Posted in | News | Business

Michelin and Apollo Tyres Agree to Realign Business Plans

Oct 5 2005

Michelin Group and Apollo Tyres Ltd have mutually agreed to postpone their joint industrial project located in Pune by at least one year.

Related Stories

This joint venture company called Michelin Apollo Tyres Pvt Ltd or MATPL was set up to manufacture truck and bus radial tyres for the domestic market. The decision was taken at a MATPL Board Meeting held today.

The decision is based on prevailing market conditions and the pace of radialisation in the truck and bus tyre segments. While the use of radial tyres has gone up in the past two years, it is at a pace that was slower than projected by the partners. As a result of the deferment in the industrial project, the partners have decided to re-focus their respective resources towards more immediate projects. Going forward, the Pune project will be undertaken solely by the Michelin Group, which will acquire Apollo’s equity in the Michelin Apollo Tyres Pvt Ltd joint venture.

MATPL will continue to operate in India and offer the existing range of Michelin products. Michelin will remain a shareholder in Apollo Tyres Ltd and the partners will continue to explore opportunities for co-operation in India.

http://www.michelin.com/

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
(Logout)
Your comment type
Submit

Sponsored Content

Editorial Highlights

The Current State of the Global Semiconductor Market

The Current State of the Global Semiconductor Market

The global semiconductor market has entered an exciting period. Demand for chip technology is both driving the industry as well as hindering it, with current chip shortages predicted to last for some time. Current trends will likely shape the future of the industry, which is set to continue to show

How are Graphene Batteries Made?

How are Graphene Batteries Made?

The primary distinction between graphene-based batteries and solid-state batteries lies in the composition of either electrode. Although the cathode is commonly changed, carbon allotropes can also be employed in fabricating anodes.

Newsletters you may be interested in

See all Newsletters »

Terms

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

Provide Feedback