KOCHI, India (Aug. 11, 2016) — Apollo Tyres Ltd. has just completed a “watershed” financial year, chairman Onkar S Kanwar said at the company's 43rd AGM held recentlly in Kochi, in the southern Indian state of Kerala.
Reviewing the key achievements of the past 12 months up to March 31, the company leader pointed to the launch of Apollo's project to build a new tire plant in Hungary.
“This is the first time any Indian tire company has set up a greenfield outside of our country,” said Mr. Kanwar, adding that he was confident the first tires would roll out from the Hungarian plant by early 2017.
Mr. Kanwar then focused on the importance of branding for the Indian tire maker, citing the online “Rock the Road” campaign to promote its European brand Vredestein.
“Having strong brands and increased product portfolio will help in achieving our objective of profitable and sustainable growth,” the chairman said.
He also pointed to Apollo's efforts to beef up its retail network and expand its reach in the key European markets — as with the acquisition of Germany-based reifencom GmbH.