Financial Daily from THE HINDU group of publications
Tuesday, Apr 04, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 04, 2006 |
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Corporate
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Outlook Industry & Economy - Tyres MRF to manufacture helicopter tyres Our Bureau
Chennai , April 3 MRF Ltd plans to get into the manufacture of helicopter tyres. The company is awaiting a few approvals before getting into production, said Mr K.M. Mammen, Chairman and Managing Director. Mr Mammen met presspersons at a function held here to launch the company's `V' rated tyres for luxury cars. The product was launched by the West Indian cricketer, Brian Lara. Mr Mammen and MRF's Executive Director-Marketing, Mr Philip Eapen, said that producing `helicopter tyres' would be a step towards getting into the aircraft tyres sector. Mr Eapen said that tyre companies were hit hard by the "unprecedented increase" in the prices of both the key raw materials — rubber and crude oil derived products such as rayon and synthetic rubber. He said that manufacturers could do nothing about it. Even raising the tyre prices was not an easy option because rubber prices were rising everyday and "you cannot raise prices of tyres daily." Two years ago, Mr Mammen had indicated that MRF was looking for acquisition opportunities in China. He said that MRF had not found a good buy, but said that the company plans to set up a unit in Sri Lanka for producing tyre retreading material from rubber. Rubber prices were slightly cheaper in Sri Lanka, he added.
More Stories on : Outlook | Tyres | Airlines
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