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MRF Plant for Sri Lanka

(Clacton, U.K./Tyres & Accessories) Indian company MRF Tyres is setting up a small plant in Sri Lanka for manufacturing rubber, a top MRF official said.

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Speaking to reporters on the sidelines of launching V-rated tyres for luxury cars, Philip Eapen, executive director of marketing, said experimental production has already commenced at the new facility. However, he did not provide any details about investment in the plant.

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Eapen said MRF had obtained most of the regulatory approvals for the production of helicopter tyres and was in the final stages of the approval process.

He also said the industry was going through a critical phase, with the increase in raw material prices. The tyre industry had never faced such a situation in the last 30 years. The increase in rubber prices was creating a strain on the bottom line for the company, he added.

Earlier, Chairman and Managing Director K. M. Mammen and brand ambassador, West Indian cricketer Brian Lara, unveiled the V-rated tyres, targeted at the top end and luxury car segment.

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The tyres are specifically targeted for cars such as the Mercedes S Class, Ford Mondeo and Skoda Laura.

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