India’s Apollo Tyres, according to reports, expects to double its export of Apollo branded tires to Europe to 100,000 units per month by mid-2012.
The increase will come from added capacity from Apollo’s Chennai plant, according to Hindu Business Line, and would stretch the plant’s listed capacity of 6 million tires per year to some 6.5 million tires.
Apollo vice chairman and managing director Neeraj Kanwar was quoted as saying, “With higher capacity in place, our exports to Europe are increasing steadily and have touched 50,000 tires a month this quarter. We are hopeful to push the exports to 100,000 tires a month, tentatively in the first quarter of 2012.”
Kanwar also reportedly said that demand for winter tires was also strong in the current quarter. “We will to do better both in terms of overseas sales and margin in the third quarter and fourth quarters of this fiscal.”