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Michelin enters high-performance bicycle tyre segment in India
NEW DELHI: French tire giant Michelin today announced the launch of a range of high-quality products to enter the premium segment of the high-performance bicycle tire market in India. Michelin said in a statement that it has launched a premium road range, a mountain bike range and an urban trekking range to tap the potential in India. Pradep G Thampy, Commercial Director (Two Wheels), Michelin Asia, Africa and Middle East “The premium bike market has grown significantly in recent years. Industry analysts estimate that the segment will grow 25% to 30 times annually.” He said. Points accumulate every year. He added that the new range is suitable for all types of cyclists-experts, everyday users and adventure enthusiasts. The company said that the inner tubes and tires are priced between Rs 690 and Rs 2,699, including applicable taxes. The Michelin India tire range includes cars, trucks, buses, two-wheelers and off-road vehicle (OTR) vehicles. The Chennai plant...
LydiaElsie
52
May 29, 2024
Apollo Tyres to invest Rs 4,000 crore in Chennai plant in FY17
NEW DELHI: Apollo Tyres, which tried to acquire Cooper Tires in 2013 but ended in failure, will now stop acquisitions and focus on organic growth to expand its business. The Gurgaon-based company plans to invest Rs 40 crore in the next fiscal to double the capacity of its manufacturing plant in Chennai and open a new plant in Hungary. “Today we are not looking at inorganic growth, there is no opportunity in the market,” Managing Director Neraj Kanwar told The Economic Times. Mainly to meet the demand in the domestic market, doubling the capacity in Chennai to 12,000 per day Meanwhile, when the Hungarian plant comes on stream in January, 2017, Apollo Tires It will expand its presence in Europe and the United States. The company is committed to establishing a distribution and sales network in the United States. Apollo Tires entered the two-wheeler segment on Monday with the launch of the Apolloo Acti range for motorcycles and scooters. Originally planned to fo...
LouiseSpenser
68
May 29, 2024
Michelin ties up with Snapdeal to sell tyres online
NEW DELHI: French tire giant Michelin on Monday partnered with online marketplace Snapdeall to sell its products through its e-commerce platform. Mohan, Commercial Director, Michelin India, said, “Snapdeal with its large user base and pan-India reach was an obvious choice. We believe that this new channel will strengthen our existing distribution channels and provide parallel sales to our dealer channel.” Name. Through this partnership, consumers will be able to purchase Michelin tires from authorized dealers through Snapdealll online ordering and request for installation at a time and place of their choice. He added, “Consumers can opt for same-day free accessories and get exclusive discounts on services such as alignment and balancing.” Bada Malick, VP Omnichannel, Snapdeal “Our recently launched omnichannel platform Janus” facilitates online product discovery and nearby offline installation services.”
BoyceLocke
49
May 29, 2024
Apollo Tyres steps up focus on Malaysia
NEW DELHI: Apollo Tyres today announced the expansion of its presence in Malaysia, the third largest automotive market in ASEAN. The company already has operations in Thailand and Indonesia. Satish Sharma, president, Asia Pacific, Middle East and Africa, Apollo Tyres “We have been steadily expanding the Malaysian market over the last two to three years as it is a key market for our growth.” The statement said. He added that the company’s product portfolio is well suited to the needs of Malaysian consumers and with the support of key distribution and retail partners in Malaysia, Apollo Tyres has been able to penetrate most of the major tire replacement segments. Sharma “Now that we have established a strong base in Malaysia, we believe that now is the best time for us to focus on this market by establishing Tires Malaysia subsidiary through the establishment of Apolloolo.” Apollo Tires is increasingly focusing on expanding its presence in...
Vikiwfv
47
May 29, 2024
JK Tyres acquires Cavendish Industries for Rs 2200 crore
NEW DELHI: JK Tire Industries today said it has acquired three tire businesses of Cavendish Industries, which owns Birla Tires, for an enterprise value of Rs 220 crore. The plant is located at Laksa (Hariwar) and manufactures a wide range of tires, inner tubes and gaskets. The acquisition was funded by internal accruals and debt. With this acquisition, JK Tires India and Mexico will have 12 Indian and Mexican home manufacturing plants.
GabrielStrong
48
May 29, 2024
Apollo Tyres to invest Rs 525 crore in a new facility in Andhra Pradesh
NEW DELHI: Gurgaon-based Apolloolo Tires today announced that it will be investing Rs. 52.5.5 crore to set up a state-of-the-art manufacturing facility in Andhra Pradesh. The proposed manufacturing plant will be Apollo Tires India’s fifth plant. The company has two plants in Kerala and one in Tamil Nadu and Gujarat. Onkarr S Kanwar, Chairman of Apollo Tyres The groundbreaking ceremony for the new plant will be held in January. Onkarr S Kanwar, Chairman, Apollo Tyres The foundation stone laying ceremony for the new plant will be held in January. Blood.
LouLarkin
43
May 29, 2024
Tyre makers staring at lower revenue as Chinese imports soar
Mumbai: Cheap tire imports continue to surge. In particular, China reported a 138% increase in sales of mid-day thread tires for cars and trucks in the first quarter, which could lead to a drop in sales for domestic tire makers. Prices are said to be around 25% cheaper than domestic. In the first quarter of this year, imports of tires for trucks, buses and two-wheelers grew by 25.3 per cent and 120.5 per cent year-on-year. India Ratings said in a report today that apart from the above factors, TB is particularly worrisome With the increase in revenue from the business, the business accounts for around 60% of the domestic tire industry’s revenue. But that doesn’t mean you are likely to lose much revenue. In the first quarter of this financial year, our TB industry revenue grew 138% year-on-year to Rs 230 crore, which now accounts for about 80% of the industry’s total revenue. “Our analysis shows that TB radial imports grew by 80% to 300,000 uni...
VivianBeck
44
May 29, 2024
Tyre import up in Apr-May, ATMA calls for anti-dumping duty
NEW DELHI: Imports of truck and bus radial (TBR) tires surged in the first two months of fiscal 2016-17, while prices of automotive radial tires fell by 20%, prompting industry body ATMA to ask the government to impose anti-dumping duty on tire imports from China. As many as 2.8 million TBR tires arrived in India in the month of April-May this fiscal, compared to over 18 million in the same period last year. The Automotive Tire Manufacturers Association (ATMA) in a statement, only five statements Monthly TBR imports reached 150 Almost every month there are 10,000 TBRR 40% demand for tire replacement. ATMA added that the massive dumping of TBR tires is also adversely affecting the interests of rubber growers in India, adding that it has written to the Indian Ministry of Commerce and Industry to expedite the process of levying duties. Anti-dumping duty on Chinese steel tires. He added, “Since passenger car tires are the largest single product, accounting for more than 5...
BartholomewRuth
47
May 29, 2024
Kesoram to infuse Rs 600 crore in tyre business, to acquire mine
Kolkata: B K Birla group company Kesoram Industries will invest Rs 660 crore in the current financial year Rs 100 crore for acquisition of mining and tire business. Tridibi Kr Das, Director and CFO, Kesoram “We are planning to invest Rs 6,600 crore in the year 2016-17,” said after the Annual General Meeting 2016-17. These investments will be invested in cement and tire business.” As Chairman B K Birla Senior Vice Chairman Manjushreee could not attend the meeting due to health reasons Khaitan presided over the meeting. Das said that Rs 35 crore will be spent on the tire business, of which Rs 30 crore will be spent on the automotive radial tire plant at Balasore. “This vehicle radial unit worth $290 4 million is planned for $40,000 Monthly investment in commercial production with an investment amount of 5 An additional Rs 3 billion will be spent this year Rs 3 billion,” he said. Das “We have allocated an additional 2.5 for acquisition...
MerryKeppel
55
May 29, 2024
Bridgestone launches Firestone tyre brand for cars, SUVs
Mumbai: Japanese tire giant Bridgestone today launched the legendary American tire brand Firestone car Firestone FR500 and SUV Firestone Destination LE02. With the launch of the new Firestone brand, the 116-year-old Firestone brand will focus on the passenger car and SUV segments, the company said. The tires under the new brand will be manufactured at the Chakan, Pune and Heta plants near Indore. However, the company did not provide any pricing details. Kazuhiko Mimura, Managing Director, Bridgestone India, on the launch of Firestone The brand said that in the last few years, India has emerged as one of the fastest growing automobile markets in the country. World. Firestone will initially focus on the passenger car and SUV segments and then scale it up. “We hope to capture our fair share of the market through our extensive dealer network and superior quality and service.” Mimura Firestone Harvey Firestone was founded in 1900 in Akron, Ohio. In 1988, Bridgesto...
AlbertaBacon
65
May 29, 2024
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