Continental India Limited, expanding its reach in India, had recently acquired Indian tyre manufacturer, Modi Tyres in 2011.
According to the officials, the Indian truck tyre replacement market has a volume of approximately 14 million units per year, out of which almost 4 million units are radial tyres, whereas the other 10 million are bias tyres.
Over the last five years, the market has not only grown by approximately 24 percent, but has also seen a strong shift towards radial tyres. It is expected that radialization will gain further momentum in the next years, Continental India informed.
With provisional sales of around 33.3 billion euro in 2013, Continental is among the leading automotive suppliers worldwide, the officials said.
As a supplier of brake systems, systems and components for power trains and chassis, instrumentation, infotainment solutions, vehicle electronics, tyres, and technical elastomers, Continental contributes to enhanced driving safety and global climate protection.
Continental is also an expert partner in networked automobile communication. Continental currently has more than 178,000 employees in 49 countries.
With more than 42,000 employees, the Tyre division achieved sales of 9.7 billion euro in 2012.
Today, the division has 22 production and development locations worldwide.
The broad product range and continuous investments in R&D make a major contribution to cost-effective and ecologically efficient mobility.
Continental’s tyre division is an official sponsor of the German DFB Cup, 2014 FIFA World CupTM in Brazil and the UEFA EURO 2016TM in France.
Source: India Blooms