Apollo Tyres are planning to increase their presence in the global markets. The company grew to a $2bn company after 35 years since it was founded. Apollo is the largest manufacturer of tyres in India. They are currently planning to grow to a $6bn company within the coming five years. Their aim is to enter the top 10 tyre companies in the world. Currently Apollo Tyres are ranked at the seventeenth position.
The company’s chief of India operations, Satish Sharma, said that their vision is to become a $6bn company by the year 2015-2016. He said this, while addressing a dinner party for their fast growing channel partner family, hosted in Dubai.
According to their document titled ‘Vision’, the company is expecting their operational bases to develop new markets for pushing their export revenue.
Though Sharma did not give a lot of details regarding their European and African operations, he said that Apollo Tyres, their flagship group, is considering, Turkey, West Asia, Indonesia and Australia as their home markets.
Though they have already their export focus to Gulf countries, their new Middle East division is likely to open an office within the next two-three years in Istanbul to capture a share of the 6mn tyre market and the commercial vehicle 1.5mn tyre market along with the bus and truck radials.
Their largest export plan is already being implemented in their Indonesian market. Along with the demand for BIAS truck radials and tyres, the focus of opencast mining offers a great market opportunity in the off road high tonnage market.
Sharma said that they are producing 51 to 57 off road high tonnage tyres in India to be exported in Indonesia. In India, the market for these products is quite less. He also said that two of these consignments had been exported to archipelago.
He also said that their plan of entering the market in Australia, will provide market opportunities in segments including truck and car radials to the off road market is still evolving. They are making use of their connections and experiences in Europe for entering this market.