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Apollo European site search still open

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GURGAON, India (June 3, 2014) — Apollo Tyres Ltd. is denying published reports in Europe that it has selected Hungary as the site for the $685 million tire plant it’s planning to build in eastern Europe.

Apollo’s board of directors released a statement today stressing that: “The company is yet to finalize on the exact location for this greenfield facility.”

The Slovakian daily newspaper Hospodárske noviny reported on May 31 that Apollo had ruled out a site in Slovak Republic and thus had opted to build the plant in Hungary.

Luis Ceneviz, president of Apollo Vredestein B.V., responsible for Apollo Tyres’ Europe, Sub-Saharan Africa and Americas businesses, told Tire Business at the recent Reifen Show in Essen, Germany, that Apollo had narrowed its site search to locations in Hungary and Slovak Republic.

A final decision on the site was expected in the coming weeks, Mr. Ceveniz said.

Apollo’s board of directors disclosed their approval April 16 of the budget of $685 million over four years to build a car and truck tire plant in eastern Europe. The project envisions a plant with capacity for 16,000 passenger and 3,000 truck tires a day

 

 

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Previous | Published August 31, 2015

With the subject of Chinese-sourced tire garnering so much attention, do consumers really care about where their tires come from? How many of your customers ask about the origin of tires they’re buying?

None
18%
(34 votes)
10%
26%
(49 votes)
11 to 20%
13%
(24 votes)
21 to 35%
14%
(26 votes)
36 to 60%
20%
(38 votes)
All of them
8%
(15 votes)
Total votes: 186