Apollo Tyres opens its Global R&D Centre, Asia in Chennai - ET Auto". ETAuto.com. Retrieved 17 August 2017.
  20. ^ Bureau, Our (9 November 2016). "Apollo Tyres plans ₹500-cr factory in Andhra Pradesh". The Hindu Business Line. Retrieved 17 August 2017.
  21. ^ Mukherjee, Sharmistha (16 March 2017). "Apollo Tyres' Satish Sharma elected ATMA Chairman". The Economic Times. Retrieved 21 August 2017.
  22. ^ a b "Apollo Tyres Management Team". corporate.apollotyres.com. Retrieved 21 August 2017.
  23. ^ "Apollo Tyres appoints Mathias Heimann to head European Operations". The Economic Times. 22 October 2014. Retrieved 21 August 2017.
  24. ^ "Francesco Gori: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 21 August 2017.
  25. ^ Bureau, BS B2B (10 April 2017). "Apollo Tyres starts production from Hungarian plant". Business Standard India. Retrieved 8 May 2017.{{cite news}}: CS1 maint: numeric names: authors list (link)
  26. ^ Bureau, BS B2B (10 April 2017). "Apollo Tyres starts production from Hungarian plant". Business Standard India. Retrieved 17 April 2017.{{cite news}}: CS1 maint: numeric names: authors list (link)
  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

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