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IN FOCUS: Apollo tyres aims to be a top 10 tyre manufacturer

Ever heard of Apollo tyres? Well get set to know who they are, because this tyre manufacturer is aiming to become a top 10 global tyre manufacturer by 2016.

Appollo tyres have set their sights high

The relatively unknown tyre manufacturer is currently the worlds 15th largest tyre manufacturer with annual consolidated revenues reaching just above $2.5billion in 2011. The Indian based company was founded in 1976, and has since enjoyed prominent success in its native country as well as Europe and Africa adding to revenue, however they have now set themselves the tall order of becoming entering the top 10 in the worlds list of tyre manufacturers.

Apollo tyres will invest over one billion USD in global expansion over the next five years in order to expand their global footprint. The first stage of development will be shifting their research and development headquarters from India to Holland as well as setting up a marketing office in the UK.

At present the top manufacturers are are Bridgestone, Michelin and Goodyear, followed up by Continental and Pirelli at fourth and fifth positions. It seems like App0llo have some stiff competition if they are to fulfill their target, however they seem to believe that it is entirely possible.

Apollo Tyres Vice-Chairman and Managing Director Neeraj Kanwar said,”With the strategy that we have put in place in terms of capacity expansion, scaling up R&D and marketing, we are confident that we will achieve the target.”

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