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Chinese Tyre Imports Impacting Apollo Tyres – Onkar S. Kanwar

apollo tyres brand ambassador sachin tendulkar

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The Chairman of India’s leading tyre manufacturer, Apollo Tyres, Onkar S. Kanwar has raised his concerns regarding the rising tyre import from China at cheap rates. He was speaking to the company’s shareholders, media persons and employees at the company’s 44th annual general meeting.

Mr. Kanwar said that the company’s Kerala plants were facing some tough challenges owing to the increasing TBR (truck and bus radials) import from China at low-costs. He also told that a unit was forced to shut down because of Chinese TBR import impact. However, giving assurance to the shareholders, he said that the company had put a strategy to tackle this issue by expanding its bias portfolio to segments, such as mining and agriculture. Through this strategy, Apollo Tyres is looking to build a strong presence in these segments in the coming future.

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Speaking on the occasion, he also pointed out that the company had a clear vision for the future and keeping that in mind had already completed the phase I of the TBR expansion at its plant in Chennai. He also announced that to cater the needs of the two wheeler and other emerging segments, Apollo Tyres would be establishing its 5th plant in India in the state of Andhra Pradesh. Mr. Kanwar also said that Apollo Tyres had introduced “market specific” products in many regions including Europe, Thailand, Malaysia and India.

 

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