Synopsis for Appolo Tyres
Apollo Tyres Ltd is the leading tyre manufacturing company in India. They are engaged in manufacturing automobile tyres and tubes. They are having their manufacturing facilities at Trichur in Kerala and Vadodara in Gujarat. They are the first Indian tyre company to launch exclusive branded outlets for truck tyres and also the first Indian company to introduce radial tyres for the farm category. The company was incorporated on September 28, 1972. They started their production in the year 1977 at Perambra in Kerala. In the year 1991, the company commissioned their second plant at Limda in Gujarat. In the year 1995, they acquired Premier Tyres at Kalamassery in Kerala. In the year 1996, exclusive tubes plant commissioned in Ranjangoan in Maharashtra and in the year 2000, they established exclusive radial capacity in Limda. On Novermber 17, 2003, the company entered into an strategic alliance Michelin, France for setting up a joint venture company namely Michelin Apollo Tyres Pvt Ltd for producing dual branded truck & bus radial tyres in India. In the year 2004, they produced India's first H-speed rated tubeless passenger car radial tyres. Also they increased the production capacity of Automobile Tyres and Automobiles Tubes by 1283560 Nos and 414000 Nos respectively and in the next year, they further increased the production capacity by 1466432 Nos and 1567200 Nos respectively. During the year 2005-06, the company incorporated a wholly owned subsidiary company, Apollo (Mauritius) Holdings Pvt Ltd in Mauritius and they also formed Apollo Automotive Tyres Ltd and Apollo Radial Tyres Ltd as wholly owned subsidiaries of the company. In the same year, PTL Enterprises Ltd ceased to be a subsidiary company. Also, the company realigned their relationaship with Michelin and exited from the joint venture company Michelin Apollo Tyres (P) Ltd. The company increased the production capacity of Automobiles Tyres and Automobile Tubes by 1045632 Nos and 1379360 Nos respectively during