Apollo Tyres
 | |
| Public company | |
| Industry | Tyres |
| Founded | 1972[1] |
| Headquarters | Gurgaon, Haryana, India[2] |
Key people |
Onkar Kanwar (Chairman & MD) Neeraj Kanwar (Vice-Chairman & MD) |
| Revenue | ₹117.1 billion (US$1.7 billion)[3] |
Number of employees | 16000 |
| Website | http://www.apollotyres.com |
Apollo Tyres Ltd is the world's 17th biggest tyre manufacturer, with annual consolidated revenues of Rs 117.1 billion (US$1.8 billion) in March 2016. It was founded in 1976. Its first plant was commissioned in Perambra, Thrissur, Kerala. The company now has four manufacturing units in India, and 1 in Netherlands.[4] It has a network of nearly 5,000 dealerships in India, of which over 2,500 are exclusive outlets.
It gets 69% of its revenues from India, 26% from Europe and 5% from other geographies.[5]
Apollo announced its entry into the two-wheeler tyre segment with contract manufacturing in March 2016. [6]
History
- 1976 - Company was conceived and promoted by Mathew T Marattukalam, Bharat Steel Tubes, Ltd. Raunaq International Pvt. Ltd., Raunaq & Co. Pvt. Ltd., Raunaq Singh and Jacob Thomas.
- Apollo Tyres was registered[1]
- 1977 - 1st plant established at Perambra, Kerala, India[1]
- 1991 - 2nd plant at Limda, Gujarat, India[1]
- 1994 - Started selling tyres for 2-wheelers[2]
- 1995 - Acquired Premier Tyres Limited- PTL. It is the 3rd plant at Kalamassery, Kerala, India [7]
- 2006 - Expanded operations outside India by acquiring Dunlop's Africa operations.[8]
- 2008 - A new plant at Chennai Tamil Nadu, India[1]
- 2009 - Apollo Tyres acquired the Netherlands-based tyre maker Vredestein Banden B.V. (VBBV) for an undisclosed sum[9]
- 2013 - Disposed of the Dunlop brand in Africa along with most of the South African operation in a sale to Sumitomo Rubber Industries of Japan.
- 2015 - Apollo has bought Germany’s Reifencom for €45.6 million.[11]
European Operations
Apollo Tyres currently sells Apollo and Vredestein branded tyres in Europe.[8] The company currently operates one tyre factory in Europe, in the Netherlands, and is building a second factory in Hungary. This second production facility in Europe will begin production in early 2017.[12]
References
- 1 2 3 4 5 "Archived copy" (PDF). Archived from the original (PDF) on 19 November 2010. Retrieved 2010-12-17.
- 1 2 "Forbes India Magazine - Apollo's Play in Europe".
- ↑
- ↑ "Apollo tyres roll into Europe today". The Hindu Business Line. 1 June 2010. Retrieved 17 September 2014.
- ↑ "Annual Report for the Financial Year 2015-2016". Apollo Tyres.
- ↑ "Widgets Magazine". epaperbeta.timesofindia.com. Retrieved 10 June 2016.
- ↑ http://economictimes.indiatimes.com/apollo-tyres-ltd/infocompanyhistory/companyid-63.cms
- 1 2 "Forbes India Magazine - Apollo's Play in Europe".
- ↑ http://abclive.in/abclive_business/apollo_tyres_vredestein_banden_bv.html Apollo Tyres Acquires Vredestein Banden BV
- ↑ Tire Review Staff. "Sumitomo Acquires Assets of Apollo Tyres South Africa". Tire Review Magazine.
- ↑ "Apollo Tyres may miss 2020 revenue target". Retrieved 14 December 2015.
- ↑ "Hungary plant to start rolling out products by 2017: Apollo Tyres". The Economic Times. 17 September 2014. Retrieved 17 September 2014.