Apollo Tyres expects Hungarian plant to boost turnover

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Indiaʼs Apollo Tyres expects to see significant growth in turnover from its seventh manufacturing facility, currently being built in Gyöngyöshalász, northern Hungary, according to a press statement sent to the Budapest Business Journal today.

“Once Apollo Tyres’ plant in Gyöngyöshalász is supplying the European market, the region is expected to account for around half of the company’s entire turnover,” said Neeraj Kanwar, vice-chairman and managing director of Apollo Tyres, at a formal inauguration of the companyʼs second Global R&D Center in Chennai, India. The company is hoping for double-digit growth in terms of volume, he added. 

Apollo Tyres claims to have a “strong international manufacturing presence,” with one plant in the Netherlands and another greenfield facility currently being set up in Hungary.

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