Apollo Tyres and its Vredestein unit are developing a new brand strategy and making structural changes to their European operations. Speaking exclusively to Tire Industry Research at the Geneva Motor show, Apollo CEO, Neeraj Kanwar said the company is changing its brand strategy. The change is driven partly by a drive to build OE contracts
Apollo Tyres has re-set its course in the wake of the collapse of the Cooper deal. The primary ambition remains getting into the top-10 global tire makers, but the tactics of how to get there have changed. TIRes head of research, David Shaw spoke to Apollo CEO, Neeraj Kanwar at the Geneva Auto Salon earlier
Stock markets have punished Apollo Tyres for its audacity in daring to seal the biggest overseas deal in India’s corporate history – the acquisition of US-based Cooper Tire and Rubber. The share price of Apollo has fallen by around one third since the deal was announced. I’m trying to work out if this is justified
Apollo Tyres is to buy Cooper Tire and Rubber. The cash purchase price is around USD2.5 billion (USD 2,500,000,000). That’s about 60 percent of annual sales. Quite a low price for this kind of deal. Apollo statement | Cooper statement My own view is that Apollo has done well to finally negotiate this one. I
Tire companies are reporting their results. So far Michelin, Goodyear, Yokohama, Toyo, Nokian, Hankook and Nexen have all reported for 2012. Indian companies Apollo, MRF, JK and Ceat also reported for the quarter ended December 2012, but their financial year runs from April to March, so they will not report full-year figures until May. Premium
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