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Bridgestone lines up Rs 600 cr to expand capacity, upgrade tech at Pune plant

Tire maker Bridgestone India on Monday said it will invest more than Rs 60 crore over the next three years In order to expand production capacity and upgrade technology at its Pune plant. The initial investment in production capacity and technology upgradation will be 70 million euros (over Rs 600 crore), the company said in a statement. This will enhance the plant’s capabilities in tire manufacturing technology and passenger car segment, he added. Stefanoonostefanono Sanchini “Bridgestone India is bringing global technology and manufacturing to the Indian market to meet the demand of Indian consumers for more fuel efficient tires and better products and to improve the quality of India’s roads.” , Bridgestone India. He added that as a global leader in tire technology, the company is committed to providing sustainable mobility solutions and has invested 70,000,000 euros in this direction. However, the company did not disclose the current production...

Tyre industry to grow by 8% in FY2014-15: ICRA

ET Motor Vehicle Bureau. New Delhi: Ratings agency ICRA expects the Indian tire industry to grow at a compound annual growth rate (CAGR) of 11%-12% over the next three years (2014-17), with revenues reaching Rs. 623 billion in 2016-2017. The size of the domestic tire industry is expected to grow by 8% from 2014 to 2015 to reach ₹20 billion. Domestic sales grew by 6% to $493 billion, although falling raw material prices forced tire companies to shift profits to alternative markets. “The decline in natural rubber (NR) crude oil prices may provide some benefits to consumers, but inflationary pressures on advertising, employees and other consumer goods have increased significantly in some countries over the past two years. Despite the pressures, ICRA expects the company’s operating margins to remain at 13-14% in 2014-15 The sharp decline in natural rubber prices has impacted margins. Subrata Ray, Senior Vice President and Co-Head of Valuation, Corporate Division, I...

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Bridgestone lines up Rs 600 cr to expand capacity, upgrade tech at Pune plant

Tyre industry to grow by 8% in FY2014-15: ICRA