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Apollo Closes South African Plant

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Apollo-Tyres-logoCiting an “uncompetitive cost structure in the South African market”, continuous labor unrest and related issues, Apollo Tyres Ltd. will close its Durban, South Africa, tire plant, said Onkar S Kanwar, chairman of Apollo Tyres Ltd.

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In 2006, Apollo purchased Dunlop South Africa, which was valued at $200 million at the time of purchase. In 2013, the company sold much of its South African business as well as a passenger tire plant to Sumitomo Rubber Industries. The company maintained possession of its Durban plant, which produces TBR and OTR tires, and continued to sell Apollo, Vredestein and Regal branded tires in Africa.

One year after the sale, Apollo decided to undergo business rescue proceedings in South Africa due to labor unrest and an uncompetitive cost structure.

Announcing the company’s decision to close the plant, Kanwar said he is “pleased to inform that we have been able to secure the best value for all the stakeholders.”

Despite closing the plant, Apollo will continue to sell Apollo, Vredestein and Regal branded tires in Africa.

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