Apollo Tyres commissions first overseas greenfield facility in Hungary

Budapest: Gurugram-based Apollo Tyres on Friday commissioned its first greenfield manufacturing facility out of the country near Budapest in Hungary. The company has invested Euro 475 million to set up the unit.

The unit would have total capacity to manufacture 5.5 million passenger car and light truck tyres (PCLT) and 675,000 commercial vehicle tyres upon completion of the first phase. The new facility complements Apollo Tyres’ existing unit in Netherlands and would roll out both Apollo and Vredestein brand of tyres for the European market.

Onkar S Kanwar, chairman, Apollo Tyres said, “facility will help us further increase our presence and market share in Europe. From being a replacement market focussed company in Europe, we would soon be strating supplies of our tyres to all leading original equipment manufacturers in Europe.”