Apollo Tyres Ltd has closed the transaction
with Sumitomo Rubber Industries (SRI), where in SRI takes over Apollo Tyres
South Africa including the Ladysmith passenger car tyre plant and Dunlop brand
rights in 32 countries of Africa for US$ 60 million. Apollo retains the Durban
plant which manufactures Truck & Bus radial tyres and Off Highway tyres
used in the mining and construction industries. Post this transaction, Apollo
Tyres will continue to sell Apollo, Vredestein and Regal branded tyres in
Africa. Both companies will also undertake contract manufacturing of their
respective brands at each other’s facility to have locally manufactured
products available for the market.
What
our readers say: http://rubber4u.com/Public/Views.pdf
Read
lot more in Rubber4U – 15th December 2013 issue
No comments:
Post a Comment