Apollo Tyres open to buying rubber plantations: MD

NEW DELHI: Apollo Tyres Ltd is open to the possibility of buying rubber plantations to fight surging rubber prices that have been eroding tyre makers' margins, a top executive said on Friday.
"As far as buying rubber plantations, or for that matter any kind of backward integration, is concerned, we are always open to possibilities depending upon the need of the hour," Neeraj Kanwar , vice-chairman and managing director, told in an e-mailed response.
The tyre maker is reviewing contracts with suppliers to correct rubber prices, and also maintaining a leaner and efficient inventory and working towards greater production efficiency to deal with higher prices of rubber, a key raw material for tyre, he said.

Source: http://economictimes.indiatimes.com/news/news-by-industry/auto/tyres/apollo-tyres-open-to-buying-rubber-plantations-md/articleshow/8600648.cms