Apollo Tire Expands Southeast Asian Business to Increase Export Revenue

According to Indian media reports, Apollo Tire recently announced that the company will set up a branch in Malaysia in the next two years to increase its share of total revenue in its revenue to 15%.

Satish Sharma, president of Apollo, which is responsible for Asia Pacific, Middle East and Africa operations, said that thanks to the strong demand for passenger cars, commercial vehicles and agricultural vehicles as well as government-provided tax incentives, the company had previously established the feasibility of setting up a branch in Malaysia. Conduct a preliminary study.

In addition, Apollo will invest 15 billion rupees (2.4 billion U.S. dollars) in the expansion of its Chennai plant in India this year, increasing the capacity of its truck and passenger car radial (TBR) tires from 6,000 bars/day to 9,000 bars/day. day.

Apollo had previously set up sales companies in Bangkok, Dubai and South Africa, and plans to build a factory in Hungary to achieve growth.

From April 2014 to March 2015, Apollo’s accumulated global revenue fell by 4.7% year-on-year to Rs. 118.852 billion (US$2.007 billion), while revenue from exports accounted for 11% of its total revenue. .

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