Apollo Tyre is planning to build a plant in Southeast Asia in the near future and possibly another in Eastern Europe in the next few years, the head of the company's India operations said.
Satish Sharma, head of Apollo's India operations, said that all of Apollo's tyres sold in Southeast Asia are sourced from India, which accounts for 30% of its exports. Apollo Tire plans to first open a sales and marketing office in Southeast Asia during the current fiscal year (April 2012 to March 2013).
"There is growing demand for our products in Asia," Satish Sharma told the Financial Chronicle. "In order to be competitive in the region, we need a local manufacturing facility."