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Apollo Tyres commissions first overseas greenfield facility in Hungary

 LenaThodore
  43
 May 30, 2024

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BUDAPEST: Apollo Tyres on Friday used a 4.75 (about 34,600 crore (about 346,000 crore) its first overseas greenfield manufacturing plant near Budapest, Hungary in a billion rupee factory.

Upon completion of the first phase of expansion, the plant will have a production capacity of 5.5 million passenger car and light truck tires and 675,000 commercial vehicle tires per annum. The plant is a complementary tire division of Apollo Holland and will launch Apolloo and Vrestein branded tires in the European market.

“This plant will help us further increase our presence and market share in Europe. We are a company focused on the European alternative market and will soon start supplying tires to all major European OEMs.” Onkar chairman S Kanwar said. Tires.

Apollo Tires had sales of $1.81 billion in fiscal 2016, with $400 million Nissan 1,650 manufacturing plants tons in Tamil Nadu, Kerala and Gujarat, India. We have 1 ton in the Netherlands. plant. The company generates nearly 70% of its revenue from its Indian operations.

Gurgaon-based Apollo Tyres, which is headquartered in Gurgaon and exports to more than 100 countries, has been working on expanding its presence in the global market through organic greenfield investments and acquisitions.

(Journalist invited to Hungary by Apollo Tyres)

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