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Apollo Tyres enters Saudi Arabia through tie-up with Al Jomaih Tyres

``The entry into the Kingdom of Saudi Arabia is the culmination of a long-term product planning and development programme. We are now ready with products suited to cater to the Saudi market, which is the largest and important replacement tyre market in the Middle East region,” said Shubhro Ghosh, group head ASEAN, Middle East & Africa of Apollo Tyres.

Tyre sector pins hope on stable revival in the next quarter

The industry is concerned that heavy commercial segment, particularly truck tyre sales, continues to remain sluggish. The overall tyre production is down by 8-10 % for April-October 2019 year-on-year. Though passenger vehicle segment showed improvement, too many holidays and plant closures affected sales during the month.

Kesoram gets NCLT nod to demerge tyre business

The B K Birla group company decided to demerge its tyre vertical into a separate entity - Birla Tyres Ltd - to create and unlock value for both the businesses. Outstanding debt of Rs 3,000 crore will also be split between the two entities. While Kesoram Industries will retain Rs 2,000 cr of debt, the new tyre entity would be servicing Rs 1,000 cr of debt.

Bridgestone to merge India ops with EMEA biz unit in 2020

Bridgestone announced the merger of its India business with Europe, Middle-East and Africa (EMEA) block from next year, segregating it from the China Asia-Pacific strategic business unit. The integration of India business into EMEA comes as a result of the latter's ongoing transformation capitalising on the opportunities digitalisation offers, it said.

Tyre sector hopes e-commerce festive discounts will rev up business

Tyre industry feels that the massive discounts could result in greater movement of vehicles for transportation of goods.

Tyre companies keep rolling on replacements

The segment posted small single-digit growth in Q1 after closing FY18-19 with an 11% increase in revenues.

Auto slowdown cyclical, will keep rolling out products for PV segment: Goodyear India

The company termed the current slowdown in the domestic market as cyclical and short-term.

Credit profile of Indian tyre industry is likely to weaken in FY2020: ICRA

According to ICRA, subdued vehicle production due to weak consumer sentiments amidst slowing economic activities, rising cost of vehicle ownership and softened rural demand will impact the tyre demand in FY2020.

Tyre replacement segment may grow at 8%

``The replacement tyre segment may grow at 7 to 8% in the current year compared with around 5% growth last year,’’ said Anup Mangaserri, senior vice president –sales of the company.

Apollo Tyres to invest Rs 2,800 crore in FY20

Capex will be used to commission greenfield facility in Andhra Pradesh.

Tyre companies, suppliers under lens for GST violations

Tyre companies, suppliers under lens for GST violations

The tyre industry has been under the lens for close to six months now as preliminary data with GST authorities showed instances of mismatch in returns.

Local tyre cos face fin Crunch, tepid growth

Local tyre cos face fin Crunch, tepid growth

“MHCV tyres mostly depend on NBFC (non-banking finance company) finance. The liquidity crunch provided limited financing options for the heavy vehicle owners,” said Rajiv Budhraja.

Mahansaria Family, Trelleborg to set up 2-wheeler tyre plant

Mahansaria Family, Trelleborg to set up 2-wheeler tyre plant

The joint venture will be 76 per cent owned by the Mahansaria Family and the rest 24 per cent by Trelleborg.

Indian tyre exports to cross Rs 12,000 crore this fiscal

Indian tyre exports to cross Rs 12,000 crore this fiscal

The tyre exports from India stood at Rs 6314 crore for six months to Setpember ,2018, data from ministry of commerce showed.

Kesoram to demerge tyre division, help to pare Rs 1000 cr debt

Kesoram to demerge tyre division, help to pare Rs 1000 cr debt

Kesoram, in a statement, said the company approved the demerger of the tyre undertaking into a new entity, Birla Tyres Limited.

Apollo Tyres cuts Kanwars’ pay by 30% after institutional investors raise objections

Apollo Tyres cuts Kanwars’ pay by 30% after institutional investors raise objections

“The revised proposal would result in a reduction of approximately 30% in overall compensation for both the promoters, Neeraj Kanwar and Onkar S Kanwar,” the company said in a filing to bourses.

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