Financial Daily from THE HINDU group of publications
Friday, May 03, 2002
Financial Daily from THE HINDU group of publications Friday, May 03, 2002 |
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Corporate
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New Projects Apollo Tyres plans to make truck radials Our Bureau
NEW DELHI, May 2 APOLLO Tyres Ltd (ATL) has announced that the company is setting up a new unit at its existing facility in Baroda for manufacturing truck and bus radial tyres. The radial unit, being set up in technical collaboration with Continental AG, will entail an investment of Rs 110 crore. The new facility is expected to go on stream in April 2004. ``The truck radial facility represents our latest investment in cutting edge technology for enhancing product value to the customer. This will help consolidate our position as a provider of complete business solution for the commercial transport sector'', Mr Onkar S. Kanwar, Vice-Chairman and Managing Director, ATL, said in a statement here. ATL has already initiated test-marketing of some of the truck radial tyres, which have been imported from Continental AG.
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