Steelbird International To Open A New Tyre Manufacturing Plant In Andhra Pradesh
Steelbird International, a leading auto components manufacturer, has recently announced that it is planning to establish a new two-wheeler tyre manufacturing plant in the city of Hyderabad, Andhra Pradesh. The new plant will have the daily capacity to produce 5,000 tyres. It is learned that this expansion is a part of Steelbird’s strategy to gain 20 percent market share in the two-wheeler aftermarket segment by 2020.
As per the Executive Director, Steelbird International, Manav Kapur, the company believes that diversification in the tyre manufacturing will help them to expand the profitability. However, the company did not comment on investments for new plants.
Steelbird International is also looking for buying a land in Greater Noida, Uttar Pradesh to set up another plant which will cater mostly to the demands of export markets. Mr. Kapur also said that the Greater Noida plant will be set up once the capacity utilization of its existing plant in Pantnagar in the nearby state of Uttarakhand reaches 95 percent.
The components from the plant will be exported to many countries in Europe. Furthermore, the company is also looking to export 60 percent of the total production from this plant. The company recently opened a plant for filter production in Pantnagar, Uttarakhand.