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Apollo Tyres to expand in West Asia
10 June 2011: Apollo Tyres has chalked out a three-fold expansion in business in the next one year to $100 million (approx Rs 450 crore) in West Asia, through group subsidiary Apollo Tyre Middle East (ATME) in Dubai.
While, ATME will henceforth also be responsible for spreading business in Turkey, in the longer run – in a span of two-odd years, Apollo plans to have its office in the country to capitalise on the strong in-country (Turkey) demand as well as make inroads in neighbouring East European markets.
While the company's cross-ply truck/bus tyres and the passenger radials were already in sale; with its Chennai plant in place, Apollo will now target the dominating truck bus radial market in the region in a big way.
Source: Hindu Business Line