Apollo Tyres
 | |
| Public company | |
| Industry | Tyres |
| Founded | 1972[1] |
| Headquarters | Gurgaon, Haryana, India[2] |
Key people |
Onkar Kanwar (Chairman & MD) Neeraj R S Kanwar (Vice-Chairman & MD) |
| Revenue |
 ₹127.5 billion (US$1.9 billion)[3] |
Number of employees | 16000 |
| Website | http://www.apollotyres.com |
Apollo Tyres Ltd is the world's 17th biggest tyre manufacturer, with annual consolidated revenues of Rs 121.5 billion (US$2.5 billion) in 2011. It was founded in 1976. Its first plant was commissioned in Perambra, Thrissur, Kerala. The company now has four manufacturing units, one in South Africa, two in Zimbabwe and 1 in Netherlands.[4] It has a network of over 4,000 dealerships in India, of which over 2,500 are exclusive outlets.
It gets 62.6% of its revenues from India, 27.9% from Europe and 9.5% from Africa.[5]
It is planning to become the 10th biggest tyre manufacturer in the world with annual revenues of $6 billion by 2016.[2]
On 12 June 2013, it was reported that Apollo Tyres Ltd would buy US-based Cooper Tire & Rubber Company for about $2.5 billion in a deal that would make it the world's seventh-largest tyre maker, however the takeover collapsed after legal battles.[6]
History
- 1976 - Company conceived by Mathew T Marattukalam.
- Apollo Tyres was registered[1]
- 1977 - 1st plant established at Perambra, Kerala, India[1]
- 1991 - 2nd plant at Limda, Gujarat, India[1]
- 1994 - Started selling tyres for 2-wheelers[2]
- 1995 - 3rd plant at Kalamassery, Kerala, India[1]
- 2006 - Expanded operations outside India by acquiring Dunlop's Africa operations.[7]
- 2008 - A new plant at Chennai Tamil Nadu, India[1]
- 2009 - Apollo Tyres acquired the Netherlands-based tyre maker Vredestein Banden B.V. (VBBV) for an undisclosed sum from Russia's bankrupt largeNV.[8]
- 2013 - Disposed of the Dunlop brand in Africa along with most of the South African operation in a sale to Sumitomo Rubber Industries of Japan.
- Apollo is set to acquire the US based Cooper Tire & Rubber Co. which is expected to be completed at the end of the year.[9]
- 2015 - Apollo has bought Germany’s Reifencom for €45.6 million.[12]
European Operations
Apollo currently sells 30,000 tyres/month in Europe.[7] The company currently operates one tyre factory in Europe, in the Netherlands, and will build a second factory in Hungary. This second production facility will begin production in early 2017.[13]
References
- 1 2 3 4 5 6
- 1 2 3 "Forbes India Magazine - Apollo's Play in Europe".
- ↑
- ↑ "Apollo tyres roll into Europe today". The Hindu Business Line. 1 June 2010. Retrieved 17 September 2014.
- ↑ "Annual Report for the Financial Year 2013-2014". Apollo Tyres. Retrieved 17 September 2014.
- ↑ Amrit Raj. "Apollo Tyres’ Neeraj Kanwar goes back to the drawing board". live mint.
- 1 2 "Forbes India Magazine - Apollo's Play in Europe".
- ↑ http://abclive.in/abclive_business/apollo_tyres_vredestein_banden_bv.html Apollo Tyres Acquires Vredestein Banden BV
- ↑ Tire Review Staff. "Sumitomo Acquires Assets of Apollo Tyres South Africa". Tire Review Magazine.
- ↑ BBC Website
- ↑ "BTvIn - Our Domestic Mkts Are India, Europe: Apollo Tyres". Btvin.
- ↑ "Apollo Tyres may miss 2020 revenue target". Retrieved 2015-12-14.
- ↑ "Hungary plant to start rolling out products by 2017: Apollo Tyres". The Economic Times. 17 September 2014. Retrieved 17 September 2014.