KALAMASSERY, India (Aug. 9, 2012) — Apollo Tyres Ltd. plans to invest about $55 million over the coming two years to install and upgrade capacity for off-highway tires at its 17-year-old plant in Kalamassery, in Kerala Province.
The new capacity will be used to serve export demand, including Europe and North and South America, said a company spokesman, who defined off-highway tires as comprising tires for farm, fork-lift, dumpers, graders, etc. applications.
Separately, the company continues to scout locations for a car tire plant in central Europe. Previously the company has said Poland is a potential lotion for this plant.