Apollo Tyres Worker Strike Ends After Deal
India’s Business Standard reports that the 19-day strike at Apollo Tyres’ Waghodia plant ended on Nov. 9.
Apollo Tyres Raising $150 Million
On Oct. 1, Apollo Tyres’ board of directors approved the raising of $150 million through placement of shares to qualified institutional buyers. In a filing to the BSE, Apollo said its board also has approved increasing the investment limit of foreign institutional investors from 30% of the company’s paid up capital to 40%. (Tyres &
Apollo Tyres Featured in ‘Around the World in 80 Brands’
Apollo Tyres is one of the brands featured in the CoolBrands book “Around the World in 80 Brands,” which features articles about visionary people, smart brands and trendy destinations.
Apollo Tyres Joins TyreSafe
Vredestein UK managing director Stuart Jackson also serves as the chairman of TyreSafe, so it is safe to say he is pleased to welcome the safety organization’s latest member: Vredestein’s parent company Apollo Tyres. Upon Apollo joining the TyreSafe ranks, Jackson said, "TyreSafe continues to grow from strength to strength. However, more than the number
Apollo Tyres Changes Global R&D Structure
Apollo Tyres Ltd. has restructured its research and development operations across its three primary markets. The new R&D structure links the entire organization along separate commercial and consumer tire product lines, with both groups reporting to Neeraj Kanwar, Apollo vice chairman and managing director. “We have merged our research and development resources of nearly 250
Apollo Tyres Aims to Double Exports to Europe
Apollo expects to double its export of Apollo branded tires to Europe to 100,000 units per month by mid-2012.
Apollo Tyres Sales Up, But Profits Fall
Apollo Tyres Ltd. posted FY2010 sales of Rs 88.6 billion, up 9% from the year prior, while net profits fell to Rs 4.4 billion from Rs 6.5 billion the previous year. "This has been an extremely challenging year of spiraling raw material prices, especially natural rubber, and closures for over a quarter in one of
More on Apollo Tyres Plant Lockout
India’s Apollo Tyres has issued a statement concerning the lockout of workers at its Perambra, India, tire plant. Attributed to Satish Sharma, chief of its India operations, the statement read: "The lockout in the Perambra plant is a result of the unreasonable stance taken by a small percentage of the workers during the long-term settlement
Lockout at Apollo Tyres India Plant
Apollo Tyres has reported the initiation of a lockout at its Perambra, India, factory in Kerala. “With reference to the earlier announcement, Apollo Tyres has now informed BSE that the management has declared lock-out at company’s manufacturing facility at Perambra,” stated an official filing, citing “labor unrest relating to long term settlement negotiations” as the
Apollo Tyres to Raise Prices in June
Apollo Tyres Ltd. said it will increase tire prices by 4% in June after already hiking prices by 3.5% on May 1. The company cited increases in natural rubber and crude oil costs as the reason for the successive price hikes. Citing similar input cost pressures, the Apollo had increased prices 2% to 4% in