Indian tyre manufacturer Apollo Tyres has now become a full-range player in the Sri Lankan market with the introduction of its two-wheeler tyres, informed the company in an official statement released on Monday (17 July).

 
Rajesh Dahiya, Group Head, Sales (India, SAARC & Oceania), Apollo Tyres Ltd and Jagath Samarsekhara, CEO, Ideal Wheels & Tyres launched Apollo’s two-wheeler tyres in the island nation in the presence of company’s business partners and customers.
 
Since its introduction in the Sri Lankan market in 2011, Apollo’s products have been well accepted across the country; and, this has prompted the company to introduce its two-wheeler range as well to service the estimated 250,000 – 300,000 vehicles a year market.
 
Sri Lanka contributes over 20 per cent of the company’s exports to SAARC countries. The roads and vehicles in Sri Lanka are very similar to that of India, claims the company.
 
Satish Sharma, President, Asia Pacific, Middle East & Africa (APMEA), Apollo Tyres Ltd said “With Sri Lanka being the top island economy of the future, and FDIs in the country increasing nearly 150 per cent in 2016, we see this is as an opportunity for us to increase our focus here."
 
"We are looking at capitalising on the increasing automotive sales, especially the two wheelers. We are using our Indian experience on the kind of tyres, services and training required to allow vehicle owners in this country to maximise on products’ performance.”
 
This step is in line with the company's Vision 2020 - ‘To be a premier tyre company with a diversified and multinational presence’.
 
Earlier, Apollo Tyres has announced to set up its fifth Indian manufacturing plant in state of Andhra Pradesh to create capacities for the two-wheeler tyre and other emerging product categories.
 

Source : http://businessworld.in

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