Apollo Tyres grapples with floods in Kerala

August 23, 2018

Apollo-tyreFollowing the devastating floods in the state of Kerala in India, which is the largest area in the country for rubber plantations, one of India’s biggest tyre maker, Apollo Tyres, has seen production operations disrupted in the company’s plants in Perambra and Kalamassery.

Kerala state had its worst flood in a century; 1 million people have been displaced and are being housed in camps and nearly 400 people have died and thousands remained stranded by the floods.

In a filing to the Bombay Stock Exchange, the public-listed company stated that though the production loss due to the natural calamity is 1,500 tonnes, the loss of profit is not that significant.

Further, the Guragaon-headquartered company said that its insurance policy adequately covers natural calamities.

The company produces commercial vehicle tyres and off-the-highway tyres at the two plants.

Apollo’s total capacity is spread across four plants in India, one in Netherlands and one in Hungary. The company markets its products under two global brands – Apollo and Vredestein. Apollo also bought Germany-based Reifencom GmbH, one of the leading tyre retail organisations in Germany.

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Rubber Prices
(Last Updated: 08 Oct 2018)

Monthly The prices shown above do not include VAT @4% on purchase and expenses towards packing, transportation, warehousing  and other incidentals


Source: Latex India

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