Companies

Birla Tyres in talks with multiple partners for strategic collaboration

Our Bureau Kolkata | Updated on September 29, 2020

Birla Tyres Ltd, which was recently carved out of the multi-product company, Kesoram Ltd, is in talks with multiple prospective partners both within the country and overseas for strategic collaboration, including technical knowhow acquisition to manufacture off-site a range of tyre products in the off-road and other specialty segments such as material handling.

Addressing shareholders at the company’s virtual annual general meeting on Tuesday, Manjushree Khaitan, Chairperson, Birla Tyres, said the company would focus on leveraging its past legacy to pitchfork the brand across tyre segments, including off-road and other specialty categories.

Off-road tires are a category of vehicle tires that use deep tread to provide more traction on unpaved surfaces such as loose dirt, mud, sand, or gravel.

The company also plans to raise around ₹200 crore that will have a twin component of equity and debt. Discussions with prospective strategic partners and funding agencies were in advanced stages and would be put in place in the next three-to-six months, P Radhakrishnan, Director, BTL, said.

The company’s facilities in Odisha are also being revamped to maximise capacity utilisation through an innovative mix of existing and new product lines to cater to a wider audience from high value truck tyres tires to four-wheeler and two-wheeler segments.

Published on September 29, 2020

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