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It is reported that Apollo, a tire manufacturer in India, expects to double its exports to Europe to 100,000 tires per month by mid-2012.
According to India Business News (HinduBusinessLine), the new production capacity comes from the Chennai plant in Apollo, which will increase its annual production capacity from 6 million tires to 6.5 million.
Neeraj Kanwar, vice chairman and general manager of Apollo, said: "As the production capacity has been increased, the export volume of Apollo tyres to Europe has increased steadily. Currently, it has reached 50,000 per month. We hope that this will be done in the first quarter of 2012. The number has risen to 100,000."
Kanwar also said that the demand for winter tyres in the fourth quarter of this year is also quite strong. We can not only guarantee sales growth in overseas markets, but also achieve higher profit growth in the third and fourth quarter of this financial year.
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