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According to India Business News (Hindu Business Line), Apollo Tire , the Indian tire giant, recently said in an interview that the company plans to double its exports to Europe to 100,000 tires per month by mid-2012.
It is reported that Apollo Tire's new production capacity will come from the Chennai plant in Apollo. The plant's annual production capacity will increase from 6 million tires to 6.5 million. Neeraj Kanwar, vice chairman and general manager of Apollo, said: "As the production capacity has increased, the export volume of Apollo tyres to Europe has increased steadily. Currently, it has reached 50,000 per month. We hope that this will be the first quarter of 2012. A figure has risen to 100,000.†Kanwar also said that the demand for winter tyres in the fourth quarter of this year is also quite strong. We can not only guarantee sales growth in overseas markets, but also be able to achieve the third and fourth wealth in this fiscal year. Quarterly higher profit growth.
â— About Apollo â—
Apollo Tire is currently the 15th largest tire manufacturer in the world and has invested 20 billion rupees to build India's largest truck radial tire plant. The plant is located near Chennai, India and can produce 6000 radial tires per day. In addition, Apollo Tires also acquired in 2006, South Africa's Dunlop Tires International (Dunlop Tyres International) company, and the acquisition of Dutch tire company Fred (Vredestein Banden BV, VBBV) in 2009.
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