Apollo Tyres is all set to hit the investment button and throw down €400 million (over Rs 2,500 crore) to set up shop in in East Europe and Brazil. The Indian tyre manufacturer is globally recognized. Just a few days back they had launched the Apollo Aspire 4G performance tyres at the Geneva Motor Show. Click here to read more. Apollo tyres has a venture with Vredestein to carry out their European business. The company is also looking to acquire a firm to kick-start their Latin american operations. From the investment front Apollo would be investing close to €150-
200 million in a greenfield plant in Eastern Europe. The remaining amount of investment will go towards setting up shop in Latin America, mainly Brazil. For the moment Apollo is not ruling out any acquisitions or options that are coming their way.
News Source: The Hindu Business Line