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JK Tyre crosses 2 crore units' production milestone of trucks, bus radial tyres

Commenting on the feat, JK Tyre Chairman and Managing Director Raghupati Singhania said, "As a pioneer and market leader, we remain committed to driving innovation and bringing products for our fleet customers that are high on efficiency, safety and cost effectiveness".

Ceat extends warranty on tyres by three months

The decision to extend warranty on tyres has been taken to express solidarity with customers amidst the continued lockdown, Ceat Tyres said in a statement. The extention is valid on tyres whose warranty is due to expire between March 1 and May 31, it added.

JK Tyre resumes partial operations at manufacturing plants across country

The tyre maker has commenced production in a graded manner at its manufacturing facilities in Chennai (Tamil Nadu), Kankroli (Rajasthan) and Laksar (through Cavendish industries Ltd - subsidiary company, in Uttarakhand). The company has also resumed operations at its global research and development hub located in Mysore, Karnataka, JK Tyre said.

MRF Tyres partially resumes operations

"We would like to state that based on various relaxations and guidelines issued by the Ministry of Home Affairs, Government of India and by the respective state governments and permissions from local authorities, the company has partially resumed its operations in most of its plants with restricted manpower," MRF said in a filing.

Tyre firms upbeat about demand for replacements

Tyre makers are upbeat about the demand stemming from the replacement of tyres in the second quarter and reckon that original equipment (OE) sector will take more time to recover.

Tyre industry foresees a loss of about Rs 5000 crore in six months to July

All tyre manufacturing facilities have stopped functioning and the industry now expects to resume operations only by mid-April. " We have estimated the loss assuming things will get better from August,’’ said Rajiv Budhraja, director general of Automotive Tyre Manufacturer’s Association.

Coronavirus impact: Apollo Tyres, Ceat suspend manufacturing operations

The expected financial impact of the above is not ascertainable at this stage and the duration of this shutdown will depend upon directives to be further issued by the respective government authorities in this regard, said Apollo Tyres.

Apollo Tyres leadership team takes pay cut due to coronavirus

Gurugram-based Apollo Tyres Friday said it’s leadership team has announced a voluntary reduction in pay due to the impact of COVID-19 on the automotive industry.

Maxxis bets big on India as it eyes to enter top 5 global tyre maker list

The company is investing USD 400 million on its first manufacturing plant at Sanand in Gujarat, where it is working to hike output to 60,000 units of two-wheeler tyres per day from the current 20,000 units a day, as part of the project's phase I expansion.

Warburg Pincus to invest $150 mn in Apollo Tyres

The Board of Directors of Apollo Tyres today approved an issuance of compulsorily convertible preference shares in the company worth Rs 10,800 million (approximately US$150 million) to an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing. The investment represents a primary capital infusion into the company and is subject to shareholder and regulatory approvals.

Synergies launches world’s first black chrome-plated wheels

Synergies launches world’s first black chrome-plated wheels

The latest technology combines the best of traditional electroplating, and new age requirement for environmentally safe and compliant ‘black’ colour, said the company, adding that the premium electroplating process guarantees a rich, lustrous, silky smooth chrome-plated blackness.

J K Tyre & Industries aims to reduce debt by over 50% in three years, banks on exports and replacement mkt to de-risk biz

J K Tyre & Industries aims to reduce debt by over 50% in three years, banks on exports and replacement mkt to de-risk biz

Already sitting on a debt of Rs 5000 crore, the company has decided to defer Rs 675 crore investment by a year in Cavendish Industries (a firm it acquired in 2016 from B K Birla Group) to ensure lean operations. With series of cost cutting initiatives and expected improvement in capacity utilisation, the company’s CFO Sanjeev Aggarwal said J K Tyre is planning to pare its debt to more than half in the coming three years.

Michelin launches new tyre range for passenger vehicles in India

Michelin launches new tyre range for passenger vehicles in India

The new range, priced from Rs 5,090, would be available at the company's authorised dealers across the nation in 30 sizes (12-16 inch) from early next year.

Budget 2019: Tyre industry finds budget a mixed bag

Budget 2019: Tyre industry finds budget a mixed bag

What will lend an impetus to the auto and tyre sectors is Finance Minister’s proposal to invest Rs 100 lakh crore in the infrastructure sector over next five years.

IRFPC hopes to start tyre production by the end of 2019

IRFPC hopes to start tyre production by the end of 2019

The company plans to start with 2000 tyres a day and scale it up to 5000 tyres gradually.

Tyre sector may grow 7-9% in 5 years buoyed by demand, lower crude

Tyre sector may grow 7-9% in 5 years buoyed by demand, lower crude

The domestic tyre industry has benefited from strong growth in both original equipment (OE) and replacement segments in the ongoing fiscal.

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