TO INCREASE its global footprint, Indian firm Apollo Tyres will build new facilities in Eastern Europe and Brazil. The venture is expected to amount to a total of EUR400 million with both the facilities to be operational in two to three years time.
The plants will produce passenger car radial tyres with an initial production capacity of 7-10 million units/year. Aside from establishing new facilities, Apollo Tyres is also planning to acquire a Latin America tyre manufacturer.
(PRA)
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