Apollo Tyres targets to emerge $2 billion revenue company by 2010-11
01 Jun 2010
A year after its acquisition of Dutch tyre maker Vredestein, Apollo Tyres today said that it plans introduce the premium European tyre brand in the country within the next 12 months.
Apollo Vredestein chief executive officer Rob Oudshoorn told PTI that the company was working on launching the Vredestein brand in India within a year.
The Indian tyre major had acquired the Netherlands-based Vredestein Banden BV (VBBV) in May 2009 for an undisclosed sum from the bankrupt Russian trye maker, Amtel-Vredestein NV.
Oudshoorn added that the company had been studying the Indian market demands in the premium segment. He said that they found that tyres in India are of low-level and heavier and more in the mass segment.
He said however that the company would consider certain modifications to its products to suit the growing Indian auto market.
He added that though the company operated in the high-performance segment it was making certain adjustments for the Indian market but would not compromise on technology.
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